North America Cosmetics Market Size, Share & COVID-19 Impact Analysis, By Category (Hair Care, Skin Care, Makeup, and Others), By Gender (Men and Women), By Distribution Channel (Specialty Stores, Hypermarkets/Supermarkets, Online Channels, and Others), and Regional Forecasts, 2023-2030

North America is the third largest region in the global cosmetics market. It is projected to record a CAGR of 3.8% during the forecast period. The global market is projected to grow from USD 299.77 billion in 2022 to USD 417.24 billion by 2030.

The growing adoption of cosmetics has prompted key regional market players to increase their R&D investments for introducing new products. Citing an instance, in October 2022, L'Oréal U.S.A. invested USD 140 million in a new research and innovation center of about 250,000 square-foot in Newark, New Jersey. The new center in Clark will focus on beauty innovations across the hair, skin, and makeup categories, while conducting research on strategic fields such as green science and beauty tech to accelerate the creation and development of new cosmetics. The R&I center is expected to be fully operational by 2024.

This report on the North America cosmetics market covers the following countries/regions – the U.S., Canada, and Mexico.

LATEST TRENDS

Wider Adoption of Cosmetics among Male Population to Offer New Market Growth Opportunities

The recent industry trends show an emerging interest in cosmetics across nearly all demographic groups. A broader percentage of men are becoming aware of the negative impacts of aging on their skin and overall appearance. With unprecedented access to social media and other sources, more men in the North American region are buying anti-aging products to reverse the effect of early aging. The benefits of organic cosmetics make them highly popular among men, which will create new opportunities for market players in the coming years. In addition, brands, such as Jack Henry, Brickell, Asystem, and Jaxon Lane, are focusing on offering products to cater to men’s skincare needs.

DRIVING FACTORS

Greater Focus on R&D by Key Market Players to Accelerate Market Growth

Another critical factor driving the North America cosmetics market growth is the increased emphasis by leading market players on R&D to support and accelerate the development of new products. A wide range of product offerings from manufacturers that provide varied product forms, such as lotions, creams, and gels, suitable for an individual’s skin & hair, is expected to augment the market growth. The adoption of these products has increased tremendously among men and women, further contributing to the market expansion.

• For instance, in March 2020, Mychelle Dermaceuticals, from French Transit Ltd., a U.S.-based beauty & personal care company, launched a new skincare line of CBD-infused cosmetics to offer positive skincare solutions to consumers.


• There is an increasing adoption of skincare products among people with skin problems in the region. Several skin care products are being developed to quicken the skin's healing process while eliminating scars and rashes on the skin's surface.

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RESTRAINING FACTORS

High Cost and Relative Side Effects to Limit the Market Growth 

Despite their growing popularity and adoption, the adverse effects of chemical/synthetic cosmetic product formulations can hamper their demand to some extent. Cosmetics are a mixture of natural and synthetic ingredients, such as sulfates, parabens, SLS, and phthalates. Prolonged exposure to such harmful cosmetics results in the continuous deposition of toxic ingredients in the skin’s cells that can eventually cause adverse effects. For instance, excessive use of certain cosmetics and hair coloring products can result in rashes or patches on the skin and permanent hair greying. Fragrance, coloring pigments, and preservatives added in the products to enhance their quality often lead to allergic reactions, which can hinder the market.

KEY INDUSTRY PLAYERS

Regarding the competitive landscape, L’Oréal S.A., The Estée Lauder Companies Inc., and Johnson & Johnson, Inc. are the key players that have held a leading North America cosmetics market share due to their diversified product offerings, active involvement in R&D investments to accelerate the process of product launches and approvals during the forecast period.

Other prominent players, such as Unilever, Procter & Gamble Co., and Coty Inc., are also leading the market due to their robust distribution network and diverse product portfolios. Other significant players are Beiersdorf AG, Kao Corporation, and Shiseido Co., Ltd. These companies are focused on strengthening their product portfolios and distribution networks through strategic collaborations and partnerships to increase their market share.

LIST OF KEY COMPANIES PROFILED:

• L'Oréal S.A. (France)


• Unilever plc (U.K.)


• The Procter & Gamble Company (U.S.)


• The Estée Lauder Companies Inc. (U.S.)


• Beiersdorf AG (Germany)


• Shiseido Co., Ltd. (Japan)


• Coty Inc. (U.S.)


• Kao Corporation (Japan)


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


• Amorepacific Corporation (South Korea)

KEY INDUSTRY DEVELOPMENTS:

• February 2023: Sephora Canada rolled out DTC beauty brand Glossier’s products. The Glossier range includes makeup, skincare, and fragrance available online on Sephora.ca & the Sephora App, and offline channels. Glossier also opened its 7,000 sq. ft. flagship store in Manhattan in SoHo’s Spring Street, New York.


• September 2022: The Estée Lauder Companies Inc. and BALMAIN Paris partnered to develop, produce, and distribute an innovative luxury and couture beauty line of products under ‘Balmain Beauty,’ which is anticipated to launch in 2024.


• June 2022: Beauty and cosmetics company Avon, owned by Nature & Co. Group, launched its e-commerce platform for the Mexican market.

REPORT COVERAGE

The market report provides qualitative and quantitative insights into the market and a detailed analysis of the regional market size & growth rate for all possible segments in the industry. The research report elaborates on the latest market trends & dynamics, competitive landscape, and forecast. Various key insights are presented in the report including an overview of the regulatory scenario in key countries, new product launches, top industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.

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Report Scope and Segmentation