The Latin America, Middle East and Africa Lipstick Market would witness market growth of 16.4% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 64.68 Million Units (3.5 GRAMS), showcasing a growth of 14.5% (2024-2031).
In the lipstick market, matte lipsticks are highly popular for their long-lasting, non-shiny finish, which has become a preferred style for many consumers. Matte formulas are often rich in pigments, providing bold, opaque color that stays intact without frequent reapplication. While matte lipsticks were once criticized for being drying, recent formulations incorporate hydrating ingredients to enhance comfort. Thus, the Matte segment in Brazil market consumed 6.13 Million Units (3.5 GRAMS) in 2023.
The Brazil market dominated the LAMEA Lipstick Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $573.2 Million by 2031. The Argentina market is showcasing a CAGR of 17.3% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 16% during (2024 - 2031).
Cultural diversity and inclusivity have transformed this market, with brands recognizing the need to provide shade ranges that cater to a spectrum of skin tones and undertones. Historically, the beauty industry was limited in its offerings, often centering around shades that suited only certain skin tones, leaving many consumers unable to find suitable colors.
The growth of the men’s grooming segment has further expanded this market. Although traditionally viewed as a product for women, this is gaining popularity among men, fueled by changing attitudes toward gender and beauty. An increasing number of brands are embracing gender-neutral marketing strategies, promoting lipsticks as products for anyone interested in enhancing their appearance or experimenting with color.
The UAE's market is characterized by a high demand for luxury and premium products, driven by a wealthy consumer base and a strong retail infrastructure. According to the UAE's Federal Competitiveness and Statistics Authority, the country's GDP per capita is among the highest globally, enabling consumers to spend more on high-end cosmetics. International luxury brands like Chanel and Dior have a strong presence in the market, catering to consumers' preferences for quality and exclusivity. The influence of expatriate populations also contributes to a diverse range of beauty preferences, further enriching the market. Thus, the LAMEA market presents substantial opportunities for brands that can navigate the unique dynamics of each nation.
Free Valuable Insights: The Worldwide Lipstick Market is Projected to reach USD 25.7 Billion by 2031, at a CAGR of 14%
Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Specialty Stores, Online, and Other Distribution Channel. Based on Product Type, the market is segmented into Matte, Glossy, Lip Powder, and Other Product Types. Based on Form, the market is segmented into Stick, Liquid, and Palette. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Distribution Channel (Volume, Million Units (3.5 GRAMS), USD Billion, 2020-2031)
By Product Type (Volume, Million Units (3.5 GRAMS), USD Billion, 2020-2031)
By Form (Volume, Million Units (3.5 GRAMS), USD Billion, 2020-2031)
By Country (Volume, Million Units (3.5 GRAMS), USD Billion, 2020-2031)
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 