US Beauty & Personal Care Market worth $92 Bn in 2022, Will it sustain? REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit US Beauty & Personal Care market is set to grow in double digit CAGR in the next 5 years, reaching upto a market size of $113 Bn by 2028 Increasing population & focus on grooming & self-care demands innovative products & services which provide an attractive physical appearance & personality. Additionally, the major players in the market are utilizing social media & influencer marketing to the fullest, makes it the most sought-after industry in the United States. Story Outline The United States is experiencing a rapid transition with increasing income & decreasing wealth inequality, empowering consumers to afford innovative beauty products. Beauty giants like Loreal are investing significantly in research & development to create cutting-edge products, enhancing consumer experience & benefits. Beauty & personal care industry is booming through ecommerce platforms, with web sales generating billions in revenue. Social media & influencer marketing playing a crucial role in advertising expenditures. Additionally, emerging segments like men’s grooming products are contributing to industry’s expansion & growth. According to Ken Research, the revenue generated in the US beauty & personal care is $92 billion in 2023, with the largest segment being the personal care market, because of increasing incomes & awareness in people about their personal appearance. 1. Rapid transitions to reduced inequalities Increases Premium Purchases Download a Sample Report of US Cosmetics & Personal Care market United States has been undergoing a rapid transition with increasing income & decreasing wealth inequality. In 2021, the average income of Americans was at $70,784 per year, which decreased a little as it came under $61,900 per year in 2022. It has reached to $74,738 in 2023. Between February 2020 & September 2022, average income for the lowest earning 50 per cent of Americans had increased more than 50%, faster than every population group, except the top 1 per cent of the population. In a population where everyone’s income is increasing steadily, everyone gets the power to buy premium products & innovative products which were offered in the market. 2. Beauty Giants like Loreal Boost R&D Investments in the US for Cutting-Edge Products L’Oreal Research & Development Centers in United States, 2022 In 2022, Loreal, one of the leading players in the beauty market across the world, invested around 1 billion euros towards research & development as they earned about 38.26 billion euros globally that year. Additionally, they have also invested towards $140 million towards developing a research & development centre in Newark area in the United States. Loreal & other companies like Estee Lauder invest money into different countries so that they can create new & improved products to offer enhanced benefits & excellent consumer experience for their users. According to Ken Research, the US beauty & personal care market size reached $92 billion in 2023, with the largest segment being the personal care market, majorly because of increasing incomes & awareness in people about their personal appearance. 3. Digital Beauty Boom as E-commerce Drives $54 billion sales in the US In United States, the websites which are known for selling beauty & personal care products include Sephora, Glossier, Ulta, Purplle etc. to name a few. Having these many e-commerce websites helps the consumer browse through various shopping websites & order items at the comfort of their homes. In 2021, personal care sales in the retail market generated nearly $54 billion in ecommerce revenue & accounted for over 11 percent of total retail ecommerce sales that year. Given the widespread digital connectivity & internet penetration, web sales are becoming a reliable source of revenue for beauty & personal care industry. 4. Social Media & Influencers Reign: Beauty Industry’s $373 Million Ad Spend in 2023 us skincare products market Download a Custom Report of us skincare products market Beauty industry is one of the leading avenues which is heavily exploring marketing through social media & influencer marketing. 42 per cent of people between the age of 18-24 years are inspired by social media when it comes to make up. In January, 2023 beauty advertisers in the United States invested about $373 millions to promote their products. Ad expenditures in the cosmetics & personal care industry had crossed four billion dollars in 2021. 5. Emerging Segments like Men’s Grooming Spark Boom in US Beauty & Personal Care There are numerous segments which are emerging in the beauty & personal care in the United States. One of them includes men’s grooming. In 2022, the male grooming market in the country had reached to $16 Bn in 2022 & the demand for male grooming products is likely to accelerate with top marketing players holding prominent shares. Several influential male celebrities, athletes, and social media personalities have also impacted the men’s grooming products and routines like Chris Pratt, NBA superstar LeBron James, musician Pharrell Williams, and entrepreneur and social media influencer Jeffree Star. Their public endorsements and discussions about grooming have significantly contributed to the growing popularity of men’s grooming in the U.S. Conclusion Reduced income inequalities have led to empowered consumers to invest in premium & innovative products, bolstered by e-commerce platforms. Social media & influencer marketing have become powerful tools of promotion, driving substantial advertising expenditures. Emerging segments like men’s grooming & organic products are contributing to industry’s expansion. With increased awareness & consumer demand, future looks promising for the US market. 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