Market Trends of North America Cosmeceutical Products Industry
This section covers the major market trends shaping the North America Cosmeceutical Market according to our research experts:
Anti-Aging Products Remain the Fastest Growing Segment
Aging population was one of the primary factors driving the growth of the cosmeceuticals market in the recent past. Aging has been evolved as one of the primary beauty concerns faced by the male and female population alike, around the globe. Although aging is a natural process, many factors have been identified as causes for loss of elasticity and formation of wrinkles. These causes include damage from climatic conditions (sun, cold, and wind), smoking, stress, fatigue, malnutrition, and environmental irritants. With the rising pollution levels and consumers’ consciousness regarding health, the market for cosmeceuticals is expected to witness a robust growth over the forecast period. Though they are priced significantly higher than the conventional cosmetic products, due to the presence of active ingredients, growing disposable income has facilitated consumers towards purchasing these products, particularly in the highly developed roots of North America.
United States Dominated the North America Cosmeceutical Products Market
The United States belongs to one of the three main trading blocks of cosmeceuticals Market. The developed healthcare infrastructure and high per capita spending in the United States are expected to drive the growth of the cosmeceuticals market. Drug stores held a prominent share especially selling products like antiperspirants, antidandruff shampoos, and sunscreens in the United States. The cosmetic industry ranks high among the nanotechnology patent holders in United States. L’Oreal, which devotes 3.4% of its revenues to research and innovation, is the industry leader on nano patents followed by Procter & Gamble and Henkel. The cosmeceuticals market is one of the fastest growing industries in Canada and is dominated by international players. There has been a considerable demand for anti-wrinkle products in the North America region.
