High demand for premium cosmetics, increasing awareness about overall appearance among individuals, and the ease of using e-commerce platforms are key factors driving the United States cosmetics market.
According to TechSci Research report, “United States Cosmetics Market– By Region, Competition Forecast & Opportunities, 2018-2028F”, The United States cosmetics market is expected to grow at a higher pace during the forecast period, due to high penetration rate of global brands coupled with burgeoning demand for natural cosmetics. The increase in the working women population and an increasing number of beauty clinics are also aiding the United States cosmetics market. Moreover, rising per capita expenditure on personal appearance, strong regulatory framework, and growth in the beauty and cosmetics market are some other factors expected to propel the demand for the cosmetics market in the United States, over the next five years.
In the United States, due to the emergence of beauty influencers, who post YouTube tutorials and Instagram stories about their preferred face creams, lipsticks, mascara, compact powder, etc., is making consumers buy new products. Many cosmetic companies have begun to abandon traditional advertising in favor of using well-known celebrities and influencers to market their brands to target audiences. As a result, the demand for cosmetic items in the United States has increased dramatically over the years.
The United States cosmetics market is witnessing an increase in female and male consumers. Consumers spend a lot on cosmetic items because they want to look good. Many top cosmetic brands in the world have their headquarters in United States. More companies are selling their products on their website and other e-commerce sites, helping in the expansion of the US cosmetics sector.
Personal care products have experienced a boom in demand as consumers with the rising awareness of people towards protecting themselves. The products that have had a noticeable increase in sales are soaps, sanitizers, and disinfectants. Consumers can easily purchase cosmetics through e-commerce, which offers straightforward online payment options. Other factors anticipated to improve the outlook for the US cosmetics sector in the coming years include simple returns and replacements, a wide range of products, exclusive discounts on newly launched products, and incentives for online payments.
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United States cosmetics market is segmented into type, demography, and distribution channel. Based on type, the market is segmented into skin care, hair care, bath & shower products, makeup & color cosmetics, and fragrances & deodorants. In the US market, there is a significant demand for makeup and color cosmetics. Companies in the nation are generating money by selling foundations, which increases the segment’s market share.
Based on demography, the market is segmented into men and women. Among them, women contributed to a significant share in the market due to the growing fascination of women consumers towards makeup along with the availability of variety of makeup brands to choose from.
Based on distribution channel, the market is segmented into offline (supermarkets/hypermarkets, exclusive retail stores, beauty parlors/salon, multi branded retail stores), and online. Shopping through e-commerce platforms is expected to grow in the forecast period as customers of all generations have become comfortable with this mode of purchase and are also able to maintain social distancing.
Key market players in the global United States cosmetics market include:
- L’Oreal USA, Inc.,
- Shiseido Co., Ltd.,
- Estée 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.
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“With the growing sense of personal appearance among men & women, the market is poised to undergo significant growth. Consumers, particularly women, prefer to use cosmetic items that are handy and simple to use while traveling or attending social gatherings. Additionally, a popular approach used by manufacturers to attract more customers is the usage of natural substances while creating cosmetic products that don’t harm the skin. This aids in boosting the revenue of companies engaged in this market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Cosmetics Market By Type (Skin care, Hair Care, Bath & Shower products, Makeup & Color Cosmetics, Fragrances & Deodorants), By Demography (Men, Women), By Distribution Channel (Offline (Supermarkets/Hypermarkets, Exclusive Retail Stores, Beauty Parlors/Salon, Multi Branded Retail Stores), Online), By Region, By Company, By Company, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of cosmetics in the United States market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the United States Cosmetics market.