Between 2012 and 2022, the Lip Make-Up Preparations Market in Mexico experienced a varied trajectory with an overall growth trend. The market value saw significant increases in 2013 and 2015, followed by a substantial growth spike in 2016, reaching $218.77 million. Year-on-year variability ranged from a high of 24.22% in 2016 to declines of around 4% in the subsequent years. The last two years showed moderate growth in 2021 and 2022, with increases of 7.18% and 1.75%, respectively. The Compound Annual Growth Rate (CAGR) over the last five years indicated a slight positive trend of 0.69%.
Future trends to watch for include consumer preferences shifting towards natural and organic products, technological advancements in make-up formulations, and potential impacts of economic fluctuations on consumer spending. Sustainability practices and inclusivity in product range are also expected to drive market dynamics moving forward.
How does Mexico 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% | View data |
| 8 | 8 Mexico | 220,350,000 | 2023 | +1.68% | +1.96% | |
| 9 | 9 Saudi Arabia | 208,760,000 | 2023 | +2.47% | +4.22% | View data |
| 10 | 10 Poland | 166,350,000 | 2023 | -1.12% | -1.02% | View data |