North America Premium Cosmetics Market By Product (Skincare, Makeup, Hair care, Fragrance, and Other Premium Cosmetics) By Distribution Channel (Offline and Online) By Country, Industry Analysis and Forecast, 2019 - 2025
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The North America Premium Cosmetics Market would witness market growth of 7% CAGR during the forecast period (2019-2025). In recent years, the Premium Cosmetic and Beauty Product Manufacturing industry in Canada experienced strong growth in the production of widely accepted and necessary personal care products such as shampoos and lotions. Revenue growth has been determined by supply from wholesalers and distributors, eventually motivated by consumer spending, tastes, and choices. In the past few years, increasing rates of disposable income have urged customers to actively buy high-end luxury goods from the industry. As a result, market revenue is estimated to rise exponentially over the forecast period.
The increased awareness of premium ingredients and their significant impact on the skin is changing consumer preference from conventional or mass-produced cosmetics to premium cosmetics. The preference for premium cosmetics for concerns like acne, age spots, and pigmentation is anticipated to work well for market growth.
The accelerated demand for anti-aging products and long-lasting makeup promotes the growth of the premium cosmetics market. Increased consumer preference for mini-sized cosmetic products is also bolstering demand. Growing demand for men's cosmetics is also serving as one of the main drivers of growth on the market. Increased product diversification, such as gender-neutral and men's luxury cosmetics, is also gaining more popularity. Growth in the men's grooming industry is also boosting demand for men's premium cosmetics. This trend is also expected to create growth opportunities for brands that primarily produce men's cosmetics.
Based on Product, the market is segmented into Skincare, Makeup, Hair care, Fragrance, and Other Premium Cosmetics. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L'Oreal Group, Kao Corporation, Shiseido Company, Limited, Estee Lauder Companies, Inc., LVMH SE (Christian Dior), Revlon, Inc. (MacAndrews & Forbes), The Procter and Gamble Company, Coty, Inc. (JAB Cosmetics B.V.), Ralph Lauren Corporation, and Chanel S.A.
Scope of the Premium Cosmetics Market Analysis
- Hair care
- Other Premium Cosmetics
By Distribution Channel
- Rest of North America
- L'Oreal Group
- Kao Corporation
- Shiseido Company, Limited
- Estee Lauder Companies, Inc.
- LVMH SE (Christian Dior)
- Revlon, Inc. (MacAndrews & Forbes)
- The Procter and Gamble Company
- Coty, Inc. (JAB Cosmetics B.V.)
- Ralph Lauren Corporation
- Chanel S.A.
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