Cosmetics Market is Expected to Undergo a Rapid Growth Through 2025
Growing awareness towards personal appearance and presence of
leading cosmetic brands are some leading factors fostering the growth of United
States cosmetics market.
According
to TechSci Research report, “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, Forecast & Opportunities,
2025”, the market is anticipated to
undergo a robust CAGR during the forecast period on account of growing
awareness towards fashion & beauty among both women and men in the country.
Also, presence of leading cosmetic brands makes United States a leading market.
The increasing inclination of consumers towards personal wellness is also creating
high demand for cosmetics in the country. Moreover, increasing per capita
expenditure on personal grooming products as well as increasing demand for
natural cosmetics is acting as some key growth factors for United States
cosmetics market.
Additionally, manufacturers are also focusing on
launching new cosmetic products in order to meet the growing demand and
increase their customer base. The market is also witnessing the growing trend
of organic cosmetics. Similarly, consumers in United States tend to prefer cosmetic
products with the label 'cruelty-free'. This is further pushing the cosmetic
brands to ensure that no animals were harmed during the product testing. Moreover,
increasing number of beauty clinics and salons are also adding to the growth of
United States cosmetics market. Also, the rise in demand for skin and sun care
products owing to varying climatic conditions are also expected to accelerate
the market growth in coming years.
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United
States cosmetics market is segmented based on type, demography, distribution
channel and region. Based on type, the market can be segmented into skin care,
hair care, bath & shower products, makeup & colour cosmetics and
fragrances & deodorants. Among them, the makeup and colour cosmetics
segment is expected to undergo high CAGR during the forecast period. The
reasons can be attributed to growing fascination of women consumers towards
makeup as well as availability of variety of makeup brands to choose from.
Based
on distribution channel, the United States cosmetics market can be segmented
into online and offline channels. The offline segment is further categorized
into supermarkets/hypermarkets, exclusive retail stores, beauty parlors/salon,
multi branded and retail stores. Among them, the online segment is anticipated
to witness fastest growth owing to thriving e-commerce industry and popularity
of online giants like Amazon in United States.
Major players operating in the United
States cosmetics market are L’ORÉAL, Huda Beauty,
UNILEVER Plc, ESTÉE LAUDER, PROCTER & GAMBLE, LVMH, Kylie Cosmetics,
Chanel, Dior and Guerlain. Key growth strategies being adopted by leading
market players are new product launches, collaborations and mergers &
acquisitions. The companies are also focusing on using non-chemical based
ingredients in their cosmetic products.
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“The cosmetic industry is witnessing a burgeoning
growth in United States and is also witnessing entry of new market players. The
increasing purchasing power of consumers is also creating high demand for
luxury cosmetic products in the country. Apart from this, companies are now
targeting on increasing men consumer base and hence are introducing cosmetic
products, especially formulated for men. With growing sense of personal
appearance among both men & women, the market is poised to undergo a
significant growth through 2025,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based United States 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, Forecast & Opportunities,
2025” has
evaluated the future growth potential of cosmetics market and provides
statistics & information on market size, structure and future market
growth. The report intends 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 in United States cosmetics market.
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