U.S. Beauty Products Market Set to Generate Over $120.0 Billion Revenue by 2030 | Johnson & Johnson, Coty Inc., L’Oréal S.A., Unilever Group, Koninklijke Philips N.V.

The U.S. beauty products market had a valuation of $81.1 billion in 2019 and it is predicted to advance at a CAGR of 4.8% between 2020 and 2030. Furthermore, the market is predicted to generate a revenue of $128.7 billion by 2030. The surging population of geriatric people, the rising incidence of skin diseases, and the soaring personal care spending are the major factors fueling the expansion of the market.

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Additionally, the boom in the e-commerce industry is also fueling the progress of the market. The growing popularity of online shopping and the surging e-commerce sales have revolutionized the beauty industry over the last few years. According to various reports, there were 312.3 million internet users in the U.S. in 2019. As e-commerce platforms provide several lucrative discounts and offers, their growing popularity is propelling the sales of beauty products in the country.

Apart from the above-mentioned factors, the soaring population of geriatric people and the increasing number of working women in the country are also fueling the advancement of the U.S. beauty products market. Depending on type, the market is classified into skin care, color cosmetics, hair care, baby care, oral care, bath and shower, men’s grooming, deodorant, sun care, depilatory, and fragrance categories. Out of these, the skin care category recorded the highest growth in the market in the past years.

This was because of the huge requirement for beauty products, especially among the younger people, in the country. Moreover, the labor force of the country is dominated by millennials and there has been a massive rise in the popularity of skin care products among these individuals over the last few years. Furthermore, the surging geriatric population and the rising requirement for skin disease treatments are pushing up the demand for beauty and personal care products in the country.

When distribution channel is taken into consideration, the U.S. beauty products market is categorized into marketplace platform, professional health and beauty outlets, club/value store, brand owner to store/franchise, local marketplace platform, brand owner to home, specialist marketplace platform, dermatologist, social commerce, and new cross-category distribution point. Amongst these, the marketplace platform category, that consists of platforms such as Walmart and Amazon, registered the highest revenue growth in the market during the last few years.

This was because these platforms provide a one-stop solution that allows customers to buy various beauty products at highly affordable prices. Furthermore, these organizations have developed a robust distribution channel all over the country, which has made the faster and timely delivery of beauty products possible. This has, in turn, expanded the customer pool of many beauty brands and companies operating in the U.S., as per the observations of P&S Intelligence, a market research company based in India.

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Hence, it is safe to say that the market will demonstrate huge expansion in the coming years, primarily because of the growing incidence of skin diseases, the surging population of geriatric people, and the growth of the e-commerce industry in the country.

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This release was published on openPR.