North America Beauty And Personal Care Products - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The North America Beauty And Personal Care Products Market size is estimated at USD 124.53 billion in 2024, and is expected to reach USD 151.19 billion by 2029, growing at a CAGR of 3.95% during the forecast period (2024-2029).

High disposable income and increasing focus on personal grooming are the major factors driving the demand for beauty and personal care products in North America. Moreover, the growing prevalence of skin issues and the busy lifestyles of consumers are boosting the demand for multi-functional products that help reduce symptoms such as wrinkles and acne. Besides this, brands focus on ambassador marketing and improving relations with macro- and micro-influencers to build equity.

In addition, celebrities and influential personalities in the entertainment industry are launching their product lines, relying on their large fan bases and social media followers. For instance, in July 2022, Selena Gomez's beauty line, Rare Beauty, introduced two new lip products: the Kind Words Matte Lipsticks and Liners. Furthermore, the wide assortment of products available on online platforms and consumers’ emphasis on saving time are impelling the demand for beauty and personal products through online retail channels. Due to improved security features for online payments, customer-friendly services, user-friendly shopping websites, and straightforward delivery, online beauty and personal care shopping portal usage is anticipated to increase significantly in the region during the forecast period.

North America Beauty and Personal Care Products Market Trends

Demand for Natural and Organic Skincare Products

Consumers nowadays prefer to make informed product choices based on their skin type and preferences. Rising pollution levels in urban cities, rapid climatic changes, stressful lifestyles, and unhealthy eating patterns can elevate the risk of skin sensitivity and allergies. Thus, due to the increased focus on personal grooming, there is a rise in the demand for beauty and personal care products with multi-functional advantages. Therefore, manufacturers are introducing a wide range of skincare products to capitalize on growing consumer interest in functional skincare. For instance, in September 2022, the clinically-proven, dermatologist-recommended clean skincare brand DERMA E was launched at Walmart, stocking ten products. The range included clinically validated Vitamin C, Hydrating, and Anti-wrinkle formulations. The products offered by the brand were 100% vegan and cruelty-free. Such product launches with claims to improve skin concerns supported and promoted by rising customer awareness regarding smart skincare are anticipated to capture significant market attention during the forecast period.

The United States Holds the Largest Market Share

Increased focus on personal grooming habits, high per capita income levels, and the popularity of smart and effective skincare are some major factors contributing to the demand for beauty and personal care products in the United States. Moreover, key players are adopting aggressive marketing strategies to improve their brand presence and visibility. They are also expanding their expenditure on digital advertising by collaborating with celebrities and social media influencers to reach a broader consumer base. For instance, in 2022, L'Oréal spent EUR 12 billion on advertising and promotions worldwide, an increase from EUR 10.59 billion in 2021.

At the same time, L'Oreal invested USD 3.04 billion in advertising in the United States. In addition, brands are shifting to sustainability by utilizing natural ingredients and sustainable packaging to retain their position in the market. For instance, in May 2023, Head & Shoulders expanded its product portfolio by launching BARE H&S’s first-ever nine-ingredient anti-dandruff shampoo in the United States. According to the company claim, this new anti-dandruff formula is free from sulfates, silicones, and dyes, with a recyclable bottle that contains 45% less plastic.

North America Beauty and Personal Care Products Industry Overview

The North American beauty and personal care market is highly fragmented due to the presence of several regional and global players. Key players focus on product development and innovation to meet consumers' needs. They also rely on mergers and acquisitions, geographical expansions, and partnerships to establish a broader consumer base and remain competitive. Further, companies are investing in digital and social media advertisements to expand the online presence of their brands. Some major players in the North American beauty and personal care products market are L'Oréal SA, Unilever PLC, Procter & Gamble Company, Coty Inc., and Estée Lauder Companies Inc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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