Canada Cosmetic Products Market Size

Statistics for the 2023 & 2024 Canada Cosmetic Products market size, created by Mordor Intelligence™ Industry Reports. Canada Cosmetic Products size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Canada Cosmetic Products Industry

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Canada Cosmetic Products Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.45 %
Market Concentration High

Major Players

Canada Cosmetic Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Cosmetic in Canada Market Analysis

The Canada cosmetic product market is projected to register a CAGR of 6.45% during the forecast period.

  • Over the long term, with the rising awareness about the benefits of natural ingredients, the popularity of natural cosmetics is expected to accelerate. This coupled with the steady rise in the purchase of premium functional products in the country over the years, is expected to aid the market's recovery over the forecast period. 
  • Moreover, the increasing demand for natural or organic, no animal tested, and cruelty-free cosmetic products and innovative and eco-friendly packaging designs is expected to enhance the market further in the country. In addition, social media and e-commerce channels have significantly increased the popularity and availability of cosmetics and skincare segments, driving the industry's growth.
  • The country witnessed a significant increase in household expenditure, the inclination of people toward spending on appearance, and an increasing settlement of the ex-pat population in the country. 
  • For instance, according to StatCan, Canada's average annual household expenditure on makeup, skin care, and manicure products amounted to USD 188.8 in 2021. In 2021, the manufacturers focused more on innovative packaging of products as men and women were attracted to the design and exclusive product packaging. Also, there is a rise in the utilization of cosmetics among men in their daily regime. This is expected to further boost Canada's cosmetics products market in the forecast period.

Cosmetic Industry in Canada Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)