United States Cosmetics Market

United States Cosmetics Market Size:

The United States cosmetics market size reached US$ 19.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 26.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032. The market is being driven by the increasing demand for organic products, the rising disposable incomes of individuals, the growing product development and differentiation, and the escalating influence of social media platforms and influencers.

United States Cosmetics Market Analysis:

• Major Market Drivers: The increasing demand for natural and sustainable cosmetic products is driving the United States cosmetics market growth.
• Key Market Trends: The rise of clean beauty and the growth of independent brans are key market trends.
• Challenges and Opportunities: The increasing competition among the market players is a challenge. The rising digital transformation and the emerging markets are opportunities for the market.

United States Cosmetics Market Trends:

Increasing preference for organic and cruelty-free products

The United States cosmetics market report shows an increase in demand for natural and organic products as consumers become more aware of the detrimental effects of certain compounds included in skincare and haircare products, as well as deodorants. A substantial percentage of consumers prefer products with natural formulations over others. Recently, there has been an increase in demand for safe, natural, and organic products. As a result, the market clearly shows a demand for natural components. As a result, most companies are introducing solutions that blend nature-inspired components, such as sophisticated botanicals, with multifunctional capabilities. Major players are also attempting to end animal testing in the cosmetics industry. For instance, Coty, one of the world’s largest beauty companies, partnered with Cruelty Free International, the leading organization working to end animal testing.

Rising expenditure on beauty and personal care products

Consumer spending on cosmetics and other personal care products has risen. Due to increased advertising and promotional activity, American consumers are buying these cosmetic items. Consumers are being introduced to and experimenting with new types of items as a result of rapid market innovation. Product experience is crucial in the cosmetics business since people prefer to buy items that are suitable for their skin or hair type. As a result, corporations like Avon and Estee Lauder have increased their marketing budgets for these efforts in recent years. Due to pollution and improved awareness, men are now paying more attention to skincare. As a result, market participants are also manufacturing products for men, which now holds a significant United States cosmetics market share. For example, in April 2022, Nivea Men, a Beiersdorf AG brand, introduced a skincare product called "Climate Care Moisturizer" using chemicals derived from recycled carbon dioxide. The product contains 50% ethanol made by carbon capture and utilization.

Expansion of e-commerce platforms

The growth of e-commerce platforms is propelling the overall market. The growing number of individuals using e-commerce platforms to purchase a variety of consumer goods is also driving up demand. Growing penetration of offline retail channels, rise in demand for personal care products owing to peer-group pressure, increased availability of a variety of modern-day cosmetics in different kinds of stores including hypermarkets, convenience stores, and grocery corners, among others, and impact of aggressive market strategies adopted by the top brands operating in the cosmetic industry are some of the key contributing factors for the potential growth of the U.S. cosmetics market.

United States Cosmetics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2024-2032. Our report has categorized the market based on product type, category, gender, and distribution channel.

Breakup by Product Type:

• Skin and Sun Care Products
• Hair Care Products
• Deodorants and Fragrances
• Makeup and Color Cosmetics
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes skin and sun care products, hair care products, deodorants and fragrances, makeup and color cosmetics, and others.

Breakup by Category:

• Conventional
• Organic
   

A detailed breakup and analysis of the market based on the category have also been provided in the report. This includes conventional and organic.

Breakup by Gender:

• Men
• Women
• Unisex
   

The report has provided a detailed breakup and analysis of the market based on gender. This includes men, women, and unisex.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Pharmacies
• Online Stores
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, specialty stores, pharmacies, online stores, and others.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major markets in the region, which include Northeast, Midwest, South, and West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have been provided.

Cosmetics and other beauty items are becoming increasingly popular in the United States due to the high demand for organic and natural products. Furthermore, skin sensitivity and allergies have fueled consumer demand for organic and vegan skincare products. Due to this, the key players are focusing on new product launches per consumer preferences. Market participants are developing organic skincare and personal care products based on consumer preferences. For example, Amour's Secrets Skincare made its debut in the US cosmetics industry in December 2022, emphasizing natural, clean, non-toxic, plant-based ingredients that refresh, revitalize, and enhance skin. This, in turn, is propelling the United States cosmetics demand.

United States Cosmetics Market News:

• In February 2023, Coty Inc., announced a new licensing agreement with Marni, an Italian luxury fashion house, to develop, produce, and distribute cosmetics. The partnership is aimed at expanding the company’s portfolio through shared innovations and exchange of expertise.
• In January 2024, Shiseido, a leading player in the cosmetics market, revealed their latest innovation, a digital application for beauty AR navigation. This new technology is designed to enhance beauty treatment regimens by allowing users to employ smartphones and tablets to implement Shiseido's strategy effectively.
• In September 2022, Amour's Secrets Skincare launched in the US beauty market, focusing on natural, clean, non-toxic, and plant-based ingredients designed to refresh, rejuvenate, and improve skin health. The brand introduced five new anti-aging skincare products, starting with a cleansing hydrating oil, and including an eye cream, whipped face cream, mild foaming face wash, and a face scrub.

United States Cosmetics Market Report Scope:

Key Questions Answered in This Report:

• How has the United States cosmetics market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States cosmetics market?
• What is the breakup of the United States cosmetics market on the basis of product type?
• What is the breakup of the United States cosmetics market on the basis of category?
• What is the breakup of the United States cosmetics market on the basis of gender?
• What is the breakup of the United States cosmetics market on the basis of distribution channel?
• What are the various stages in the value chain of the United States cosmetics market?
• What are the key driving factors and challenges in the United States cosmetics market?
• What is the structure of the United States cosmetics market, and who are the key players?
• What is the degree of competition in the United States cosmetics market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States cosmetics market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States cosmetics market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States cosmetics industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.