North America skincare product market is expected to reach around USD 4 billion by 2025 and it is projected to grow with a growth rate over 5% during 2018-2025, in terms of value. Growth of the market is driven by a number of factors, including technology advancements, increasing demand of anti-aging products, backed by the growth of geriatric population.
The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that talks about the current nature and future scenario of the above-mentioned market, key market indicators, end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of North America skincare product.
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North America Skincare Product Market: Competitive Dynamics
The North America skincare product market is dominated by a number of players in the market, amongst themthe major players are The Estee Lauder Companies Inc, Colgate-Palmolive Company, Johnson & Johnson, Avon Products Inc, Procter & Gamble Co. and Revlon Inc. Companies in this industry are following different strategies to strengthen their market position. For instance, In Feb 2018, Procter & Gamble Co., has acquired Snowberry, a New Zealand based company of skincare products, which sells products with natural ingredients to fight anti-aging and other skin ailments. This acquisition marks the company’s desire to come up with new line of herbal products which is the on-going trend in skincare market.
North America Skincare Product Market: Research Methodology
Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the North America skincare market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.
North America Skincare Product Market: Scope Of The Report
On the basis of the type of product, the market is segmented into Face creams & Body lotion. Based on the type of Face creams, the market is further divided into Anti-aging products, Skin-Whitening products, Anti-acne products, Sunscreen lotions & some other products. Based on the channel of distribution, the market is categorized into Supermarkets, Hypermarkets & Specialty stores, online channels and other available channels. Finally the report covers the qualitative analysis for market estimates that boosts the growth of the North America skincare product market during the forecast period.
The report also highlights the competitive landscape of the North America skincare product market that includes the company overview, products & offerings, strategic decisions taken by the company, launch of new products and financial highlights.
North America Skincare Product Market: Key Findings Of The Report
According to BlueWeave Consulting, the key findings of the report “North America Skin Care Market Size, Share, Development, Growth and Demand Forecast to 2025” are:
- North America Skin Care Product Market is expected to grow with a CAGR of 4.58% & 4.01% by value and volume respectively, during the forecast period, 2018-2025. Skin care products are witnessing tremendous growth due to factors, including availability of new product formulations via technology innovation, preference for premium and herbal skincare products over their synthetic counterpart
- Face cream market has been the largest revenue contributor to the North America skincare product market as compared to other products. Anti-aging cream is the major demand generator for face cream segment and expected to grow over a CAGR of 4% by value and over a CAGR of 3% by volume during the forecast period, 2018-2025
- North America skincare product market from various distribution channels is estimated to grow over a CAGR of 3% over the period of 2018-2025. Specialty stores is the fastest growing segment within the distribution channels of North America skincare market, owing to demand for premium and organic or herbal skincare products
- In North America, U.S. is the largest skincare product market, followed by Canada and it is expected to reach around USD 30 billion by 2025. U.S. skincare product market is driven by the growth of aged population, coupled with self-grooming trend among the younger population who get inspired by social media
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