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The teenage personal care product market size is estimated to increase by USD 12.27 billion, at a CAGR of 7.03% between 2023 and 2028.
The North American teenage personal care product market is poised for steady growth, fueled by millennials' increasing interest in fashion trends, particularly hairstyles like side parting and pompadour. The demand for hair care and styling products, including gels, wax, and serums, is rising. In Japan, personal care product penetration surpasses that of the US and Canada, while the latter sees a high demand for premium serums and organic hair colors. The regional market is further driven by the growing preference for non-silicon and chemical-free hair care products, benefiting from the global trend of online shopping, led by major e-commerce players like Amazon.com Inc., eBay Inc., and Flipkart Pvt. Ltd. This growth is supported by discounts and increased consumer convenience in the online marketplace, reflecting evolving consumption trends and shaping future forecasts.
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The development of improved and innovative products is the key factor driving market growth. While personal care goods were formerly geared toward female consumers, the development of a male grooming product line has greatly enhanced market growth, consequently functioning as an emerging trend in the personal care industry. Furthermore, the development of better and new female goods, such as multifunctional and cosmeceuticals, is likely to increase personal care product sales in the coming years.
Additionally, celebrity endorsement is a marketing strategy employed by most manufacturers. It has a major impact on the sales of personal care products. Manufacturers sign celebrities and experts from the beauty industry to promote and endorse their products. Thus, such factors are expected to positively influence the growth of the market during the forecast period.
The use of social media marketing for teenage personal care products is the primary trend shaping market growth. Aligning with market trends and analysis, social media plays a key role in increasing awareness about the availability of high-end personal care products, such as shampoos, face creams, and hair sprays. Consumers' engagement with social networking sites and their interest in blogging has led to the use of social media by market players for promotional activities.
Moreover, Facebook, Twitter, Instagram, and YouTube are some of the significant social media platforms for product promotions. Additionally, increased Internet penetration combined with expansion in the e-commerce business, has spurred demand and awareness for a diverse range of personal care items on the market. Thus, the increasing influence of social media is anticipated to widen product awareness, including hair care and makeup products, which will fuel revenue generation by the market during the forecast period.
The high cost associated with teenage personal care products is a challenge that affects market growth. Developing formulations that are suitable for teenage skin and meet safety standards can involve research and testing. The use of quality ingredients, especially those perceived as safe and effective, can contribute to higher production costs. Teenager personal care products may be formulated to address specific needs of teenage skin such as acne-prone or sensitive skin. Formulating specialized products often requires additional research and development, contributing to higher costs.
Moreover, products aimed at teenagers often feature trendy and visually appealing packaging. Investing in innovative packaging designs and materials that resonate with teenage consumers can add to the production costs. Teenagers are often influenced by trends and social media influencers. Brands may collaborate with influencers to promote their products, and these collaborations can be costly. Thus, the high cost of personal care products for teenagers may impede market growth during the forecast period.
The offline segment is estimated to witness significant growth during the forecast period. The growing retail industry and the establishment of numerous retail outlets are driving the sales of teenage personal care product through this segment. These outlets offer consumers a wide range of products to choose from and provide them with the convenience of finding everything under a single roof. Factors such as discounted prices and a pleasant shopping experience offered by the ambient atmosphere in the store and shelf displays encourage consumers to buy varied types of teenage personal care product from offline stores.
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The offline segment was the largest segment and was valued at USD 17.22 million in 2018. Further, the number of offline distributional channels are increasing in the US, the UK, and Brazil, and this trend is expected to continue in the next five years. Mass merchandisers include supermarkets, hypermarkets, and departmental stores that offer limited and popular brands of teenage personal care product. Furthermore, since specialty stores provide personal luxury products of different brands, more affluent consumers and loyal customers are inclined toward specialty stores for the purchase of desired teenage personal care product that are not available online or in other retail stores. Due to all this, the offline distribution channel is expected to dominate market during the forecast period.
Online shopping has become popular due to the rising Internet and smartphone penetration. An extensive range of teenage personal care products of different categories, price ranges, and brands are available online. Furthermore, e-commerce platforms offer personalized shopping assistance and suggestions about products. Thus, consumers increasingly prefer online platforms for purchasing products such as teenage personal care products. E-commerce vendors allow consumers to compare and collect information about teenage personal care products as well as offer a platform for consumers to provide valuable feedback on products through reviews and ratings. Thus, such factors are likely to increase the sales of teenage personal care products through the online distribution channel during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast years. The teenage personal care product market in North America is expected to grow steadily because millennials are becoming increasingly interested in developing fashion trends. Fashion trends in hairstyles and haircuts contribute significantly to increased demand for hair care and styling products such as gels, wax, hair oils, serums, hair foams, and dry shampoo. Furthermore, the growing trend of online shopping is also contributing to market growth in North America. In developing markets, like the US, e-commerce vendors offer discounts on almost every product to increase the volume of sales of personal care products, including hair care and styling products. Major e-commerce players operating in North America are Amazon.com Inc., eBay Inc., and Flipkart Pvt. Ltd.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Key Offering- Beiersdorf AG: The company offers teenage personal care products under the brands Eucerin, La Prairie, and Labello.
Key Offering- Colgate Palmolive Co.: The company offers teenage personal care products under the brands Sanex, Protex, and Colgate.
The Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Bayer AG, Carma Labs Inc., Coty Inc., EOS, GROUPE ROCHER, Johnson and Johnson, Kimberly Clark Corp., LOreal SA, Natura and Co Holding SA, Oriflame Cosmetics S.A., Revlon Inc., Shiseido Co. Ltd., The Clorox Co., The Estee Lauder Companies Inc., The Procter and Gamble Co., Unilever PLC, The Avon Co., and Kao Corp.
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market research and growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028.
Teenage Personal Care Product Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.03% |
Market Growth 2024-2028 |
USD 12.27 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.77 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bayer AG, Beiersdorf AG, Carma Labs Inc., Colgate Palmolive Co., Coty Inc., EOS, GROUPE ROCHER, Johnson and Johnson, Kimberly Clark Corp., LOreal SA, Natura and Co Holding SA, Oriflame Cosmetics S.A., Revlon Inc., Shiseido Co. Ltd., The Clorox Co., The Estee Lauder Companies Inc., The Procter and Gamble Co., Unilever PLC, The Avon Co., and Kao Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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