The makeup market is a flourishing industry across North America. The rising fashion consciousness among consumers has significantly fuelled the North America Makeup Market in the recent past. Frequent changes in fashion trends also have had a remarkable impact on the makeup market in this region. Consumers in the region are now showing keen interest in exploring new and advanced cosmetics and makeup products, due to which the cosmetics manufacturers are introducing more effective beauty products.
The North America makeup market is witnessing a sustainably rising consumers’ loyalty towards makeup products. This is a key factor boosting the growth of the makeup market in the region. Other factors such as product innovations, increase in the demand for organic makeup as well as demand for makeup products utilized in hiding imperfections of aging skin are anticipated fuel demand from the North America makeup market. Apart from this, the increasing trend of financial independency among women has also emerged as one of the strongest factors contributing to the growth of this market in North America.
The ‘natural look’ or the ‘minimal makeup look’ has become the newest trend among urban women, which is limiting the growth of the makeup market in North America to a great extent. Apart from this, the stringent rules and regulations for standardization of cosmetics are also hampering growth of the North America makeup market.
Though the soaring demand for organic makeup is providing manufacturers ample opportunities for business expansion in the region, maintaining the quality may pose a serious challenge for market participants.
Makeup products for nail, eye, face, and lip are the key components of the makeup market in North America. The markets for nail makeup and lip makeup collectively hold the largest share of the overall makeup market in this region and are expected to remain the leading product market segments over the forthcoming years as well. However, the face makeup market is likely to report the fastest growth in the coming years.Hair cosmetics, perfumes, scents, deodorants, and colognes are other components of the North America makeup market. The market for hair cosmetics, particularly, the hair coloring products market accounts for the biggest share among others makeup market segment and is anticipated to maintain its market share in the near future.
The U.S., Mexico, and Canada enjoy the leading positions in the North America makeup market. The market in Canada is driven by the rapid increase in the geriatric population, while rising disposable income has boosted the makeup market in Mexico.The U.S. market for makeup faces severe challenge from the stringent regulations put up by the FDA for approval of cosmetics, however, it has maintained an impressive growth rate owing to the region’s large population base.
L’Oreal, Estee Lauder Cosmetics, Procter and Gamble, Chanel, Johnson & Johnson, Louis Vuitton Moet Hennessy, Unilever, and Avon Products Inc. are the major players operating in the North America makeup market. Among these key players, L’Oreal leads this regional market with four flagship brands, namely L’Oreal Paris, Maybelline, Essie, and Lancôme.
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