The attention to one’s physical appearance, especially for women, has been a major aesthetic aspect of the society since perhaps the start of civilization, or at the very least, since the gender roles came into being. In the modern society, the adherence to a regulated personal care routine has become very common, for both men and women. However, for women, most of the time, the consciousness regarding physical appearance is not limited to just paying attention to personal hygiene, but the usage of different cosmetic products, such as eyeliners, lipsticks, and make-up, is also of significant importance.

The demand for such products has further been rising because of the growing number of working women and the increase in disposable income of people. As physical appearance has often been related to confidence, a large number of working women make use of cosmetic products, including lipsticks for feeling more confident and enhancing their personality. As per a report by P&S Intelligence, in 2018, the market for lipstick reached a value of $9.2 billion, and it is projected to generate a revenue of $13.4 billion by 2024, progressing at a 6.6% CAGR during the forecast period (2019–2024).

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Lipsticks are of different types such as shimmer/pearl/frost, satin/sheer, luminous, matte, metallic, crème, natural, and glossy. Out of these, the largest demand in 2018 was created for satin/sheer lipsticks, however, the adoption of matte lipsticks is also expected to increase considerably in the coming years. This is due to the shifting preference of consumers related to the availability of wide range of color shades in the market. Among different types of colors, including maroon, nude, red, and pink, red-colored lipsticks were the most in demand in 2018. Apart from this, the demand for nude lipsticks is growing rapidly as well.

Different types of lipstick applicators are lipstick palette, lipstick tube/stick, lipstick pencil, liquid lipstick, and lipstick cream. Lipstick tube/stick have been the most preferred applicators among the consumers. These different types of lipstick products are available on various distribution channels, such as convenience stores, departmental stores, cosmetic stores, supermarkets/hypermarkets, and online. The highest demand for lipsticks were create from departmental stores in 2018. But other than this, online channels are becoming increasingly popular when it comes to the sales of such products. This is primarily attributed to the fact that working women prefer online channels for shopping.

Women between the ages of 20–30 years have been creating the largest demand for lipstick across the globe, as most of the women under this age group are working women. Geographically, Europe emerged as the largest lipstick market in 2018, however, the Asia-Pacific region is also expected to create a considerable demand for different lipstick products in the coming years. This is because of the growing social media influence and improving female financial independence in the region.

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In conclusion, the rising number of working women and growing consciousness regarding physical appearance is driving the demand for lipsticks.