01.18.19
The lipstick market is projected to surpass $5.1 billion by 2023, according to ResearchAndMarkets.com's report, "North America Lipstick Market By Product Type, By Distribution Channel, By Country, Competition, Forecast & Opportunities, 2013-2023."
Anticipated growth in the market can be attributed to rising focus of manufacturers towards product innovation. For instance, lipsticks are now coming with moisturizer and other properties.
Moreover, people are now showing inclination towards chemical free cosmetics and are thus opting for organic and natural cosmetics including lipstick, which is anticipated to fuel lipstick market in the region.
Additionally, improving consumer confidence index is resulting in increasing consumer spending on discretionary products, which is further anticipated to positively influence North America lipstick market in the coming years.
Anticipated growth in the market can be attributed to rising focus of manufacturers towards product innovation. For instance, lipsticks are now coming with moisturizer and other properties.
Moreover, people are now showing inclination towards chemical free cosmetics and are thus opting for organic and natural cosmetics including lipstick, which is anticipated to fuel lipstick market in the region.
Additionally, improving consumer confidence index is resulting in increasing consumer spending on discretionary products, which is further anticipated to positively influence North America lipstick market in the coming years.