U.S. Beauty Products Market 2021 Set to Witness Huge Growth by 2030


Posted November 8, 2021 by Rahul_Gautam

U.S. Beauty Products Market To Advance At 4.8% CAGR during 2020–2030
 
A number of factors such as the booming geriatric population, surging incidence of skin ailments, rising shift of customers toward chemical-free and organic products, and soaring personal care expenditure are expected to propel the U.S. beauty and personal care products market at a CAGR of 4.8% during 2020–2030. According to P&S Intelligence, the market revenue is expected to surge from $81.1 billion in 2019 to $128.7 billion by 2030. Moreover, the escalating number of working women, growing consciousness about personal healthcare, and increasing disposable income of people will support the market growth in the coming years.

The rising availability of beauty and personal care products on e-commerce platforms is one of the key market drivers. The beauty industry has been at the forefront of e-commerce reinvention and innovation in the U.S. Beauty retailers are offering a wide range of beauty products, from clean beauty products to artificial intelligence (AI)-based and hyper-personalized skincare solutions, on e-commerce platforms to enhance their customer base and provide better shopping services to customers. Additionally, these online shopping platforms also provide a wide range of discounts to lure more customers.

In recent years, the growing preference of customers for easy-to-use at-home beauty devices has become a prominent trend in the U.S. beauty products market. People across the world are using such devices for hair removal, acne reduction, skin rejuvenation, and de-pigmentation. At-home beauty devices are offering higher efficiency and greater convenience, due to the integration of dermatologically advanced technologies in such devices. The increasing use of such devices can be credited to the rising focus of the younger population on maintaining its youthful look and escalating focus of elderly people on minimizing the signs of aging.

The type segment of the U.S. beauty products market is categorized into color cosmetics, skin care, baby care, hair care, oral care, sun care, deodorant, fragrance, bath and shower, men’s grooming, and depilatory. Among these, the skin care category generated the highest revenue in 2019, and it is expected to continue this trend throughout the forecast period. This can be credited to the booming millennial population in the workforce of the country, soaring consciousness regarding health and wellness, and burgeoning demand for skin care products from the entertainment and fashion sectors.

The distribution channel segment of the U.S. beauty products market is classified into marketplace platform, professional health and beauty outlet, club/value store, brand owner to store/franchise, local marketplace platform, brand owner to home, specialist marketplace platform, dermatologist, social commerce, and new cross-category distribution point. Under this category, the new cross-category distribution point category is expected to witness the fastest growth during the forecast period, as it offers ease of shopping to the customers. This is a dedicated offline distribution channel where several beauty product brands are offered in a single place.

Currently, the U.S. beauty products market is highly fragmented in nature, with the presence of numerous players offering a diverse range of standard, mass, and premium products. At present, the key players, such as Johnson & Johnson, Kimberly-Clark Corporation, Revlon Inc., Oriflame Holding AG, L’Oréal S.A., The Estée Lauder Companies Inc., Avon Products Inc., Koninklijke Philips N.V., Coty Inc., The Procter & Gamble Company, Shiseido Company Limited, and Unilever Group are focusing on product pricing, brand reputation, product quality, and product pricing to gain a competitive edge in the market.

Thus, the bolstering e-commerce sector and surging use of at-home beauty devices in the U.S. will augment the demand for beauty products in the country in the foreseeable future.
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Issued By Rahul Gautam
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Categories Beauty , Business , Consumer
Tags us beauty products market , us beauty products market scope , us beauty products market size
Last Updated November 8, 2021