United States Beauty and Personal Care Market to Grow at a CAGR of 5.13% in Forecast Period
The growing aging population and
increasing self-care trends due to social media penetration are driving the
United States beauty and personal care market.
According to TechSci Research report, “United
States Beauty & Personal Care Market By Product Type (Personal Care and Beauty
Care), By Distribution Channel (Specialty Stores, Departmental Stores, Hypermarket/Supermarket,
E-Commerce, Drug Stores and Others (Exclusive Stores,
Beauty Parlors/Salons, etc.) By Region, By Top 10 States, Competition Forecast
& Opportunities, 2026”, the United States beauty and personal
care market stood at USD80.43 billion in 2020 and is projected to reach USD106.61
billion by 2026 with a CAGR of 5.13% through 2026. Growth in the market can be attributed to rising
awareness related to hygiene and personal health, growing working females, and
evolution in the beauty industry. With the rise of social media and advanced
data analysis, brands can deliver increasingly relevant and targeted messages
to consumers. At present, social media is the major driving factor for the
beauty and personal care market since many brands are trying to contact
consumers via social media. In addition, brands have started their own YouTube channels, Instagram
accounts, and other social media apps to spread awareness among consumers related to beauty and personal care
products. Social media has not only given broader market reach to brands but
has also reinvented them.
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14 market data Figures spread through 70 pages and an in-depth TOC on "United States Beauty and Personal Care
Market"
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The United States beauty and personal care market consists of the
following segments, by product type, by distribution channel, by region, by top
10 states, and by company. In terms of product type, the United States beauty
and personal care market is divided into personal care and beauty care. The
personal care market is further segmented into skin care and hair care. Among
them, the hair care segment is growing at the fastest rate due to the growing
consumer focus towards hair styling and increasing use of hair care products
due to hair loss. Similarly, the beauty care market is further segmented into
makeup & color cosmetics, beauty tools & accessories, nail care, and
others (manicure & pedicure). Among them, beauty
tools & accessories segment is growing at the fastest rate in the beauty
care market due to the high penetration of makeup videos using beauty tools on
social media and increasing self-care concept among women. In terms of
distribution channels, the United States beauty and personal care market is
divided into specialty stores, departmental stores, hypermarket/supermarket, e-commerce,
drug stores and others. Among them, the e-commerce channel is the fastest
growing in the United States beauty and personal care market due to the wider
presence of beauty and personal care products on the e-commerce platforms of
various brands in the United States. Post COVID-19 pandemic, consumer shopping
preferences have also shifted and may continue to shift in the future from
traditional retail sales to e-commerce if the companies would not be successful
in the expansion of distribution channels including e-commerce in that case
companies would not be able to compete effectively.
In terms of region, the United States beauty and personal care market is
divided into South, West, Midwest, and Northeast. Among these, the Northeast
region of the United States is
the fastest-growing due to the increasing influence of using beauty products
from other states. Some of the major players operating in the United States
beauty and personal care market are L’Oréal
USA, Inc., Johnson & Johnson, Unilever USA, The
Estée Lauder Companies Inc., L Brands, Inc. & Others. To remain competitive
in the market companies are continuously involved in new product development
and launches, upgrading technology, mergers & acquisitions, involving a new
strategic alliance. For example, L’Oréal has introduced a “smart”
internet-connected hairbrush. This device assesses the users’ hair health and
routine while they brush and give customized recommendations. The hairbrush has
sensors that count strokes, assess whether the hair is dry or wet, and analyze
the brushing force. It also has a microphone that listens to the sound of
combing hair, to provide insights regarding manageability, fizziness, dryness,
split ends, and breakage.
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“The beauty industry is highly competitive and can change due to
changing consumer tastes and preferences and industry trends such as the
expansion of digital channels, new trendy brands, and advances in technology.
In the beauty industry, competition is based on various parameters including
pricing, value, quality, product efficacy, packaging and brands, speed and
quality of innovations and introduction of new products, promotional
activities, in-store presence and visibility, brand recognition, distribution
channels, advertising, editorial and adaptation of evolving technology.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“United States Beauty & Personal Care Market By Product Type (Personal
Care and Beauty Care), By Distribution Channel (Specialty Stores,
Departmental Stores,
Hypermarket/Supermarket, E-Commerce,
Drug Stores and Others (Exclusive
Stores, Beauty Parlors/Salons, etc.) By Region, By Top 10 States, Competition
Forecast & Opportunities, 2026” has evaluated the future growth potential
of beauty and personal care market in the United States 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 decision. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
present in the United States beauty and personal care market.
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