The Lip Make-Up Preparations market in Australia demonstrated significant fluctuations from 2012 to 2022. Starting at $215.67 million in 2012, the market experienced a rising trend with a peak in 2017 at $427.79 million. The market then saw some decline and stagnation but rebounded to $438.37 million by 2022. Notably, 2015 and 2016 witnessed strong year-on-year growth of 19% and 18.7% respectively, contributing to a robust 14.68% CAGR over five years leading up to 2017. However, from 2018, the CAGR slowed to just 0.49% by 2022.
Recent years show a recovery post-pandemic with 8.53% and 2.95% growth in 2021 and 2022. Looking forward, the market in 2023 is estimated to continue this upward trend, building on the 2022 value.
Future trends to watch for include a surge in sustainable and clean beauty products, increased demand for multi-functional lip products, and the growing influence of social media and digital marketing in driving consumer preferences.
How does Australia rank in Lip Make-Up Preparations Market Size Value?
| # | 42 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 7,707,300,000 | 2023 | +3.25% | +4.53% | View data |
| 2 | 2 France | 1,564,800,000 | 2023 | +3.54% | +3.84% | View data |
| 3 | 3 United Kingdom | 1,278,700,000 | 2023 | +1.8% | +2.55% | View data |
| 4 | 4 Germany | 919,270,000 | 2023 | +2.33% | +1.9% | View data |
| 5 | 5 Canada | 855,050,000 | 2023 | +2.72% | +3.39% | View data |
| 6 | 6 South Korea | 462,980,000 | 2023 | +3.8% | +2.9% | View data |
| 7 | 7 Australia | 450,670,000 | 2023 | +2.81% | +2.65% | |
| 8 | 8 Mexico | 220,350,000 | 2023 | +1.68% | +1.96% | View data |
| 9 | 9 Saudi Arabia | 208,760,000 | 2023 | +2.47% | +4.22% | View data |
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