North America Beauty and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Beauty and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Beauty and Personal Care Products Market is projected to grow at a CAGR of 2% during the forecast period of (2019-2024)

Key Highlights

• 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 for care.
• The region is providing opportunities for innovation and expansion regarding color cosmetics by many brands. Skin care and hair care are the major growing segments in this region.
• Moreover, premium beauty and personal care segment have shown an impressive growth year over year.

Key Market TrendsGrowing Demand for Natural and Organic Cosmetics Products

The 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 increase in awareness of products about the benefits of organics products and services, through digital media and other sources, coupled with the advent of social media are adding to the growth in the region. This, in turn, is driving the demand for these products. Consumers in the United States are increasing their consumption of herbal beauty products, particularly skin care and hair care products, due to their ‘vegan’, ‘natural’, ‘organic’, ‘botanical’, and ‘free from’ labels.

United States Holds the Largest Market Share

The consumer's 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. Thus, the rising cases of oral problems are a growing concern in the country, which is estimated to augment the US oral care market. A report published by the American Dental Association, dry mouth, sensitivity, and tooth pain was found to be the most frequent oral problems among the Americans, which majorly boosts the market for oral care prodcuts in the country.

Competitive Landscape

North America Beauty and Personal Care market is a highly fragmented market, with a considerable number of 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 an upper edge to the manufacturers, to expand their range of products across the globe. Moreover, it is crucial for players to continuously innovate, to 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 the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

L'Oreal S.A.
Unilever PLC
Procter & Gamble Co
Estee Lauder Companies Inc.
Beiersdorf AG
Avon Products, Inc.
Revlon, Inc.
Coty Inc.

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