|Study Period:||2016 -2027|
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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.
Scope of the Report
Beauty and Personal Care Products are consumer products for cosmetic purposes and personal grooming. North America beauty and personal care market report is segmented based on product type, category, distribution channel, and geography. The segmentation based on product type includes personal care and Beauty & Make-up / Cosmetics. By category, the market is segmented into premium skin care products and mass skin care products. Distribution channels include specialist retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, and others. By Geography, the market is segmented into the United States, Canada, Mexico, and Rest of North America. For each segment, the market sizing and forecast have been done based on value (in USD million).
|By Product Type|
|Premium Skin Care Products|
|Mass Skin Care Products|
|By Distribution Channel|
|Specialist Retail Stores|
|Online Retail Channels|
|Rest of North America|
Key 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 étic®, 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.
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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.
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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.
In March 2022, Hollywood actress Scarlett Johnson launched her clean skincare line, The Outset. The brand has five products that reflect the actress's minimal skincare routine. The brand eliminated 2,700 potentially dangerous chemicals from its items in favor of using only clean substances. The products' prices range from USD 32 to USD 54 and will be available on the brand's website and at outlets of the retail chain Sephora from April.
In February 2022, Beiersdorf Group completed its acquisition of Chantecaille Beaute Inc., a leading prestige beauty company based in New York City, United States. The enterprise value of Chantecaille is estimated to be between USD 590 million and USD 690 million, depending on future growth. The company has an annual revenue figure of over USD 100 million, and its best-selling products are its face masks, moisturizers, and lipsticks, which are free from phthalates, sulfates, mineral oil, petrolatum, palm oil, and GMOs.
In January 2022, Proctor & Gamble acquired Tula Skincare, a prestige beauty start-up based in New York City, United States. The company has an annual turnover of USD 150 million and has a product portfolio consisting of superfood-based and probiotic premium cosmetics and skincare items.
Table of Contents
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
188.8.131.52 Hair Care
184.108.40.206 Skin Care
220.127.116.11 Lip Care
18.104.22.168 Deodrant and Antiperspirant
22.214.171.124 Bath and Shower
126.96.36.199 Oral Care
188.8.131.52 Men's Grooming
5.1.2 Beauty & Make-up / Cosmetics
184.108.40.206 Colour Cosmetics
220.127.116.11.1 Facial Make-up Products
18.104.22.168.2 Eye Make-up Products
22.214.171.124.3 Lip and Nail Make-up Products
126.96.36.199 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
5.3.3 Convenience Stores
5.3.4 Pharmacies/Drug Stores
5.3.5 Online Retail Channels
5.4.1 United States
5.4.4 Rest of North America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
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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Frequently Asked Questions
What is the study period of this market?
The North America Beauty and Personal Care Products Market market is studied from 2016 - 2027.
What is the growth rate of North America Beauty and Personal Care Products Market?
The North America Beauty and Personal Care Products Market is growing at a CAGR of 2% over the next 5 years.
Who are the key players in North America Beauty and Personal Care Products Market?
Beiersdorf AG, Estée Lauder Companies Inc., Procter & Gamble Co, L'Oréal S.A., Unilever PLC are the major companies operating in North America Beauty and Personal Care Products Market.