The North America skin care products market is expected to grow from US$ 25,156.56 million in 2021 to US$ 43,664.77 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2021 to 2028.
The growing consciousness among consumers regarding their physical appearance fosters the demand for antiaging skin care products. Rising awareness among consumers about age-related skin problems, such as fine lines, wrinkles, and dull skin, coupled with increasing susceptibility to spend on products that help them demonstrate their skin youthfulness, would drive the market growth in the coming years. Antiaging creams and lotions are considered essential for youthful glow and moisturization. Some specially formulated products retain moisture, firmness, and elasticity of facial skin, thus preventing wrinkles and lines. Therefore, the demand for antiaging products is rising. Furthermore, with the growing concerns over animal welfare and the environment, several consumers are choosing cruelty-free products, which has increased the demand for vegan or plant-based ingredient fuse in skin care products. The trend of veganism has penetrated the antiaging products market, with manufacturers launching innovative products under vegan labels. Although the antiaging products have normally been distributed through departmental stores, specialty stores have increased their accessibility by making them widely available. These products are also being sold through online stores, salons, spas, specialty retail shops, and direct response television such as infomercials and home shopping channels. Thus, the growing consumption of antiaging products escalates the market growth in North America.
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With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America skin care products market in the coming years. The market is expected to grow at a good CAGR during the forecast period.
North America Skin Care Products Strategic Insights
Strategic insights for the North America Skin Care Products provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Avon Products
Beiersdorf
Himalaya Wellness Company
Johnson & Johnson Services, Inc.
L’Oréal Groupe
Procter & Gamble
Shiseido Co.,Ltd.
Unilever
VLCC Wellness
North America Skin Care Products Regional Insights
The geographic scope of the North America Skin Care Products refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
North America Skin Care Products Market Segmentation
The North America skin care products market is segmented on the basis of product type, category, end user, distribution channel, and country. Based on product type, the market is segmented into creams & lotions, cleansers, serums, and others. The creams & lotions segment dominated the market in 2020, whereas the market for the serums segment is expected to grow at the fastest pace during the forecast period. Based on category, the North America skin care products market is segmented into organic and conventional. The conventional segment dominated the market in 2020, whereas the market for the organic segment is expected to grow at a faster pace during the forecast period. Based on end user, the North America skin care products market is segmented into men, women, and others. The women segment dominated the market in 2020. However, the market for the men segment is expected to grow at the fastest pace during the forecast period. Based on distribution channel, the North America skin care products market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The specialty stores segment dominated the market in 2020. However, the market for the online retail segment is expected to grow at the fastest pace during the forecast period. Based on country, the North America skin care products market is segmented into the US, Canada, and Mexico.
Avon Products; Beiersdorf; Himalaya Wellness Company; Johnson & Johnson Services, Inc; L’Oréal Groupe; Procter & Gamble; Shiseido Co.,Ltd.; Unilever; and VLCC Wellness are among the leading companies in the North America skin care products market.
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Akshay
Senior Market Research Expert at Business Market Insights
