Market Overview:
According to Fortune Business Insights U.S. is the largest market for cosmetic products globally. The U.S. cosmetics market size is projected to record 6.01% CAGR during the forecast period. The global market is estimated to grow from USD 335.95 billion in 2024 to USD 556.21 billion by 2032.
Consumers are increasingly turning to cosmetic products as they become more conscious of the importance of grooming and maintaining good skin hygiene. Skincare solutions and cosmetics are gaining notable traction among male consumers as well, with more men adopting structured grooming routines. Additionally, the rising percentage of working women globally has contributed to higher spending on luxury cosmetic brands. At the same time, growing environmental awareness is driving consumers to seek products with a lower carbon footprint. In response, companies are making significant investments in sustainable and eco-friendly packaging. These trends are expected to drive the growth of the U.S. cosmetics market in the years ahead.
LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT
- L’Oréal Professional (France)
- Unilever (U.K.)
- Procter & Gamble (U.S.)
- Henkel AG & Co. KgaA (Germany)
- Revlon, Inc. (U.S.)
- Shiseido Co., Ltd. (Japan)
- Coty Inc. (U.S.)
- Natura & Co. (Brazil)
- Kao Corporation (Japan)
- Revlon, Inc. (U.S.)
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In terms of category, the market is divided into hair care, skin care, makeup, and others.
Based on gender, the market is bifurcated into men and women.
In terms of distribution channel, the market is segmented into specialty stores, hypermarkets/supermarkets, online channels, and others.
Report Coverage:
The report offers quantitative and qualitative insights into the industry and an elaborate analysis of the U.S. market size & growth rate for all possible segments in the market. This report also gives a deeper understanding of the competitive landscape, market dynamics, and the industry forecast. Many valuable insights presented in this report are an overview of price analysis of types of products, number of procedures, pipeline analysis, regulatory scenario in key countries, new product launches, key industry developments – mergers, acquisitions & partnerships, and the effect of COVID-19 on the industry.
Drivers and Restraints:
Growing Usage of Social Media Platforms to Spur Product Sales
The young population in the U.S. has completely transformed the cosmetics & personal care sector as they are getting heavily influenced by social media platforms and want to create looks that are trending. They are also looking for smart ways to enhance their appearance, which is expected to further boost the market growth. Many beauty brands are also using advanced technologies to transform the way cosmetics are used. This has given rise to newer makeup trends, causing a major shift in young customers’ buying patterns.
However, prolonged usage of synthetic makeup products carries the risk of creating skin problems, which can hamper the market growth.
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Competitive Landscape:
The key players accounting for a sizable U.S. cosmetics market share include Kao Corporation, P&G, L'Oréal S.A., Revlon, Inc., the Estée Lauder Companies, and Coty Inc. These organizations are investing a lot of money in their R&D activities and programs to make innovative cosmetic products and gain a competitive edge in the market. They are also initiating promotional events and campaigns to improve their brand value and exhibit their product ranges to expand their customer base.
Key Industry Development:
November 2022: Avon collaborated with Perfect Corp. to create and introduce a virtual try-on online shopping experience for its customers. Through this launch, consumers can try a wide range of makeup products over online portals using the AI-based power technology developed by Perfect Corp.
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