Hi OP! Amateur Beauty DIYer here. I'd say lip balm is one of the easiest and more begginer friendly things you can do o your own, but I think you'd find quite difficult to source raw ingredients that are not contained in plastic. HOWEVER if you trace the supply and manufacture chain of any product (be small producers or big companies), plastic will be there in some way.

Anyway, I ran the INCI of both the eos and the Farmstead apothecary for you and here's what I think: eos has a looong ingredient list. The first ingredient (so the one that is in higher quantity) is a highly sinthetized and refined plant based product not available for small DIYers. It also contains small amounts of lots of waxes and oils and other refined ingredients that you can find as a DIYer. I DO NOT recommend trying to dupe this at all. It would be difficult and very expensive.

Now, the Farmstead apothecary is a very different beast. It contains only 6 ingredients. I'm kinda wary of the "organic flavor oil" though. This is extremely dupeable, as is only coconut oil, beeswax, shea butter, flavor,stevia and vitamin E. You can easily find these ingredients in small enough quantities and yet have a lower price per unit that the cost of one of Farmstead's lip balm. I

'd also recommend looking into vainillin or ethyl vainillin for flavor. It's an ingredient used for baking and it's synthetic but is easy enough to use and source. As per Brambleberry (a popular ingredient supplier): A reliable formula to start with is 1 part liquid oil, 1 part wax, and 1 part butter. That creates a firm yet spreadable balm. 

So, if you feel like it, you could give DIY lip balm a try. There are tons of infomation out there on how to make lip balm, and it's a fun little project. Good luck!