The U.S. beauty and personal care products market is projected to generate $128.7 billion revenue in 2030, attributed to the rise in the geriatric population and increase prevalence of skin diseases with the shift of consumer preference toward organic and chemical-free products. Moreover, an increase in expenditure on personal care products also propels the market of the country.
During the COVID-19 lockdown, the online channels contributed to massive sales of beauty products, as the stores remained shut. The highest consumption was witnessed by the toiletries, due to the increased awareness to prevent the contagious virus infection. Substantial growth was witnessed in the soaps, disinfectants, and sanitizers in sales. The demand for soaps and handwashes rapidly increased during the pandemic phase in the country.
Skincare holds the largest share of the U.S. beauty and personal care products market, and it is expected to retain the same position in the near future. The consistent rise in the millennial population in the workforce with the rise in demand for fashion products and entertainment services drive skin care products. Moreover, the rising desire of health and wellness-conscious consumers for skin care products with the growing interest in regimens and routines propels the demand for skin care products in the country.
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The easy availability of the easy-to-use and convenient home usage beauty products and devices propels the U.S. beauty and personal care products market. It includes products and devices that facilitate hair removal, hair growth, depigmentation, skin rejuvenation, and acne reduction. The demand for at-home beauty devices proliferates due to the surging availability of home-use solutions and dermatologically advanced technologies that offer higher efficiency and convenience to use. The market is also fuelled by a younger generation seeking products to keep youthful look long-lasting while the older generation seeks beauty products to mitigate aging signs.
The expansion in the e-commerce sector facilitates the industry to boom, attributed to a wide range of beauty products such as AI-driven cosmetic solutions, and hyper-personalized skin care products offered by the beauty retailers, as they seek to offer innovative solutions to improve the customers’ experience.