North America Skincare Market Size, Share & Industry Analysis, By Product (Creams, Lotions, Powders, Sprays, and Others), Packaging Type (Tube, Bottle, Jar, and Others), Gender (Men and Women), Distribution Channel (Cosmetic Stores, Supermarkets/ Hypermarkets, Online Channels, and Others), and Country Level Forecasts, 2023 - 2030

North America is the second largest region in the global skincare market. North America skincare market size is projected to grow at a growth rate of 6.9% during the forecast period. The global market share for skin care is projected to grow from USD 104.24 billion in 2022 to USD 167.22 billion by 2030.

Beauty products are crucial in maintaining consumers' daily personal hygiene routines. The increasing standard of living and growing need for skin-nourishing products among U.S. and Canadian consumers will drive the growth of the North American beauty products market. Moreover, the influence of social media on the young population to use the latest and trendy beauty products, such as sun care creams, vitamin C serums, face brightening lotions, etc., will accelerate the demand for such products during 2023-2030. For instance, in June 2022, Hailey Bieber, an American model, launched the YouTube video ‘detailingeachproduct,’ to promote kylie cosmetics’ beauty products in the U.S.

The U.S. exhibited a leading North American skincare market share in 2022. Our North American skincare market report covers the following countries/regions: The U.S., Canada, and Mexico.

LATEST TRENDS

The growing Popularity of Functional Skin Nourishment Products has Become a Prominent Trend 

Nowadays, millennials and generation Z consumers prefer products that address their special skin concerns such as skin ageing, acne, eczemas & dermatitis, etc. Increasing consumer demand for functional beauty products in the U.S. and Canada will offer newer market growth opportunities. Furthermore, the manufacturer’s focus on offering such innovative products will support product demand in the North American region.

• As per a survey conducted by over 260 women based in different countries such as the United States, Canada, China, Australia, the U.K., and South Korea, by MDPI open source publisher, in May 2022, 45.4% said they use special anti-ageing skin treatment products to firm their face, 56.2% for eye anti-wrinkle application and 58.8% for face anti-wrinkle purposes regularly.


• In July 2020, Marianna Naturals Corp., a North American beauty products company, launched three functional mushroom beauty products in the Canadian market. These products are unisex skin serum, eye cream, and facial scrub made of mushroom and rooibos leaf extracts.

DRIVING FACTORS

Rising Demand for Eco-friendly Products to Drive Market Growth

Organic facial sheets and masks are becoming increasingly popular among the U.S. and Canadian consumers, as these products are easy to apply on the face and can be effectively disposed of. Increasing U.S. and Canadian consumer demand for eco-friendly cosmetic products made of plant-based ingredients and botanical extracts is accelerating the North American market growth. Furthermore, manufacturers' provision of natural skin care products to support the consumers' ethical shopping favours the region's product revenues.

• For instance, Sorawave, a U.S.-based beauty brand, launched a new face mask made of vegan and biodegradable ingredients in the U.S. These masks are highly effective in nourishing and hydrating users' skin.   


• As per data from the International Trade Administration (ITA), in 2021, organic and ethically sourced products accounted for around 40% of the Canadian beauty industry.

RESTRAINING FACTORS

Higher Cost of Organic Skin Nourishment Products to Limit Market Growth

Uncertainty in the prices of raw material supplies required to produce personal care products in America challenges U.S.-based companies in managing their manufacturing costs. In addition, higher production costs and the requirement for higher R&D investments in producing organic cosmetic products are impacting the key companies’ financial position. Besides, shifting middle-income Canadian and U.S. consumer demand for economically priced skin treatment-related products is restraining the North American skincare market growth.

KEY INDUSTRY PLAYERS

The prominent companies operating in the North America skincare market share is Coty Inc., L'Oréal S.A., The Estée Lauder Companies, Inc., and The Procter & Gamble Co. These players are implementing sustainable business practices to deliver eco-friendly products to their customers, which thereby helps in reducing global synthetic products consumption in the longer run. For instance, in 2021, Unilever announced its Climate Transition Action Plan to achieve zero greenhouse gas emissions through its products by 2030.  Furthermore, these organizations participate in international shows and events to conduct customer engagement programs and increase their customer base. For instance, in November 2021, L'Oréal attended the 26^th annual conference of the International Federation of Cosmetic Chemists (IFSCC) to display their latest developments of innovative beauty and haircare products.

LIST OF KEY COMPANIES PROFILED:

• L’Oréal S.A. (France)


• Unilever Plc. (U.K.)


• The Procter & Gamble Co. (U.S.)


• Shiseido Co., Ltd. (Japan)


• Coty Inc. (U.S.)


• Beiersdorf AG (Germany)


• Galderma S.A. (Switzerland)


• Kao Corporation (Japan)


• Laboratoires Pierre Fabre (France)


• Johnson & Johnson Services, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2022: L'Oréal S.A. acquired Skinbetter Science, an American medical skin treatment brand, to expand its product portfolio regarding skin beauty solutions and make its products medically tested and approved in an American market.


• November 2021: OLAY North America, a Procter & Gamble Company-owned brand, launched the Easy Open Lid, a limited edition prototype designed for people with disabilities. 


• June 2021: Coty Inc. relaunched its Kylie beauty products made of plant-based and clean ingredients in combination with sustainable packaging solutions.

REPORT COVERAGE

The North American skincare market research report provides qualitative and quantitative insights into the market and a detailed analysis of the North American market sizing & growth rates for all possible segments in the market. The research report elaborates on the market dynamics, competitive landscape, and the North American skincare market forecast. Various key insights presented in the report are overview of the cosmetic stores, pharmacies, and other distribution channels, an overview of price analysis of various beauty products’ types, an overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships and, the impact of COVID-19 on the market.

Report Scope & Segmentation