North America Beauty and Personal Care Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 110 Pages I Mordor Intelligence
The North American Beauty and Personal Care Products Market is projected to grow at a CAGR of 2% during the forecast period (2022-2027).
Since most of the sales for beauty products were from brick-and-mortar locations, the lockdown due to the COVID-19 pandemic initially dealt a blow to the United States market. Store closures and manufacturing halts significantly affected sales as companies were forced to stop their operations due to a lack of inventory.
The changing and busy lifestyles of the consumers in the region have led to a rise in demand for multifunctional beauty and personal care products as the consumers are following holistic approaches to beauty and health care rather than treating each as a separate segment. Consumers are looking for products requiring minimal application time and prioritizing quality over quantity, leading to increased demand for premium beauty products. Companies have turned to production facilities locally due to a growing demand for "Made in the USA" products.
The region provides many brands with opportunities for innovation and expansion regarding color cosmetics. Skincare and hair care are the major growing segments in this region. Brands are building their equity by focusing on ambassador marketing and improving relations with macro and micro-influencers. Celebrities and successful individuals within the entertainment industry are banking on their large fanbases and social media followers by launching their product lines in the market.
North America Beauty & Personal Care Products Market Trends
Growing Demand for Natural and Organic Cosmetics Products
Natural and organic cosmetic products are gaining high prominence in this region with the increasing awareness and growing preference for luxury personal care brands. Factors, such as consumer knowledge and an increase in awareness of products about the benefits of organic products and services, through digital media and other sources, coupled with the advent of social media, are adding to the growth in the region. Consumers in the United States are increasing their consumption of herbal beauty products, particularly skincare and hair care products, due to their 'vegan,' 'natural,' 'organic,' 'botanical,' and 'free from' labels. For example, in June 2021, SO'BiO etic, a French organic beauty brand, launched its organic beauty product line in the United States. The company believes in developing healthy beauty products for its consumers and the environment and follows eco-friendly production values throughout its supply chain.
The United States Holds the Largest Market Share
The US beauty and personal care market has been growing rapidly. The consumers in the country have registered an increasing average annual expenditure on personal and beauty care products over the years, which in turn is augmenting the growth of the market in the country. The rising cases of oral problems in the country are projected to augment the United States oral care market. As per the report published by the American Dental Association, dry mouth, sensitivity, and tooth pain were found to be the most frequent oral problems among Americans, which majorly boosts the market for oral care products in the country.
North America Beauty & Personal Care Products Market Competitor Analysis
The North American Beauty and Personal Care market is highly fragmented, with many regional and global players. The major strategies adopted by the companies operating in the market are - product innovations, expansions, and mergers and acquisitions. An advanced distribution network gives the manufacturers an upper edge, expanding their range of products across the region. Moreover, it is crucial for players to continuously innovate, operate, and grow in the market due to the rapidly changing consumer demands and preferences. Moreover, companies are using digital and social media advertisements to make consumers aware of their new product launches.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Personal Care
5.1.1.1 Hair Care
5.1.1.2 Skin Care
5.1.1.3 Lip Care
5.1.1.4 Deodrant and Antiperspirant
5.1.1.5 Bath and Shower
5.1.1.6 Oral Care
5.1.1.7 Men's Grooming
5.1.2 Beauty & Make-up / Cosmetics
5.1.2.1 Colour Cosmetics
5.1.2.1.1 Facial Make-up Products
5.1.2.1.2 Eye Make-up Products
5.1.2.1.3 Lip and Nail Make-up Products
5.1.2.2 Hair styling and coloring products
5.2 By Category
5.2.1 Premium Skin Care Products
5.2.2 Mass Skin Care Products
5.3 By Distribution Channel
5.3.1 Specialist Retail Stores
5.3.2 Supermarkets/Hypermarkets
5.3.3 Convenience Stores
5.3.4 Pharmacies/Drug Stores
5.3.5 Online Retail Channels
5.3.6 Others
5.4 Geography
5.4.1 United States
5.4.2 Canada
5.4.3 Mexico
5.4.4 Rest of North America
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 L'Oreal SA
6.4.2 Unilever PLC
6.4.3 Procter & Gamble Co.
6.4.4 Estee Lauder Companies Inc.
6.4.5 Beiersdorf AG
6.4.6 Johnson & Johnson Private Limited
6.4.7 Shiseido Co. Ltd
6.4.8 E.L.F Cosmetics Inc.
6.4.9 Revlon Inc.
6.4.10 Coty Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19
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