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.
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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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