Report ID: UCMIR30L2147
Report ID:
UCMIR30L2147 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
North America ranks as the second-largest region within the global skincare industry, and its market is expected to experience a 6.9% growth rate in the coming years. Projections indicate that the worldwide skincare market, valued at USD 104.24 billion in 2022, is poised to expand to USD 167.22 billion by 2030. The demand for beauty products in North America is largely driven by an increasing standard of living and a growing desire for skin-enhancing products among consumers in the United States and Canada. Additionally, the influence of social media on the younger demographic's preference for trendy skincare items, including sun care creams, vitamin C serums, and brightening lotions, is expected to boost demand in the 2023-2030 period.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Personal Products by segment aggregation, the contribution of the Personal Products in Household & Personal Products and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIR30L2147