Dublin, May 24, 2024 (GLOBE NEWSWIRE) -- The "United States Cosmetics Market Report by Product Types, Gender, Distribution Channel, and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The United States Cosmetics Market is poised for significant growth, with projections estimating the market size will reach approximately US$ 142.79 billion by 2032, expanding at a compound annual growth rate (CAGR) of 4.80%. The market, valued at US$ 93.60 billion in 2023, is driven by rising consumer demands for organic and vegan products, increased investment in personal appearance, the influence of Millennials and Gen Z, and diversified distribution channels.
The beauty landscape is witnessing a remarkable shift towards sustainable products, with 63% of consumers deeming clean beauty as essential, signaling a preference for environmentally-responsible brands. The escalating demand for natural and organic cosmetics, supported by heightened consumer consciousness towards health and the environment, is evidently propelling market growth.
Investment in Personal Appearance Escalates
In an era where appearance is closely linked to self-esteem, consumers are increasingly willing to invest in enhancing their physical aesthetics. The industry continues to benefit from this trend, with average spending on cosmetic products and procedures reaching substantial heights annually.
Young Generational Cohorts Lead the Market Forward
Youth demographics, especially Gen Z, are becoming critical drivers for industry innovation, advocating for diversity and authenticity in beauty. Their early, technology-driven engagement with the cosmetics market is fostering a knowledgeable consumer base that actively contributes to industry growth through social media and other digital platforms.
Retail and Online Synergy Boosts Accessibility
While e-commerce continues to rise in prominence, with 66% of consumers purchasing makeup online, the in-store experience remains vital, with specialty beauty retailers maintaining a strong consumer base. The availability of various purchasing avenues, both online and offline, is further accelerating the market's expansion.
Notable Industry Movements
The United States cosmetics sector is comprised of leading companies that continue to innovate and expand their market presence. Recent developments include product launches that tap into the bond restoration trend, international retail expansion, strategic acquisitions to enhance skin beauty portfolios, and the introduction of technology-infused cosmetic solutions to counteract the digital age’s toll on skin health.
Market Segmentation Highlights
The market is segmented into product types ranging from skin and sun care to makeup and color cosmetics, catering to diverse consumer needs. Gender segmentation reveals tailored cosmetic solutions for men, women, and unisex groups. Distribution channels span from supermarkets and specialty stores to online sales, reflecting the dynamic retail landscape of the cosmetics industry.
Representative companies within the market, such as Coty Inc., Procter & Gamble, and The Estee Lauder Companies Inc., amongst others, have been analyzed from multiple perspectives, offering insights into overarching industry narratives, recent developments, and revenue analyses. The United States Cosmetics Market continues on an upward trajectory, marked by responsive adaptability to consumer demands and transformative industry practices.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $93.6 Billion |
| Forecasted Market Value (USD) by 2032 | $142.79 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | United States |
Companies Featured
- Coty Inc.
- Procter & Gamble
- The Estee Lauder Companies Inc.
- Colgate-Palmolive Company
- Johnson & Johnson Services Inc.
- Revlon Inc.
- Mary Kay Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tiwmpk
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