28 December 2018
– The Global Lip
Balm Market is expected to grow at a lucrative CAGR over the
eight year period owing to its usage for lips of the mouth to relieve and
moisturize dry or chapped lips, cold sores, angular cheilitis, and stomatitis.
Lip balm contains carnauba wax or beeswax, cetyl alcohol, camphor, lanolin,
petrolatum, and paraffin among other ingredients. Certain varieties contain
flavor, phenol, sunscreens, dyes, fragrance, and salicylic acid. Rise in
pharmaceuticals sector is estimated to fuel the demand in the near future.
Major regional markets include Central & South America,
North America, Middle East & Africa, Asia Pacific, and Europe. Among the
developing region India and China are projected to dominate the regional market
owing to its huge presence in pharmaceuticals sector. China is presumed to show
highest growth in the regional market as it is one of the emerging economies.
Increase in roughness on the lip surface is presumed to fuel the market growth.
Thus demand for lip balm is expected to increase over the forecast period. The
companies are presumed to invest on R & D to develop better product.
Product innovation will open new opportunity for the market. Thus is expected
to propel the industry demand over the eight year period.
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Asia-Pacific is expected to witness the fastest growth over
the forecast period owing to growing demand for pharmaceuticals. India, China,
South Korea, and Taiwan are projected to account for the foremost market share
in the region. The Middle East & Africa is projected to see significant
growth by 2024 mainly owing to increasing industrialization, globalization, and
urbanization. The market has huge potential in this region primarily owing to
growing economic development, and rising purchasing power parity.
The research report on global methyl oleate market projects
drivers, opportunities, growth figures, restraints, and trends. These factors
are expected to be seen in this market over the forecast period of 2016 to
2024. For this purpose, our research is done to understand the overall
Industry. The study is done by studying different segments such as region and
application. The industry structure is observed from the recent past and the
future growth is estimated over the eight year period based on the data
collected. The research is done on an extensive secondary & primary data
collection method from secondary and primary sources.
The primary and secondary data are studied and are kept as
base to project the CAGR for each segment. Each segment growth is estimated in
terms of price in USD & volume. This report will provide in depth analysis
about the market trends and restraints which is expected to have affect the
growth over the forecast. The basic overview of the global methyl oleate market
is included such as classification, industry value chain, definitions and
application. Moreover, the report provides the competitive landscape for the
industry.
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Market Segment:
Key Applications
•
Lip balm for women
•
Lip balm for men
•
Lip balm for baby
•
Other dedicated lip balm
Key Regions
·
North America
·
Europe
·
Asia Pacific
·
Middle East and Africa
·
South America
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