Market Trends of Canada Cosmetic Products Industry
This section covers the major market trends shaping the Canada Cosmetic Products Market according to our research experts:
Innovative Packaging Fascinate Consumers
- Consumer demand for enhanced functionality and eco-friendliness in cosmetic design is resulting in exciting innovations in the packaging and design of cosmetics products.
- Manufacturers are offering a wide variety of innovative choices and creative technologies to serve the market. Various significant cosmetics companies are showing innovative changes in packaging and design. For instance, Procter & Gamble has shifted to plant-derived packaging for some of its leading global cosmetic brands and uses sugarcane-derived plastic from Brazil's Braskem.
- In addition, L'Oréal recently helped to reduce the environmental impact of its packaging by introducing two new assessment tools, namely, sustainable packaging scorecard (SPS) and packaging impact quick evaluation tool (PIQET), to its package design process.
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Premium Cosmetics are Projected to Grow at a Significant Rate
- The increasing trend of using sun protection creams, skin repair night creams, fragrances, trending hair colors, and many more, is boosting the market as consumer demands for all these products are increasing daily.
- With growing consumer concern over the health benefits of the beauty routines they follow to achieve attractive personalities and positive attitudes, the consumer prefers more premium products which contain natural and non-invasive ingredients, which leads to a rise in the purchasing volume of cosmetics in Canada.
- L'Oréal Canada, with its successful premium brands Lancôme and IT Cosmetics, leads the premium cosmetics segment in the country. The company has invested in digital strategies to enhance its market share.
- For instance, due to the availability of premium cosmetics products on e-commerce retail websites company's sales raised by 62% in broad segments and regions for the year 2021.
