North America Beauty And Personal Care Market 2022-2028
MARKET OUTLOOK
According to Triton Market Research’s report, the beauty and personal care market in North America is anticipated to advance with a CAGR of 2.96% in the estimated period between 2022 and 2028. The United States and Canada are analyzed in the market in this region.
In 2019, companies in the beauty and personal care space in Canada launched products that addressed the current trends. The launch of the Love, Beauty and Planet brand by Unilever spoke to younger consumers with an affinity for authentic, sustainable, and natural brands with vegan-friendly haircare and bath & body products.
In color cosmetics, Mac collaborated with social media make-up artist & beauty influencer Patrick Starr, launching a series of Mac x Patrick Starr cosmetic kits. The launch signified the reach of social media stars to consumers, and demonstrated how brands could leverage influencers’ popularity to develop compelling products.
The growing online presence of beauty and personal care brands has resulted in significant digital investment by market players. For instance, L’Oréal Groupe acquired Modiface, and launched L’Oréal’s Style My Hair mobile app. This helped the beauty care giant expand further into augmented reality beauty.
Further, Lush continues to test Lush Lens. It is a mobile app that uses artificial intelligence and product recognition to allow customers to scan a product with no packaging to access information, given the brand’s push against packaging as a move towards environment friendliness. Besides, the company is also experimenting with 3D printing technology for producing bath bombs.
COMPETITIVE OUTLOOK
Procter & Gamble Co, Natura & Co, Arabian Oud Co, Amorepacific Corp, Henkel AG & Co KGaA, LVMH Moët Hennessy Louis Vuitton SA, Estée Lauder Cos, and Shiseido Co Ltd are some of the noteworthy players in the beauty and personal care market.
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