North America Makeup Market Size, Share & COVID-19 Impact Analysis, By Product (Gels, Lotions, Powders, and Others), By Application Area (Lips, Eyes, Face, and Nails), By Distribution Channel (Exclusive Brand stores, Supermarkets & Hypermarkets, Online Stores, and Others) and Regional Forecast, 2023-2030

North America region exhibited the second largest global market in 2022. It is projected to grow at a CAGR of 5.8% during the forecast period of 2023-2030. The North America makeup market size is projected to grow from USD 9.13 billion in 2022 to USD 14.34 billion by 2030.

Beauty products play a crucial role in glorifying an individual’s facial skin. Depending upon the type, these products are usually made of synthetic, naturally sourced, or a blend of these materials. The growing adoption of skincare and beauty enhancer products is mainly uplifting the North America makeup market growth.

• According to the annual report of L’Oréal S.A in 2021, the sales growth in North America increased by 25.03%, which is the third largest market for the company after North Asia and Europe.

North American market research report covers the following countries/regions - U.S., Canada, and Mexico.

LATEST TRENDS

Increasing Adoption of Sustainable & Chemical-Free Beauty Products to Favor Growth

Foundations, concealers, primers, and other products might include intoxicated chemicals like formaldehyde, methylene glycol, mercury, and others that can damage an individual’s skin when used very frequently. These products can cause severe skin problems when applied to the skin surfaces. Nowadays, key players prefer using naturally-sourced multivitamins and skin-positive ingredients while producing color cosmetics to offer a sustainable grooming solution to their consumers. Using sustainable ingredients and chemical-free products will positively affect the segment's market share.

• For instance, in August 2020, Honasa Consumer Ltd, mama earth’s subsidiary brand, launched a range of makeup products packaging made of sustainable vitamin C ingredients that exhibit chemical-free skin-treating properties.

DRIVING FACTORS

Key Players’ Provision of Innovative Products to Drive The Growth

Another critical factor driving the market size is the increasing demand for innovative foundation and lipstick products in the region. North Americans are increasingly inclined toward trying newer, innovative products that reduce their effort and time getting ready with a facial grooming style. Evolving personal grooming trend is driving the North American market growth.

• For instance, Chromavis Fareva (an American company), under the brand Snowglobe, launched a lip product in stick format with the novel patented rigid form that amalgamates liquid and solid textures in a transparent ball that can include three types of the liquid core. Product multitasking and decreasing the use of three different products separately.

RESTRAINING FACTORS

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Rise In the Inflation To Limit The Market Growth 

The rising inflation in American economies results in increased taxes on goods and services, including beauty products and beauty services. The price of cosmetic goods will increase gradually as per the changes in the taxation pattern and policies due to inflation in the North American region. The inflation will negatively impact the region’s color cosmetic industry, limiting the product demand and limiting the market growth.

KEY INDUSTRY PLAYERS

Regarding the competitive landscape, Beiersdorf AG, KOSÉ Corporation, and Procter & Gamble Co. are the key players operating in the North America makeup market share. These players focus on offering innovative products and are actively involved in conducting R&D activities to accelerate their product launches and approvals in the forecast period 2023-2030. Other prominent players such as The Estée Lauder Companies Inc., L’Oréal S.A, LVMH, and Shiseido Co. Ltd. are also leading players due to their strong distribution network and diverse aesthetic indications for their product portfolio, including premium concealer and foundation brands.

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.)


• KOSÉ Corporation (Tokyo)


• Kao Corporation (Japan)


• Anastasia Beverly Hills (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2022: The Estée Lauder Companies Inc. launched a product segment for the luxury subsidiary brand Balmain as Balmain beauty introduced premium luxury makeup range.


• November 2020: The Estée Lauder Companies Inc. acquired luxury brand TOM FORD with a makeup portfolio to produce innovative products by 2024.

REPORT COVERAGE

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The market research report provides qualitative and quantitative insights into the market and a detailed analysis of the North America market size & growth rate for all possible segments in the market. The research report elaborates on the market dynamics, competitive landscape, and the North America market summarized forecast. Various critical insights presented in the report are the overview of the number of procedures, a summary of price analysis of types of products, 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 industry.

Report Scope & Segmentation