North America Cosmetic Market Industry Trends, Growth, Analysis, Size, Share and Forecast 2025
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Key companies getting affected in the market include Beiersdorf AG, Chanel S.A., Coty Inc., Estee Lauder Companies Inc., Henkel AG & Company, KGaA, Johnson & Johnson, Kao Corp, L Brands, Inc., and L'Oreal SA and many more.
However, with the outbreak of COVID-19 since January 2019, the market of North America cosmetic products has shown some discouraging results in the growth rate. By the end of March 2020, the number of infected people from virus crossed 100,000 alone in the US. Due to this, various lockdowns were witnessed in the country. A number of cosmetic stores had to shut down their store at multiple locations. Makeup-try on facilities that were being canceled by the companies is costing them a huge amount of loss in sales. Additionally, many fashion related events that generate revenue and customer base for the cosmetic companies were being canceled in North America which is leading to a sudden decrease in the company's revenue of first-quarter sales of 2020. The canceled beauty trade shows list includes Cosmoprof, LuxePack, PCHi and many more.
A full report of Global North America Cosmetic Market is available at: https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-north-america-cosmetic-industry
North America's cosmetic industry report is segmented based on product type into skincare, haircare, make-up, toiletries & perfumes, and oral cosmetics. Almost all the segments of the cosmetic industry have experienced a downfall in sales during the outbreak due to the closing of offline stores at various locations. In the US, the lockdown situation can go on for a long period of time as per the government guidelines. Most of the companies also had to cut down the workforce or had to send their employee for work from home leading to a decline in production rate.
Verticals Affected Most
o Skin Care
o Hair Care
o Toiletries & Perfumes
o Oral Cosmetics
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