Global Market Research Company US North America Lipstick Market Forecast & Opportuni | Page 10

Industry Brief
According to TechSci Research report, ‘North America Lipstick Market By Product Type, By Distribution Channel, By Country,
Competition, Forecast & Opportunities, 2013–2023’, North America lipstick market is projected to cross $ 5 billion by 2023.
Anticipated growth in the market over the next five years is expected to be led by new product innovations by key market
players coupled with improving consumer confidence index in the region. Moreover, consumers are exhibiting increasing
willingness to switch from chemical laden conventional cosmetics to natural products, which is positively influencing the region’s
lipstick market.
United States accounts for majority value share in North America lipstick market on account of huge consumer base, high per
capita income levels and availability of numerous brands across the country. L'Oréal International, Shiseido Company, Limited,
The Estée Lauder Companies Inc., etc., are some of the companies operating in North America lipstick market. Among
distribution channels, Supermarket / Hypermarket generated the highest sales for lipsticks in North America lipstick market in
2017. The segment is anticipated to continue dominating during forecast period as well on the back of ease of convenience
provided by this sales channel. However, online sales channel is expected to witness the fastest growth during forecast period,
owing to rising penetration of internet and rising popularity of e-commerce platform.
“Rising focus of manufacturers on product innovations is fueling growth in North America lipstick market. Moreover, changing
marketing strategy of lipstick manufacturers coupled with their focus on continuous product development and convenient &
attractive packaging is further anticipated to positively influence North America lipstick market in the coming years. Additionally,
emergence of e-commerce along with growing demand for cosmetics among youth and working women population would further
steer the market over the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
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