Market Insights Consumer Beauty & Personal Care Cosmetics

Lip Cosmetics - Canada

Canada

In 2024, the revenue in Canada's Lips market is estimated to reach US$373.00m.
It is projected to experience an annual growth rate of 2.00%, calculated as the compound annual growth rate (CAGR) from 2024 to 2028.
When compared globally, in the United States generates the highest revenue in the Lips market, amounting to US$4,000m in 2024.
In terms of per person revenues, Canada's Lips market generates US$9.54 per person in 2024.
The demand for organic and cruelty-free lip products is growing rapidly among Canadian consumers.

Key regions: Malaysia, United Arab Emirates, Canada, Worldwide, Singapore

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.