The North America Night Creams Market would witness market growth of 5.1% CAGR during the forecast period (2023-2029).
Night creams are a form of cosmetic containing a high concentration of moisturizing ingredients. These are primarily employed as moisturizers, skin lighteners, and anti-aging creams. Products made from night cream are mostly used as skin whitening agents, skin toners, and moisturizers. Additionally, those seeking many skin care benefits are the end customers who use night cream products.
The market is seeing a surge in demand for beauty products with many uses, so businesses in this sector are concentrating on mixing several substances into a single product to broaden the product's use. The makers are also concentrating on cutting-edge product packaging to make skin care products more usable. Numerous product options with integrated personal care characteristics present the profitable market potential for enterprises in the market.
Customers in the region, mostly from the US and Canada, are more prone to look for items like wrinkle-smoothing creams, which slows product launch. In the United States, there were 54.1 million people 65 and over as of 2019. More than one in seven Americans made up 16% of the population, represented. Since 2009, there have been 14.4 million more elderly Americans than there were in 2009 (a 36 percent rise), vs a 3% increase in the population under 65. The aging population's strong need for skin care products to shield their skin from the signs of aging will likely lead to an increase in the market in the North American region.
The US market dominated the North America Night Creams Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,963 Million by 2029. The Canada market is poised to grow at a CAGR of 7.4% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 6.5% during (2023 - 2029).
Based on Distribution Channel, the market is segmented into Convenience Stores, Supermarkets/Hypermarkets, Retail Pharmacies and Ecommerce. Based on Product Type, the market is segmented into Moisturizing, Anti-aging and Skin Whitening. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Night Creams Market is Projected to reach USD 12.7 Billion by 2029, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Beiersdorf AG, The Estee Lauder Companies, Inc., L'Oreal S.A., The Procter and Gamble Company (Olay), Shiseido Company Limited, Unilever PLC, Johnson & Johnson (Johnson & Johnson Services, Inc.), Derma E (Topix Pharmaceuticals, Inc.), Himalaya Wellness Company (Himalaya Global Holdings Ltd.) and Guerlain SA.
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