Market Size of Canada Cosmetic Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.45 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cosmetic in Canada Market Analysis
The Canada cosmetic product market is projected to register a CAGR of 6.45% during the forecast period.
- Over the long term, with the rising awareness about the benefits of natural ingredients, the popularity of natural cosmetics is expected to accelerate. This coupled with the steady rise in the purchase of premium functional products in the country over the years, is expected to aid the market's recovery over the forecast period.
- Moreover, the increasing demand for natural or organic, no animal tested, and cruelty-free cosmetic products and innovative and eco-friendly packaging designs is expected to enhance the market further in the country. In addition, social media and e-commerce channels have significantly increased the popularity and availability of cosmetics and skincare segments, driving the industry's growth.
- The country witnessed a significant increase in household expenditure, the inclination of people toward spending on appearance, and an increasing settlement of the ex-pat population in the country.
- For instance, according to StatCan, Canada's average annual household expenditure on makeup, skin care, and manicure products amounted to USD 188.8 in 2021. In 2021, the manufacturers focused more on innovative packaging of products as men and women were attracted to the design and exclusive product packaging. Also, there is a rise in the utilization of cosmetics among men in their daily regime. This is expected to further boost Canada's cosmetics products market in the forecast period.
Cosmetic in Canada Industry Segmentation
Cosmetics include any substance used to enhance, improve, or change the appearance of the complexion, the skin, the hair, the nails, or the teeth.
The Canadian cosmetic products market is segmented based on product type, category, and distribution channel. Based on product type, the market is segmented into face cosmetics, eye cosmetics, lip cosmetics, and nail cosmetics. Based on category, the market is segmented into mass and premium. Based on distribution channels, the market is segmented into supermarkets/hypermarkets, specialist retailers, online retail, and other distribution channels.
For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Product Type | |
| Face Cosmetics | |
| Eye Cosmetics | |
| Lip Cosmetics | |
| Nail Cosmetics |
| Category | |
| Mass | |
| Premium |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialist Retailers | |
| Online Retail | |
| Other Distribution Channels |
Canada Cosmetic Products Market Size Summary
The Canadian cosmetics industry is experiencing a robust growth trajectory, driven by a rising consumer preference for natural and organic products. This trend is further bolstered by the increasing demand for cruelty-free and eco-friendly cosmetics, alongside innovative packaging solutions. The market is benefiting from the growing influence of social media and e-commerce, which have expanded the accessibility and appeal of cosmetic products. Additionally, the shift in consumer spending towards premium and functional beauty products, coupled with a rise in household expenditure on personal care, is contributing to the market's expansion. The growing interest in men's cosmetics and the settlement of expatriates in Canada are also playing a significant role in shaping market dynamics.
The competitive landscape of the Canadian cosmetics market is characterized by the presence of major global players such as L'Oréal, The Estée Lauder Companies, and Coty Inc., who are actively innovating and diversifying their product offerings. These companies are leveraging digital strategies and sustainable practices to enhance their market presence and meet evolving consumer demands. The introduction of new product lines and strategic partnerships, such as L'Oréal's collaboration with TerraCycle for recycling initiatives, underscore the industry's commitment to sustainability and innovation. As the market continues to evolve, the focus on premium, natural, and environmentally friendly products is expected to drive further growth and diversification in the coming years.
Canada Cosmetic Products Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porter's Five Forces Analysis
-
1.3.1 Bargaining Power of Suppliers
-
1.3.2 Bargaining Power of Consumers
-
1.3.3 Threat of New Entrants
-
1.3.4 Threat of Substitutes
-
1.3.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION
-
2.1 Product Type
-
2.1.1 Face Cosmetics
-
2.1.2 Eye Cosmetics
-
2.1.3 Lip Cosmetics
-
2.1.4 Nail Cosmetics
-
-
2.2 Category
-
2.2.1 Mass
-
2.2.2 Premium
-
-
2.3 Distribution Channel
-
2.3.1 Supermarkets/Hypermarkets
-
2.3.2 Specialist Retailers
-
2.3.3 Online Retail
-
2.3.4 Other Distribution Channels
-
-
Canada Cosmetic Products Market Size FAQs
What is the current Canada Cosmetic Products Market size?
The Canada Cosmetic Products Market is projected to register a CAGR of 6.45% during the forecast period (2024-2029)
Who are the key players in Canada Cosmetic Products Market?
L'Oréal S.A., The Estée Lauder Companies, Coty Inc., Groupe Marcelle Inc. and Revlon, Inc. are the major companies operating in the Canada Cosmetic Products Market.
