$1.6bn
$XXX.Xm
6,958
4,913
$XXX.Xm
Canadian beauty retailers have faced moderate revenue volatility in recent years. Although the pandemic negatively impacted most retailers because consumers cut down discretionary spending, beauty stores experienced high demand during this time. Many consumers used their time at home during quarantine to find beauty routines that work for them, resulting in a jump in demand for haircare and skincare products. Because consumers have adopted these products into their daily beauty or self-care routines, they are more likely to buy them despite unfavourable macroeconomic conditions, including weaker disposable income or elevated inflation. Although these factors have contributed to slower growth, the beauty store space prevented revenue losses. As a result, revenue has grown at an estimated CAGR of 3.2% to $1.6 billion through 2024, including a 0.9% gain that year alone.
Industry revenue has grown at a CAGR of 3.2 % over the past five years, to reach an estimated $1.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Sephora | 313.8 | 86.2 | 27.5 | |
Bath & Body Works Inc. | 156.3 | 27.2 | 17.4 | |
Sally Beauty Holdings Inc. | 133.1 | 14.3 | 10.7 |
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Beauty, Cosmetics & Fragrance Stores in Canada
Industry revenue is measured across several distinct product and services lines, including Skincare products, Nail products, deodorants and other hygiene products and Fragrances. Skincare products is the largest segment of the Beauty, Cosmetics & Fragrance Stores in Canada.
Cosmetic sales bounced back quickly
Beauty, cosmetics and fragrance stores in Canada sell various personal care products, including cosmetics, perfume, hair care, skincare and related items. This industry’s target market includes household and professional users, including hair stylists and makeup artists.
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NAICS 446120 - Beauty, Cosmetics & Fragrance Stores in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Online sales have supported demand for beauty stores. Consumers are increasingly leveraging online platforms to compare prices across retailers, check users' reviews and make...
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High-income earners spend freely on beauty products. These buyers are less impacted by macroeconomic changes than lower-income shoppers, enabling them to account for the larg...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Beauty store distribution in Canada aligns with population patterns. Ontario has the most retailers, driven by its large consumer market, making it the province with the high...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Beauty retailers face fierce competition from multiple retail channels. The booming beauty market has led supercenters like Walmart and online giants like Amazon to significa...
Learn about the performance of the top companies in the industry.
Sephora is a major global beauty retailer. The company leads online and physical sales across Canada, showcasing its dominant market position.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Beauty stores must comply with data and privacy laws as online shopping grows. Retailers must follow regulations on collecting, storing and using customer data to protect con...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchases continue to account for retailers' largest expenses. Retailers have passed cost increases to buyers despite upstream manufacturers facing significant input price vo...
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Beauty, Cosmetics & Fragrance Stores industry in Canada is $1.6bn in 2024.
There are 4,913 businesses in the Beauty, Cosmetics & Fragrance Stores industry in Canada, which has grown at a CAGR of 5.0 % between 2019 and 2024.
The market size of the Beauty, Cosmetics & Fragrance Stores industry in Canada has been growing at a CAGR of 3.2 % between 2019 and 2024.
Over the next five years, the Beauty, Cosmetics & Fragrance Stores industry in Canada is expected to grow.
The biggest companies operating in the Beauty, Cosmetics & Fragrance Stores market in Canada are Sephora, Bath & Body Works Inc. and Sally Beauty Holdings Inc.
Retailing skincare products and Retailing cosmetics are part of the Beauty, Cosmetics & Fragrance Stores industry.
The company holding the most market share in Canada is Sephora.
The level of competition is high and increasing in the Beauty, Cosmetics & Fragrance Stores industry in Canada.