North America Beauty and Personal Care Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

North America Beauty and Personal Care Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

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 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.

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 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 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.

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 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.

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.

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