And with the global market for lip powders poised to grow by a CAGR of 6% during the period 2019 to 2027, the team at intelligence provider Future Market Insights believes that this additional growth could prove to be the tipping point.
Although the trend is a global phenomenon, it is in the vast Asia Pacific region that the trend for lip powders is really being played out, and it is here that the highest revenue share of the global market can be found.
Consumers believe powders are best
According to the Future Markets team, lip powders are gaining traction because of the advantages over conventional products, which including the fact that they can be infused with beneficial ingredients such as hydrating oils and vitamin E.
The enhanced formulation of powders helps to create a smoother and longer-lasting finish, as well as different aesthetics that include matte and shimmer finishes – all of which are harder to achieve in conventional lipsticks.
This in turn is creating a far greater choice for consumers, who are jumping at the opportunity to achieve new and more interesting lip finished, with the added benefits of additional functionality such as lip care.
Some of the biggest players in the lip powders market currently include Chanel, Buxom Cosmetics, Clinique, Essence Cosmetics, NYX, L’Oreal and Cult Beauty.
Palettes or pens?
Currently the most prominent forms for lip powders are palettes or pens, but the palettes are proving to be more popular mainly because of convenience and ease of application.
Moving forward, it is likely that lip palettes will continue to experience particularly high growth, derived from continued product innovation, but also enhanced retail landscapes and strengthening distribution channels.
But the research team also points to the fact that lip powders do have limitations, in particular the fact that it is harder to disguise physical lip imperfections with this type of application.
On top of this, the comfort zones and trusted habits of some women’s color cosmetic regimes means that the market for conventional lip products is likely to remain reasonably solid.