The cosmetic products are widely used by consumers in North America to enhance the appearance or odor of their bodies. The region is one of the major markets for the cosmetic industry due to high awareness related to their appearance, presence of most of the global players and the high disposable income of the people. Additionally, recent trends to use natural ingredients in cosmetic products observed among manufacturers have also contributed significantly to the North American cosmetic industry growth. Moreover, considering the new orientation of social media, cosmetic companies are using platforms such as Instagram and YouTube to reach more audiences by showcasing their product using influencing people.

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.

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. 

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. Cosmetic companies such as Ulta Beauty are shutting their retail stores until at least March 2020. For instance, Ulta Beauty closed 1,254 of its retail stores until 31st March 2020. Additionally, the renowned cosmetic brands such as Christian Dior, Givenchy, and Louis Vuitton are making effort to fight against the downfall of COVID-19 by scaling down production on its fragrance line and its perfume factories. Instead, the brands are now switching to the production of bottles of anti-bacterial gel.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the North American Cosmetic Industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the North American cosmetic Industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American cosmetic Industry.
• Insights about market determinants which are stimulating the North American cosmetic Industry.
• Extensive profiles and recent developments of market players.