DUBLIN, Dec. 8, 2023 /PRNewswire/ — The “United States Cosmetics Market Competition Forecast & Opportunities, 2028” report has been added to ResearchAndMarkets.com’s offering.
The United States Cosmetics Market expansion is attributed to increasing consumer expenditure on personal care products, heightened demand from the fashion and entertainment sectors, and the convenience offered by online shopping, including seamless online payment options.
Other factors contributing to the positive outlook for the US beauty and personal care industry include a diverse product range, exclusive discounts on newly launched items, and incentives for online transactions. As such, these factors are expected to drive the expansion of the United States cosmetics market.
The cosmetic industry encompasses the manufacturing and distribution of cosmetic products, spanning skincare items like moisturizers and cleansers, haircare products such as shampoos, conditioners, and hair colors, bath and shower items like bubble bath and soap, as well as makeup and color cosmetics like foundation and mascara.
According to our Cosmetics & Toiletries USA report, the 10% growth in retail sales over the past year can be attributed to several factors, including the resurgence of product categories like makeup, which had experienced a decline in recent years, and the return of foot traffic to physical stores.
Moreover, according to a 2022 CNBC report, sales of makeup, including lipstick, saw a 20% increase in the first half of the year, skincare rose by 12%, fragrance grew by 15%, and hair care showed a significant 28% increase. This growing demand for cosmetics is expected to drive the United States cosmetics market during the forecast period.
Increasing Consumer Spending on Cosmetic Products as a Growth Driver
Consumer spending on cosmetics and personal care items has surged, driven by heightened advertising and promotional efforts. Advertising often targets specific demographic groups, such as teenagers or elderly women, to effectively impact and engage these audiences. With significant product innovation in the market, consumers are exploring and embracing new product types.
Additionally, cosmetics play a role in boosting self-esteem, enhancing appearance, and expressing personal style, especially for women. This social expression tool contributes to the growth of the cosmetics market in the United States during the forecast period.
E-Commerce Sales Surge as a Key Growth Enabler
The beauty industry has been a pioneer in e-commerce innovation and creativity. Beauty retailers consistently introduce innovative offerings to enhance customer experiences, from clean beauty products to personalized skincare solutions and AI-driven cosmetic applications, including virtual ‘try-on’ tools and subscription options.
E-commerce platforms have revolutionized the cosmetics sector in recent years. Notably, Amazon is preferred by a significant 71% of American cosmetics consumers, followed by Ulta.com (54%), Sephora.com (54%), Walmart.com (47%), and Target.com (36%). Free and fast shipping are among the most appealing aspects of online cosmetic purchases. The expansion of e-commerce platforms is consequently propelling the growth of the United States cosmetics market.
Surge in Preference for Natural, Cruelty-Free, and Organic Cosmetics
Cosmetics have become integral to people’s daily routines, with a particular preference for natural ingredients that have minimal impact on the skin. Manufacturers increasingly use natural ingredients as a marketing strategy to attract health-conscious consumers. Chemicals used in cosmetic production can harm the skin and other body parts.
Prolonged usage of chemical-rich hair care and color cosmetics can lead to hair fall and skin infections. The rising awareness of the negative consequences of chemicals such as aluminum and paraben compounds found in cosmetic products has driven demand for natural and organic alternatives. As a result, the cosmetics products market is witnessing an increasing demand for these safer options.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United States Cosmetics Market.
- L’Oreal USA, Inc.
- Shiseido Co. Ltd.
- Estee Lauder Companies Inc.
- E.l.f. Cosmetics, Inc.
- Revlon Consumer Products Corporation
- HB USA Holdings, Inc. (Huda Beauty)
- Unilever PLC
- Coty Inc. (Kylie Cosmetics)
- Chanel Inc.
- Ulta Beauty, Inc.
Market Dynamics
Drivers
- Rise in Consumer Spending on Cosmetics Products
- Increasing Number of Women Working Population
- Availability of Affordable Makeup Products
Market Trends & Developments
- Explosion in E-Commerce Sales
- Raising Demand of Natural Cosmetics Product
- Adoption of Convenience Oriented Lifestyle
- Rise in Use of Cosmetics Among Men in their Daily Routine
- Rising Influence from Social media Influencers
Challenges
- Increase in Awareness of Probable Side Effects
- High Competition
Voice of Customer Analysis (B2C Model Analysis)
- Sample Size Determination
- Respondent Demographics
- By Gender
- By Age
- By Occupation
- Brand Awareness
- Sources of Awareness
- Factors Influencing Purchase Decision
- Challenges Faced Post Purchase
Report Scope
United States Cosmetics Market, by Type:
- Skin Care
- Hair Care
- Bath & Shower Products
- Makeup & Color Cosmetics
- Fragrances & Deodorants
United States Cosmetics Market, by Demography:
United States Cosmetics Market, by Distribution Channel:
- Offline
- Online
United States Cosmetics Market, by Geography
- South
- West
- Mid-West
- North-East
For more information about this report visit https://www.researchandmarkets.com/r/q0542d
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