Technavio’s research report titled “Global Lip Care Products Market 2016-2020” shows that the global lip care products market is expected to grow at a CAGR of more than 4% during the forecast period 2016-2020. Research includes analysis and forecasts for various market segments and all geographical regions.
 
According to Brijesh Kumar Choubey, a lead analyst at Technavio for cosmetics and toiletry research, “The global lip care market is seeing increased demand for organic and natural lip care products, alongside growing interest in lip care products for men and rising awareness about the need to protect lips from overexposure to the sun. Europe is the leading market, followed by the Americas, APAC and MEA.”
 
Global non-medicated lip care products market 
The report categorizes the global lip care products market into three major product segments: non-medicated lip care products; medicated and therapeutic lip care products; sun protection lip care products; global non-medicated lip care products market
 
This global non-medicated lip care products market is likely to reach $1.5 billion by 2020, growing at a CAGR close to 4%.
 
Non-medicated lip care products include lip butters, lip conditioners, and lip balms that provide moisturizing benefits and shine. The primary target consumers for these products are teenagers and Millennials. Product and brand loyalty plays a vital role in this segment. Popular brands include ChapStick, Vaseline, Carmex and L’Oréal.
 
Global medicated and therapeutic lip care products market
The market for medicated and therapeutic lip care products is expected to exceed $616 million by 2020, growing at a CAGR of over 6%.
 
Blistex, Vaseline, Burt’s Bees, ChapStick, EOS, and Maybelline are a few vendors that manufacture medicated lip balms.
 
Global sun protection lip care products market
The market for sun protection lip care products is likely to exceed $143 million by 2020, growing at a CAGR of almost 6%.
 
The extreme heat and UV radiation of the sun are harmful to the human skin, particularly so for the sensitive skin of the lips. “Vendors are investing significantly in efforts to raise awareness of the benefits of using lip care products with SPF ratings. They have launched lip care products with varied SPF levels to suit different skin tones,” says Brijesh. Some of the popular vendors manufacturing sun protection lip care products are Beiersdorf, Johnson & Johnson, and L’Oréal.
 
The top vendors in the global lip care products market highlighted by Technavio’s research analysts are: Avon Products; Beiersdorf; L’Oréal; Revlon; Unilever