The global lipstick market size is projected to reach nearly 80.23 billion yuan by 2031, with a CAGR of 5.8% over the next six years.

According to YHResearch market data, international lipstick brands are represented by Yves Saint Laurent, Givenchy, Dior, and Chanel, while domestic players include leading brands like Herborist, Ziyouquan, Meikang Fenda, and Huaxizi.

I. Global Market: Steady Expansion with Asia-Pacific as Key Growth Engine
YHResearch statistics indicate the global lipstick market reached approximately RMB 54.12 billion in 2024. It is projected to maintain steady growth, reaching nearly RMB 80.23 billion by 2031 with a CAGR of 5.8% over the next six years.
Albéa, ILEOS, HCP, World Wide Packaging, and LIBO Cosmetics lead the lipstick industry, collectively holding about 45% market share. Europe remains the primary region, accounting for roughly 40% of the global market.

Growth drivers stem from three key areas: surging consumption power in Asia-Pacific, expanding male beauty markets, and iterative product innovation. The Asia-Pacific market contributes over 50% of incremental growth, serving as the core engine of global expansion.

II. China Market: Online Dominance, 62 Billion Yuan Market Size Sees Recovery
Following short-term fluctuations in 2023, China's lipstick market achieved robust recovery by 2025. According to a report by Beijing Boyan Media, the market size is projected to reach 62 billion yuan, representing a 12% year-on-year increase, with online channels accounting for over 60% of sales.
Generation Z (born 1995-2010) emerged as the core consumer group, accounting for over 60% of purchases. Their preference for mini-sized products, limited editions, and socially engaging items fueled explosive demand in niche segments. Consumers with sensitive skin showed strong demand for “repairing” lipsticks, achieving a repurchase rate of 48%—significantly higher than the industry average.

III. Competitive Landscape: Domestic Brands Break Through While Foreign Luxury Brands Hold Ground
Domestic Brands: Market Share Surpasses Foreign Rivals Through Innovation
In 2023, domestic brands captured 52.6% of the lipstick market, a 7.8% year-on-year increase. Perfect Diary leveraged content marketing on Xiaohongshu and Douyin, with its “mini-size” series sales surging 25.3% in 2023. Huaxizi reduced costs by 15% through bamboo fiber composite tubes, successfully penetrating tier-3 and tier-4 markets. Emerging brand Shengshilu broke through with its “sandwich film-forming technology,” delivering long-lasting wear.

International Brands: Fortifying High-End, Testing Tier-Down Markets
YSL and Dior solidified their dominance in the ¥300+ price segment with 78% market share through limited-edition packaging and celebrity endorsements. One brand's collaboration sparked over 100,000 UGC posts, reinforcing its premium positioning. MAC launched a “mini-size” line to lower barriers, targeting younger demographics for market expansion.

IV. Four Major Trends Reshaping the Lipstick Industry Ecosystem
Premiumization and Functionalization Advance in Tandem
International brands dominate the high-end market, with YSL and others boosting premiums through artist collaborations. Functionally, long-lasting color retention and lip nourishment become standard features. Shengshilu employs natural film-forming agents and ceramide-like ingredients to achieve dual effects of color lock and repair. Smart lipsticks introduce innovations like “temperature-sensitive color-changing” to lead technological trends.

Sustainability Implementation Accelerates
Over 60% of consumers are willing to pay a premium for eco-friendly packaging. L'Oréal's “Planet No.1” series uses recycled plastic packaging, with market share projected to reach 35% by 2025. Some companies are building end-to-end “raw material-production-recycling” chains, reducing carbon emissions through acquisitions of bio-based material firms.

Deep Integration of Online and Offline Channels
Emerging brands achieve 35% customization through private domain operations, offering personalized tube designs. Domestic brands accelerate global expansion, with Southeast Asian overseas warehouses cutting delivery times from 15 to 3 days and boosting annual orders by 29%.

Conclusion
Lipstick has evolved from a cosmetic item into a multifaceted carrier of technology, culture, and emotion. China's ¥62 billion market in 2025, intertwined with global trends toward premiumization and sustainability, propels the industry into a “value economy” phase. Whether domestic brands break through with technological innovation or international brands adjust strategies, the core logic remains: centering on consumer needs to reshape growth paradigms through the integration of technology, design, and channels.

The above data references YHResearch's “2025 Global and China Lipstick Industry Leading Enterprises Market Share and Ranking Research Report.” YHResearch offers comprehensive industrial consulting services including in-depth industry research reports, business plans, feasibility studies, and customized solutions.