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.
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.
Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/us-beauty-personal-care-products-market/report-sample
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 beauty products market in U.S. 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.
Out of these, the skin care category recorded the highest growth in the market during the last few years. This was because of the huge requirement for beauty products among the younger people in the country. This further boosted the demand for skincare products. Apart from these factors, the presence of a large geriatric population and the high demand for skin disease treatments also contributed to the expansion of the category in the past years.
One of the major trends currently being witnessed in the U.S. beauty and personal care products market is the growing preference of people for convenient and easy-to-use at-home beauty products and devices for acne reduction, hair growth, de-pigmentation, skin rejuvenation, and hair removal, on account of their easy and abundant availability. Moreover, the industry for at-home beauty devices is progressing rapidly, because of the rising availability of dermatologically advanced technologies and home-use solutions that offer high efficiency and convenience.
Thus, it can be said with surety that the sales of beauty and personal care products will shoot-up in the U.S. in the forthcoming years, primarily because of the rising prevalence of skin problems, the surging geriatric population, and the availability of various at-home beauty devices in the country.