P&S Intelligence published a new research report, titled, “Lipstick Market: Global Industry Analysis and Forecast till 2024, One of the major factors behind the growth of the lipstick market is the increasing number of working women. The maximum share of lipstick was held by women in the 20-40 age group. The changing lifestyle and rising consciousness for appearance are escalating the demand for lipsticks.
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Furthermore, in 2017, the female population in the 15-64 age group reached 2.42 billion as compared to 2.3 billion in 2012, with 53.8% labor force participation rate in 2017. Due to the increasing number of working women, the demand for cosmetic products, especially lipsticks, is expected to rise. Hence, the surging women workforce is predicted to propel the market in the forecast period.
The global lipstick market is expected to generate a revenue of $13.4 billion by 2024 and is predicted to progress at a CAGR of 6.6% during the forecast period (2019-2024). The factors responsible for the growth of the market are the increasing number of working women and rising usage of e-commerce beauty websites around the world. On the basis of product type, the market is categorized into shimmer/pear/frost/, glossy, matte, metallic, satin/sheer, luminous, creme, and natural.
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This market research report provides a comprehensive overview of the lipstick market
- Major factors driving the market and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Major players operating in the market and their service offerings
- Recent strategic developments by the major players in the market
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