United States Cosmetics Market Analysis
United States Cosmetics Market size is expected to be approximately US$ 142.79 Billion by 2032 from to US$ 93.60 Billion in 2023. The CAGR for the market from 2024 to 2032 is 4.80%.
Cosmetics are pharmaceutical products that enhance the appearance of the skin and body odor. They come in various forms, such as lotions, creams, and powders, and serve to protect, hydrate, and cleanse the skin. Consumers generally prefer cosmetics with less harmful effects on their skin. Cosmetics have been used for at least 7,000 years and are utilized in almost every society. People from diverse ethnicities and cultural backgrounds use makeup daily. The main factors contributing to the popularity of cosmetics are creative self-expression and self-identity. The primary purpose of cosmetics is to help the wearer achieve a fresh and presentable appearance.
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The United States cosmetics market is a vibrant and competitive sector. It encompasses many products, including skincare, haircare, makeup, fragrances, and personal care items. The market is driven by continuous innovation, diverse consumer preferences, social media influence, and celebrity endorsements. The growing demand for natural and organic products is a significant trend in the U.S. cosmetics market. Consumers are increasingly seeking out products with clean, sustainable, and ethically sourced ingredients. This has led to the rise of niche brands that emphasize transparency and environmental responsibility.
Technology and digital transformation also play a crucial role, with augmented reality (AR) and artificial intelligence (AI) enhancing the online shopping experience. These technologies allow consumers to try on products and receive personalized recommendations virtually. The market is also characterized by its inclusivity, with brands expanding their product lines to cater to diverse skin tones and types, reflecting the country's multicultural demographic.
Beauty companies are noticing that sustainability is becoming an increasingly important aspect of the customer experience in the cosmetics and beauty industry. According to a Clean Hub poll, 63% of customers consider clean beauty to be "very or essential" when choosing cosmetics, indicating a strong preference for companies that prioritize environmental responsibility. Additionally, 70% of customers consider a business's eco-credentials. The cosmetics industry in the United States has experienced a notable rise in consumer interest in organic beauty products. Natural and organic beauty products are in high demand as people become more conscious of their health and the environment. According to a study on Research Gate, 56.4% of customers agreed or strongly agreed that cosmetics made with organic materials were healthier for the environment, and 81.8% of consumers concurred. This significant demand for organic and vegan products drives the United States cosmetics market.
It has become increasingly common for both men and women to be overly concerned with their appearance over the past thirty years. Many people link body image with physical appearance, attractiveness, and beauty. According to a study by Advanced Dermatology, 67% of the survey participants expressed concerns about their appearance, and 58% struggled with self-confidence, regardless of their spending habits. This increased focus on appearance drives the cosmetics market in the United States. Research published in Advanced Dermatology also revealed that adults spend an average of $722 per year on their appearance, with women spending more ($877) than men ($592). On average, Americans have spent $630 on cosmetic procedures. Nearly one in six Americans are overspending on fitness and appearance.
Gen Z, making up around 20% of the US population in 2023, is expected to significantly impact the cosmetics industry due to its emphasis on innovation and authenticity. This generation values diversity and individuality, with eight out of ten Gen Z youth and millennials expressing that "being yourself" is central to their idea of beauty. They see brands as an extension of themselves and are tech-savvy, accessing information and tutorials online. These influences are driving changes in the US cosmetics market.
United States Cosmetics Company News
The United States cosmetics market is dominated by major companies such as Coty Inc., Procter Gamble, The Estee Lauder Companies Inc., Colgate-Palmolive Company, Johnson Johnson Services Inc., Revlon Inc., and Mary Kay Inc.
In March 2024 - Garnier delves into the trend of bond restoration by introducing its present-day Fructis Hair Filler line. This new product features advanced bond restoration systems to effectively fill and repair visibly damaged hair. A sturdy advertising and marketing initiative support the product launch by TikTok and TV sensation Charli D'Amelio.
In March 2024 - Granado, a Brazilian beauty brand that originated in Rio de Janeiro in 1870, initiated a strategic endeavor to enhance its international sales presence. With connected locations in Paris, London, Lisbon, and Brussels, Granado recently inaugurated its inaugural store on Madison Avenue in New York City.
In February 2024 - Shiseido Company Limited's subsidiary, Shiseido Americas Corporation, finalized its DDG Skincare Holdings LLC acquisition, including the Dr. Dennis Gross Skincare brand. This acquisition aligns with Shiseido's skin beauty method, boosting its geographic growth and boom in the Americas.
In March 2023 - A'pieu debuted in the US, concentrating on Gen Z consumers with products like the Juicy Pang Water Blusher.
In February 2023 - The Beauty Health Company, renowned for its flagship brand HydrafacialTM, revealed a firm commitment to acquiring SkinStylus®, an FDA-cleared microneedling device, through a definitive agreement.
In September 2023 - The Brand Incubator by Innovative Beauty Group (IBG) unveiled a blue light-blocking cosmetics line at Walmart. This new range was developed to shield the skin from the adverse effects of digital devices.
In October 2023, the renowned denim label Wrangler and fragrance experts Tru Western introduced a fresh line of colognes, drawing inspiration from the American cowboy's rugged confidence, bold spirit, and lifestyle.
Product Types – United States Cosmetics Market breakup in 5 viewpoints:
- Skin and Sun Care Products
- Hair Care Products
- Deodorants and Fragrances
- Makeup and Color Cosmetics
- Others
Gender – United States Cosmetics Market breakup in 3 viewpoints:
- Men
- Women
- Unisex
Type – United States Cosmetics Market breakup in 5 viewpoints:
- Supermarkets/hypermarkets
- Specialty Store
- Pharmacies
- Online Sales
- Others
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
- Coty Inc.
- Procter Gamble
- The Estee Lauder Companies Inc.
- Colgate-Palmolive Company
- Johnson Johnson Services Inc.
- Revlon Inc.
- Mary Kay Inc.
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