London, 28 July 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Beauty and Personal Care Market in North America, which is expected to grow at a CAGR of 3.10 percent during the period of 2013-2018.
Beauty and personal care product manufacturers and retailers in the US have been investing heavily in new technologies to offer improved services and information to their customers. For instance, to tackle the problem of foundation matching, the specialist retailer Sephora recently expanded the presence of its Sephora+Pantone Color IQ service.
Key Market Drivers
- Aging Population
- Increase in Instances of Hair-related Problems
- High Demand for Male Toiletries
- Demand for Luxury/Premium Products
- Increase in Marketing and Promotions
Key Market Trends
- Product Innovations
- New Improved Packaging
- Rise of Ethnic-focused Brands
- Popularity of BB Creams
- Demand for Organic Products
- Advances in Technology in Beauty Products
“The Beauty and Personal Care market in North America is becoming intensely competitive, with vendors putting effort and money into marketing and promoting their products. The main motive behind marketing and promotions is to reach a large cohort of consumers, make them aware of the products of the company, and build an image in their minds,” says Faisal Ghaus, Vice President of TechNavio.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on
Beauty and Personal Care Market in North America 2014-2018, please send an e-mail to media@TechNavio.com.
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