The North America Lipstick Market would witness market growth of 13.6% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 112.53 Million Units (3.5 GRAMS), showcasing a growth of 13.1% (2020-2023).
Hypermarkets and supermarkets serve as a prominent distribution channel for lipsticks, offering consumers a convenient way to purchase products during routine shopping trips. These stores typically stock a range of well-known brands and affordable options, making them accessible to a broad demographic. The retail environment allows consumers to browse a variety of shades and finishes, often with frequent promotions that attract budget-conscious buyers. Thus, the Hypermarkets and supermarkets segment in US market consumed 42.99 Million Units (3.5 GRAMS) in 2023.
The US market dominated the North America Lipstick Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5,404.6 Million by 2031. The Canada market is experiencing a CAGR of 15% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 14.8% during (2024 - 2031).
This has transcended its role as a simple beauty product, evolving into a cultural symbol of self-expression, empowerment, and identity. Its appeal spans generations, cultures, and regions, making it a staple in personal care routines. From classic reds to adventurous blues, from creamy mattes to hydrating glosses, this continues to reinvent itself, reflecting changing consumer preferences, beauty trends, and social influences.
In recent years, this market has seen unprecedented growth and diversification. This expansion has been significantly influenced by technological advancements, as brands are consistently creating new formulas that meet the diverse requirements of consumers. Today’s consumers expect their lipsticks to go beyond simple color payoff; they seek products that offer long-lasting wear, hydration, nourishment, and even skincare benefits.
Mexico's market is rising, influenced by a youthful population and a burgeoning middle class. According to the National Institute of Statistics and Geography (INEGI), individuals aged 15 to 29 make up a significant portion of the population, driving trends in fashion and beauty. This demographic is highly receptive to global beauty trends, often disseminated through social media, leading to increased demand for various lipstick products. Additionally, the growth of e-commerce platforms in Mexico has made international brands more accessible, further diversifying consumer choices and fueling market growth. Thus, the region presents lucrative opportunities for the market throughout the forecast period.
Free Valuable Insights: The Lipstick Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
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)
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