Europe lip care products market reached a value of USD 632 million (EUR 562,5 million) in 2018. Looking forward, the market is expected to grow at a CAGR of around 2.4% during 2019-2024 and reach a value of USD 733 Million by 2024, according to a recent study available at ResearchAndMarkets.com .
Females generally represent the main consumers of lip care products in Europe, however, catalysed by a growing trend of personnel grooming among men, the number of male consumers is also continuously increasing.
Another trend being witnessed in the market is an increasing demand for sun protection lip care products which provide protection to the lips from the prolonged exposure to the sun, which can otherwise result in wrinkling, premature aging or actinic cheilitis.
“Various manufacturers are now also investing in product innovations, faster and long-lasting formulas, and adding attractive ranges to increase their consumer base. Germany currently represents the largest market in Europe followed by the United Kingdom,” stated ResearchAndMarkets.com in a release.