Lip balm or lip salve is a wax-like substance applied typically to the lips to moisturize and relieve chapped or dry lips, angular cheilitis, stomatitis, or cold sores. Lip balm often contains beeswax or carnauba wax, camphor, cetyl alcohol, lanolin, paraffin, and petrolatum, among other ingredients.

As in fashion, luxury cosmetic lines release products on a seasonal basis. Colourpop created products with great pigmentation in a wide range of colors to attract millennials who wanted high-quality items without the luxury brand price.