The North America Skin Care Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 2,960.3 million units, showcasing a growth of 5.9% (2019-2022).
Skin care products are used extensively by the population for maintaining and improving the appearance of the face and other body parts. The main consumers of these products are females; however, it is also gaining attraction among males due to changing lifestyles. The products include face packs, creams, moisturizers, lotions, and conditioners. These products help condition the skin, protecting the skin from environmental dust, oil & pollution, and clean makeup and soils. Additionally, these products help maintain skin texture, preventing early aging, pimples, black patches, and other skin issues.
Generally, these products perform moisturizing, cleansing, and conditioning functions. The products contain fragrances and colorants and applying them gives a pleasant feel. The integrity and shelf life of the products are maintained by adding ingredients such as viscosity control agents and thickening agents. The key factors driving this product growth are changing lifestyles in emerging economies and growing product demand. Additionally, increasing awareness towards skin care with the emergence of new and innovative skin care products is also one of the factors contributing to the growth of these products. There has been a prominent rise in adopting organic and herbal-based products in the personal care industry. People are moving towards using herbal products, for example, herbal medicines, natural food, and herbal skin care products.
Higher disposable income allows consumers to indulge in premium and luxury skincare products in the US. Disposable income expansion increases spending on beauty services, including professional skincare treatments and spa services in the US. According to the Bureau of Economic Analysis (BEA) of the US, in June 2023, personal consumption expenditures (PCE) climbed by $100.4 billion (0.5%), while disposable personal income (DPI), or personal income less personal current taxes, increased by $67.5 billion (0.3%). In June, personal savings totalled $862.4 billion, with a saving rate of 4.3 percent of disposable personal income. Due to the above-mentioned factors, the market will grow significantly in this region.
The US market dominated the North America Skin Care Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $47,009.7 Million by 2030. The Canada market is exhibiting a CAGR of 8.1% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 7.1% during (2023 - 2030).
Based on Gender, the market is segmented into Female, and Male. Based on Packaging, the market is segmented into Tubes, Bottles & Jars, and Others. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Product Type, the market is segmented into Creams & Moisturizers, Cleansers & Face Wash, Powder, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Skin Care Market is Predict to reach $244.8 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Colgate Palmolive Company, The Procter & Gamble Company (P&G), Johnson & Johnson, Unilever PLC, The Estee Lauder Companies, Inc., Shiseido Company Limited, Kao Corporation, Avon Products, Inc. (Natura & Co Holding SA), Revlon, Inc. (MacAndrews & Forbes), L'Oréal S.A.
By Gender (Volume, Million Units, USD Billion, 2019 to 2030)
By Packaging (Volume, Million Units, USD Billion, 2019 to 2030)
By Distribution Channel (Volume, Million Units, USD Billion, 2019 to 2030)
By Product Type (Volume, Million Units, USD Billion, 2019 to 2030)
By Country (Volume, Million Units, USD Billion, 2019 to 2030)
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