Making one’s lips look beautiful is a huge part of many makeup routines because one’s lips are attention-grabbing, meaning they can easily make or break a cosmetic look. So, what better way to beautify the lips than with lipstick?
Women have used colors to make their lips more appealing since 3000 BC. However, 1884 was the turning point for these products as the first commercial lipstick debuted.
Lipsticks have come a long way from their traditional formulas with the advent of more modern, cruelty-free variants. And the best part? There’s a wider variety to choose from as well!
This article will highlight six amazing lipstick trends businesses can profit from in 2024.
Table of Contents
How big is the lipstick market?
Six lipstick trends to consider in 2024
Rounding up
How big is the lipstick market?
Lipsticks are among the most popular cosmetic products globally. Experts say the global lipstick market accumulated US$ 9.2 billion in 2023. They predict the market will hit US$ 14.2 billion by 2032 at a 4.8% compound annual growth rate (CAGR).
The report further stated that the market owes its current growth to increasing urbanization, the rising number of working women, and increased demand among women due to their increased purchasing power. The research also suggests that demand for lipsticks will increase as more women become more conscious of their physical appearance.
Top market highlights from the market include:
Satin/sheer lipsticks accounted for the largest sales, while matte variants were the second-largest. Red lipsticks also dominated sales in the lipstick market, with ages 18-30 being the most profitable segment globally.
Europe currently leads the global lipstick market, with experts predicting the region will maintain its dominance over the forecast period.
Six lipstick trends to consider in 2024
High-shine lipsticks
High-shine lipsticks are the best bet for amazing sheer lips. They offer lightweight formulas that consumers will find effortless to apply and are comfortable to wear throughout the day. High-shine lipsticks also have smooth textures that glide seamlessly onto the lips, creating a hydrating and luxurious feel.
What sets high-shine lipsticks apart from other types is their high-pigmented formulas. How? They have an intense color payoff, easily providing vibrant and eye-catching looks. The high pigmentation ensures that any look with high-shine lipsticks stands out while enhancing natural beauty.
Despite their intense color, high-shine lipsticks offer the same benefits as lip balms. Their lightweight formula can keep lips moisturized, preventing dryness and flakiness. Because of this dual functionality, ladies can enjoy the aesthetic appeal of bold colors without compromising on lip care.
Moreover, high-shine lipsticks are versatile enough to accompany women on various occasions. From casual beach outings to more formal get-togethers, their adaptability makes them the go-to choice for any time of the day or night.
Matte lipsticks
Matte lipsticks may not have any shine and glam, but they’re one of the best ways to get maximum color payoff. Despite being non-shiny, these richly pigmented lipsticks can create a dramatic effect that women can rock all day long.
Velvet matte lipsticks are one of the most popular options for this type. They use traditional lipstick formats, making them the perfect way for consumers who enjoy a blend of classy and modern looks. The best part is these lipsticks come in every possible shade. Also, they have incredible transfer resistance and are smudge-resistant.
True to their name, these lipsticks create a velvety matte effect with high pigment levels. The best part is they also have incredible staying power, meaning they won’t come off easily—and they can even work on dryer lips.
Liquid matte lipsticks are also making a huge splash in the beauty world. Many women find their thick liquid formulas easier to use than solid variants. They’re also smudge-proof, transfer-proof, and long-lasting lipsticks with a high matte payoff.
Powder lipsticks
Powder lipsticks are a cutting-edge trend in the lipstick world. Unlike traditional lipsticks, these innovative products offer bold colors with an even spread. The results? A distinctive yet attractive thinned-out matte effect.
Their formulas are soft and velvety, making them incredibly easy to apply. Powder lipsticks often glide effortlessly onto the lips, creating a comfortable and weightless feel.
However, what makes powder lipsticks stand out is their fantastic blurred finish. Since their formulas are porous, they diffuse colors more effectively. As a result, powder lipsticks can create a soft and hazy lip appearance—a popular, modern, and trendy look!
But that’s not all. Powder lipsticks also have flexible applications. Ladies can use them with a brush for precision or go with fingers for more casual and effortless applications. Consumers are free to experiment with different application techniques!
Frosty or metallic lipsticks
Metallic lipsticks have a rich history. They first debuted in the 90s before becoming a popular look for that era. However, the trend has endured over the years, making metallic lipsticks a timeless choice for rocking amazing and bold looks.
Why have these lipsticks not faded away from the spotlight? Because of their impressive ability to reflect light. Consumers love the dazzling effect on their lips. And it does more than impart a radiant shine! The metallic effect also gives the illusion of fuller and plumper lips.
Usually, manufacturers pack these lipsticks with high pigments to give them their metallic finish. Here’s where things get interesting: some products go the extra mile by adding tiny flecks of glitter or shimmer, a level of brilliance, and increasing glistening quality.
Creamy lipsticks
Do consumers want something more hydrating than matte lipstick? Creamy lipsticks may be what they’re looking for. Unlike the often drying and flat finish popular with matter variants, creamy lipsticks come in liquid forms with smooth, moisturizing textures.
Creamy lipsticks are also popular for their quick-drying time, typically taking less than a minute to set. For this reason, creamy lipsticks will stay in place without smudging or transferring, providing a long-lasting effect that can endure up to 6 hours of wear time!
And if consumers prefer softer, more natural lip appearances, creamy lipsticks are their unsung heroes. Wait, it gets better! Creamy lipsticks are also a top choice for ladies with smaller lips. Their smooth and hydrating formula helps create a volumizing effect, giving the illusion of fuller lips.
Glossy lipsticks
Remember the thick, sticky formulas reminiscent of middle school lip glosses? Glossy lipsticks have taken that concept further, allowing women to rock a sophisticated wet or glass-like finish.
Unlike their predecessors, modern glossy lipsticks perfectly balance comfortable wear with a luminous shine. They also offer light to medium opacity, allowing consumers to subtly showcase their natural lip color.
However, glossy lipsticks have the lowest staying power. But, the trade-off here is the continuous hydration they provide. Glossy lipsticks also create plump and luscious appearances, using a radiant sheen to enhance natural lip contours.
But wait, there’s more. Glossy lipsticks are also versatile. Ladies can layer them over other lipstick types for the perfect customized look. For instance, they can add a shiny layer on matte lipsticks, transforming the look by adding dimension and a touch of shine.
Rounding up
Whether women want soft, subtle looks or something more dramatic, lipsticks are the simplest and quickest way to get the desired aesthetic. They’re key to tying the overall makeup look together, preventing women from looking bland or incomplete.
But with so many lipstick choices available today (thanks to modern technology), it may be overwhelming for businesses to enter the market. But there’s no need for concern! Leverage the six lipstick types discussed in this article and watch sales grow in 2024.
