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U.S. Personal Care Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The US personal care products market was estimated at USD 449.9 billion in 2022 and is projected to register a CAGR of 4.3% over the forecast period. The US personal care products market is expected to be driven by the growing demand for natural and organic products in the country, owing to the increasing consumer awareness about the potential health benefits of organic products. The rising number of working women, increasing disposable incomes, and growing consumer preference for premium products are some of the factors driving the US personal care products market.
The growth in the market is further propelled by the rising trend of fashion and styling across the country, especially among young adults. The increasing number of male grooming products, such as beard oil, shaving creams, and colognes, is also expected to fuel the growth of the US personal care products market. Moreover, the growing popularity of organic and natural products, such as natural shampoos, conditioners, body oils, and soaps, is driving the market.
In addition, the increasing demand for sun protection products, such as sunscreens and sunblocks, is anticipated to drive the growth of the US personal care products market. Furthermore, the rising trend of athleisure and fitness, along with the growing awareness about skin protection, is anticipated to fuel the demand for such products. Moreover, an increase in the number of health-conscious consumers is expected to drive the market.
The development of new products, such as organic and natural personal care products, is expected to increase the consumer base in the US personal care products market in the coming years. For instance, in October 2021, Unilever launched Love Beauty and Planet, a range of natural and organic beauty products, in the US. The range includes shampoos, conditioners, and body washes, with natural and organic ingredients. Furthermore, the increasing trend of customization of personal care products is expected to fuel the demand for such products. The rising consumer spending on personal care products is also anticipated to drive the market growth.
Product Insights
The skin care segment led the market and accounted for a share of around 42.0% in 2022. Rising awareness among consumers regarding personal hygiene and grooming globally has been driving the demand for personal care products over the years. According to a survey conducted by the Personal Care Products Council (PCPC) in June 2019, nearly two-thirds of Americans (62%) say they are more likely to buy cosmetics products from companies that are committed to being sustainable. In addition, macro-level factors such as rising disposable income among consumers and mushrooming growth of distribution channels are bolstering the demand for personal care products worldwide.
The oral care segment is anticipated to expand at the fastest CAGR of 5.9% over the forecast period. Growing demand for toothpaste, toothbrushes, and dental floss, rising awareness about oral hygiene, and the emergence of various oral care brands are some of the key factors driving the oral care market growth revenue. According to a survey conducted by the American Dental Association, in December 2019, nearly 70% of Americans brush their teeth twice a day. In addition, increasing fashion trends and beauty awareness among individuals is another factor driving the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 34.8% in 2022. The growth of the segment is mainly driven by the increasing consumer inclination towards supermarkets & hypermarkets as a primary source to purchase beauty and personal care products. According to a study conducted by the NPD Group in 2020, supermarkets and hypermarkets offer more convenience to customers who want to purchase more than one product in a single trip. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required skincare product.
The drugstores/pharmacies segment is anticipated to expand at the highest CAGR of 11.5% over the forecast period. Drugstores/pharmacies are expected to be the fastest-growing distribution channel for personal care products. Drugstores/pharmacies are the most preferred choice for consumers who are seeking advice on the usage of the products. Moreover, drugstores/pharmacies offer a wide range of personal care products with a wide array of options to choose from. Companies are focusing on developing innovative products to stay ahead of their competitors in this channel. For instance, in August 2020, Unilever introduced new products in the U.S. drugstores/pharmacies such as Axe Dark Temptation, Dove Men+Care Fresh & Clean, and Caress Mystique Forever.
Type Insights
The U.S. personal care products market is bifurcated into the mass and premium segments. The mass segment is projected to account for the largest revenue share of 74.7% in the year 2022. The increase in the demand for mass products is attributed to the rise in the consumer preference for natural and organic products. Furthermore, the growing demand for eco-friendly, sustainable, and natural products is driving the growth of the mass segment. For instance, in January 2021, Unilever introduced a sustainable range of personal care products, called “Love, Beauty, and Planet.” This range of products is made up of 94% naturally derived ingredients, and the packaging is made of 100% recycled plastic.
The premium segment is expected to expand at the highest CAGR of 8.8% during the forecast period. The surge in the demand for premium products is attributed to the growing awareness about the benefits of natural and organic products, as well as the increasing disposable income of the population. Furthermore, the growing popularity of premium products among the youth population is driving the demand for these products. For instance, in April 2020, L’Oreal launched a new skincare line, called ‘L’Oreal Paris Age Perfect Hydra Nutrition,’ in the U.S. market. This product line is aimed at helping older women to maintain their youthful skin.
Regional Insights
The U.S. personal care products market is expected to witness significant growth over the forecast period. The country is home to leading companies in the personal care products industry, including Procter & Gamble, Johnson & Johnson, Unilever, and Estée Lauder. Furthermore, increasing focus on personal hygiene and beauty through rising awareness among consumers is expected to drive the growth of the market. Moreover, a surge in the demand for organic products due to rising environmental concerns is also expected to propel the industry.
The U.S. is expected to witness the highest growth over the forecast period. Increasing availability of personal care products through online and offline sales channels is expected to further drive the growth of the market. Furthermore, an increase in disposable income of consumers is expected to create a wide range of opportunities for the industry players. Moreover, prominent companies in the region are investing in research and development activities to develop innovative products, which is expected to further drive the growth of the market.
Financial Projections
In this part of the U.S. Personal Care Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your U.S. Personal Care Products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a U.S. Personal Care Products business comes from the sale of products, wholesale and retail sales, subscriptions, and advertising. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, sponsorship, partnerships, and royalties.
Projecting Expenses
In this section, all the regular expenses related to keeping the U.S. Personal Care Products business running will be described. The list of operating expenses includes manufacturing costs, packaging and labeling, wages, inventory costs, shipping and handling, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the U.S. personal care market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In April 2022, Procter & Gamble Co. (P&G) launched a line of eco-friendly personal care products.
– In May 2022, Unilever launched its latest line of personal care products, which contain natural ingredients.
– In July 2022, Johnson & Johnson launched a new line of natural and organic personal care products.
Some of the prominent players in the U.S. personal care market include:
– Procter & Gamble Co.
– Unilever
– Johnson & Johnson
– L’Oréal SA
– Beiersdorf AG
– Kao Corporation
– Estée Lauder Companies, Inc.
– Reckitt Benckiser
– Church & Dwight Co., Inc.
– Avon Products, Inc.
Global U.S. Personal Care Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. personal care products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Skin Care
– Hair Care
– Beauty Products
– Oral Care
– Fragrances
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Pharmacies & Drug Stores
– Specialty Stores
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– U.S.
– Canada
– Mexico
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the US Personal Care Products Market?
[A]: The US personal care products market is expected to witness a surge in product innovation over the forecast period. Companies are investing in research and development to introduce products that meet the needs of the consumers. The demand for natural and organic products is also increasing in the US, which is driving companies to introduce innovative products.
[Q]: Who are the Key Players in the US Personal Care Products Market?
[A]: Key players in the US personal care products market include Procter & Gamble, Unilever, L’Oréal, Colgate-Palmolive, Johnson & Johnson, and Avon Products.
[Q]: What are the Factors Driving the US Personal Care Products Market?
[A]: Factors such as the increase in disposable incomes, the growing demand for natural and organic products, the rise in the number of working women, and the growing awareness of personal hygiene are driving the US personal care products market.
[Q]: What are the Major Segments in the Personal Care Products Market?
[A]: The major segments in the US personal care products market include skin care, hair care, oral care, and others.
[Q]: What are the Opportunities for Growth in the US Personal Care Products Market?
[A]: There are several opportunities for growth in the US personal care products market, such as the development of innovative products, increased focus on natural and organic products, and expansion of the product portfolio. The rise in the number of working women and the growing awareness of personal hygiene are also contributing to the growth of the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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