The beauty market in North America is divided into three categories: product type, category, and distribution channel. Facial care, lip care and body care are among the product types segmented. The beauty market is divided into two categories: premium skincare products and mass skincare products. Distribution channels include speciality retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, and others.
During the forecast period 2019-2028, the North American beauty market is expected to grow at a CAGR of 1.24 per cent. The e-commerce sector is benefiting from rising internet penetration and smartphone users, which is driving up online sales of beauty and personal care products in the region. The growth of the North American beauty market is examined in the United States and Canada. In the United States, direct-to-consumer brands have entered the Omni channel retailing space, disrupting the beauty market. Disruptive men’s grooming brands like Harry’s and Dollar Shave Club are expanding into brick-and-mortar stores as well as bath and shower products, oral care products, deodorants and other items. In 2019 Flamingo, Harry’s sister brand began selling in Target stores. The growing popularity of beauty and personal care products on the internet have resulted in significant digital investment. Modiface was purchased by the L’Oreal Group in 20018. It introduced L’Oréal’s Style My Hair mobile app, which aided L’Oréal’s entry into the augmented reality beauty market. As a result of these factors, ample beauty market growth opportunities are expected. Given increased consumer awareness of product ingredient choices, health and wellness trends have gained traction in the United States. Due to health concerns, they are looking for alternatives to products that contain sulphates, parabens, phthalates, talc, and other chemicals. As a result of these factors, beauty brands have increased their supplement and vitamin offerings.
Increased demand for natural and organic cosmetics.
Natural and organic cosmetics are gaining a lot of traction in this region, thanks to rising awareness and a growing beauty market for luxury personal care brands. Consumer knowledge and awareness of the benefits of organic products and services gained through digital media and other sources as well as the advent of social media are all contributing to the region’s growth. As a result of which demand for these products is increasing. Because of the ‘vegan,’ ‘natural,’ ‘organic,’ ‘botanical,’ and ‘free from’ labels, consumers in the United States are increasing their consumption of herbal beauty products, particularly skincare and hair care products.
During the forecast period, the North American Beauty Market is expected to grow at a CAGR of 2%. (2019-2024)
Consumers in the region are adopting holistic approaches to beauty and health care rather than treating each as a separate segment for care, which has increased demand for the multifunctional beauty market.
Many brands are taking advantage of the region’s opportunities for colour cosmetics innovation and expansion. The fastest-growing segments in this region are skincare and hair care.
The beauty market is growing rapidly irrespective of the place, either it is rural or urban but most people agree that the beauty market is more inclined towards females as compared to males.
