When it comes to maintaining lip health, a variety of products float in the market, but the two most common and popular ones are lip balm and lip gloss. A basic lip care product primarily designed to keep lips in good health, lip balm hydrates, heals, and protects your lips from dryness, cracking, and environmental damage. On the other hand, lip gloss is more of a cosmetic to bring a tint and shiny finish to the lips.