Global Market Size of Lip Plumper Serums (2024-2030)

As of 2023, the global market for Lip Plumper Serums reached a valuation of USD 4.12 billion, with estimations projecting a rise to USD 5.9 billion by 2030, indicating a Compound Annual Growth Rate (CAGR) of 4.6% for the period spanning 2024 to 2030.

Market Overview:

The Lip Plumper Serum market offers cosmetic solutions designed to augment lip volume, achieved through the use of both permanent and temporary fillers. Common substances such as Hyaluronic acid and fats are utilized to achieve the desired effects. Noteworthy FDA-approved products include Restylane L, Belotero Balance, and JuvedermVollure. There exists a growing preference for organic and natural lip plumpers, as consumers increasingly seek safer alternatives devoid of synthetic or hazardous chemicals. Furthermore, the prevailing trend towards personal grooming and wellness has drawn a larger female consumer base towards these products.

Impact of COVID-19 on the Global Lip Plumper Serum Market:

The COVID-19 pandemic had a notable impact on the sales of lip care and beauty products, especially in traditional offline retail channels. Major chains, brick-and-mortar establishments, and other retailers reported significant declines in sales during this period. For example, The Boots Company PLC experienced a substantial decrease in beauty product sales by approximately two-thirds between March and April 2020. However, a rising trend in DIY and self-care lip and beauty products is emerging globally, expected to recover during the forecast period. Particularly in the U.S., there is an increasing demand for organic products, reflecting a shift towards vegan options. Manufacturers in this region are now focusing on developing sustainably sourced lip plumping solutions in response to growing concerns about plastic reduction and waste management.

Market Drivers:

The shift in consumer preferences for products aimed at lip plumping and lip filling processes is driving the global lip plumper serum market: 

The market for lip plumper serums is driven by shifting consumer preferences towards products catering to lip plumping and filling procedures. The popularity of at-home lip plumping solutions has expanded the consumer base for these products. Advancements in scientifically formulated at-home lip plumping serums have garnered global acceptance, with adults seeking to maintain youthful appearances and seniors aiming to combat signs of aging while keeping up with beauty trends. This shift in consumer preference is anticipated to propel market growth.

Increasing preferences for luxury products due to increasing disposable income is propelling the market growth of lip plumper serums: 

The market is further stimulated by an increasing preference for luxury products due to rising disposable incomes. Urbanization, coupled with a desire for modern products and technologies to enhance appearance, is driving the demand for lip plumper serums. The growing expenditure on personal care is swiftly drawing consumers towards these products.

The shift in payment preferences among customers to fuel the market growth of lip plumper serums: 

The market is also influenced by a shift in customer payment preferences. Awareness campaigns and marketing efforts are educating customers about various payment options, thereby increasing their popularity and contributing to an estimated market size growth in the forecasted years.

Market Restraints:

The high cost of lip plumper serums may restrain the global market growth in the forecasted years: 

The high cost associated with lip plumper serums may hinder market growth in the forecasted period. These products are considered premium and luxurious, leading to a potential restraint on market expansion.

Concerns regarding unpleasant side effects of lip plumper serums and creams pose a challenge to market growth.

As consumer focus shifts towards organic and natural skincare products, the popularity of chemical-based lip plumper serums is expected to decline. Reports of adverse reactions ranging from mild irritation to contact dermatitis among individuals with sensitive skin types are deterring factors for the lip plumper serum market's growth.

Lip Plumper Serum Market – By Type:

• Hyaluronic Acid Serums
• Poly-L-Lactic Acid Serums
• Lip Collagen Serums
• Others

The market for lip plumper serums can be classified into four segments based on type: Hyaluronic Acid Serums, Poly-L-Lactic Acid Serums, Lip Collagen Serums, and Others.

Hyaluronic acid serums hold the largest share of revenue, exceeding 29% in 2022, and are expected to experience the most rapid Compound Annual Growth Rate (CAGR) over the forecast period. This type of serum, naturally produced by the body, is well-received when applied externally, resulting in minimal associated risks.

Poly-L-lactic acid serums are also poised for significant growth and are forecasted to exhibit the second-fastest CAGR during the outlook period due to the safety and effectiveness associated with these fillers.

Lip Plumper Serum Market – By Distribution Channel:

• Hypermarket & Supermarket
• Pharmacy & Drug Stores
• Specialty Store
• Online
• Others

The lip plumper serum market's distribution channels can be segmented into five categories: Hypermarket & Supermarket, Pharmacy & Drug Stores, Specialty Store, Online, and Others.

The hypermarket and supermarket segment dominated with a share exceeding 51.0% in 2022. It is expected to maintain its leading position through the forecast period of 2024-2028 due to the strong consumer preference for purchasing lip-plumping products from these outlets. Supermarkets in regions like North America and Latin America have notably increased in number, strengthening their influence on suppliers. Offering advantages such as a wide selection, competitive pricing, discounts, and prominent display of international brands, supermarkets present an appealing platform for a diverse customer base.

The specialty store segment is projected to achieve the fastest CAGR of 8.7% from 2024 to 2028. Consumers, particularly those seeking specific brands or products, have shown an increasing interest in purchasing skincare items from these establishments. This trend is expected to contribute significantly to the segment's growth.

Lip Plumper Serum Market – By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East and Africa

The Lip Plumper Serum Market has been divided into five major regions: North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.

Asia Pacific leads the market with a revenue share exceeding 37.1% in 2022. This region is expected to maintain its dominance, exhibiting the fastest CAGR during the forecast period. Growing consumer interest in the latest beauty trends and hacks, particularly evident in countries like India, is driving the demand for these products.

Europe is anticipated to be the second-largest regional market, while Central & South America is forecasted to witness the second-fastest CAGR from 2024 to 2028. Manufacturers in the Central & South America region are focusing on developing lip care products containing natural and organic ingredients to attract new customer segments.

Lip Plumper Serum Market – By Companies:

1. L'Oreal S.A.
2. Unilever
3. Beiersdorf AG
4. The Colgate-Palmolive Company
5. The Estée Lauder Companies, Inc.
6. Johnson and Johnson
7. Avon Products, Inc.
8. Shiseido Co., Ltd.
9. The Procter & Gamble Company
10. Revlon, Inc.

The Lip Plumper Serum Market is characterized by high fragmentation and intense competition among key players, who continuously engage in research, development, and technological innovation.

Recent Industry Developments:

In June 2021, Ethique, Inc. introduced a new line of lip serums in the U.S. These products contain naturally derived, plant-based ingredients, are plastic-free, come in 100% home compostable tubes, and naturally plump the lips.