United States Cosmetics Market to be Dominated by Skin Care During the Forecast Period
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.
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