U.S. Cosmetics Market Key Challenges, Growth Path, 2032

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 showing a growing preference for cosmetic products as awareness around personal grooming and skin hygiene continues to rise. Skincare and beauty solutions are no longer limited to women, with a significant increase in male consumers embracing regular grooming routines. The global rise in the number of working women has also fueled demand for premium and luxury cosmetic brands, contributing to increased market spending. At the same time, heightened environmental consciousness is prompting consumers to opt for products with minimal environmental impact. In response, cosmetic companies are investing heavily in sustainable, eco-friendly packaging solutions. These evolving consumer preferences are set to propel the growth of the U.S. cosmetics market in the coming years.

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: This report provides both quantitative and qualitative insights into the U.S. cosmetics industry, offering a comprehensive analysis of market size and growth rates across various segments. It delves into the competitive landscape, key market dynamics, and future industry outlook. Additionally, the report includes detailed assessments of product pricing trends, procedure volumes, pipeline developments, regulatory frameworks across major countries, and the impact of COVID-19. It also highlights notable industry events such as new product launches, mergers, acquisitions, and strategic partnerships.

Drivers and Restraints: Rising Influence of Social Media to Drive Product DemandThe cosmetics and personal care sector in the U.S. is undergoing significant transformation, largely driven by the younger generation’s engagement with social media. Platforms like Instagram, TikTok, and YouTube are shaping beauty trends and encouraging consumers to recreate popular looks, thereby fueling product demand. In response, beauty brands are adopting cutting-edge technologies to redefine cosmetic applications, which is leading to evolving consumer preferences and innovative product offerings.

However, the market faces a key restraint: the extended use of synthetic cosmetic products can lead to skin irritation and other dermatological issues. These concerns may deter some consumers and pose challenges to sustained 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.