Beauty, Cosmetics & Fragrance Stores in Canada - Market Research Report (2014-2029)

That glow: The proliferation of naturally derived and cruelty-free products will spur growth in new markets

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Canada's beauty, cosmetic and fragrance stores have benefited from rising incomes and unprecedented population growth in recent years. But the sudden impact of COVID-19 sent shockwaves through beauty stores. A slowdown in sales and widespread store closures left retailers to navigate an unprecedented operating environment, although a spike in e-commerce beauty sales coupled with emerging trends mitigated lower in-person sales. Retailers found relief in 2021 as fading pandemic concerns contributed to a strong comeback online and in-store. Now, economic pressures risk consumer spending in discretionary sectors. Still, worries about a beauty spending slowdown haven't come to fruition in 2023, with beauty retailers displaying more resiliency than expected. In all, industry-wide revenue has been expanding at a CAGR of 1.3% over the past five years - totaling an estimated $1.1 billion in 2023 - when revenue will jump an expected 1.4%.

Companies in the Beauty, Cosmetics and Fragrance Stores industry in Canada sell a variety of personal care products, including cosmetics, perfume, hair care, skincare and related items. This industry’s target market includes household and professional users, including hair stylists and makeup artists.