The growth of the cosmeceuticals market is majorly attributable to the rising consumer interest in natural and nutrition-rich products for health and beauty concerns. The aging population, increasing consumer spending, and beauty consciousness are other factors supporting the sales. It has been observed that the demand is high among people aged 30-45. Over the past decades, the decreasing mortality rate has increased the aging population all over North America. People living longer and wanting to retain their youthful appearance positively affect the market growth. Thus, the rising demand for anti-aging products to prevent hair damage, age spots, uneven skin tone, dry skin, and wrinkles is rising, which, in turn, will create opportunities for new introductions and innovations in the cosmetic industry.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America cosmeceuticals market. The North America cosmeceuticals market is expected to grow at a good CAGR during the forecast period.
North America cosmeceuticals market is segmented into active ingredient, distribution channel, product, and country. By active ingredient, the cosmeceuticals market is segmented into antioxidants, peptides and proteins, exfoliants, retinoids, botanicals, and others. The antioxidants segment held the largest market share in 2021. The North America cosmeceuticals market, based on distribution channel, is segmented into supermarket/hypermarket, online retail stores, convenience stores, specialist stores, and other distribution channels. In 2021, the supermarket/hypermarket segment held the largest share of the market. The cosmeceuticals market, by product, is segmented into skin care, hair care, oral care, and others. The skin care segment held the largest share of the market in 2021. Based on country, the North America cosmeceuticals market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2020.
Allergan, Amway Corp., Avon Products Inc., BASF SE, Beiersdorf Global, Croda International Plc, Johnson & Johnson, L'Oreal, Procter & Gamble, and Unilever plc are among the leading companies in the North America cosmeceuticals market.