The U.S. personal care products market is expected to reach USD 134.2 billion by 2025, according to a new report by Grand View Research, Inc. According to the United States Census Bureau, residents aged 60 and above have been grown up from 35.0 million in 2000 to 49.2 million in 2016 accounting for 15.2% of the total population in 2016.
The U.S.’s millennial group is aging, the younger generations have a huge impact on the country’s personal care and beauty care industry. The young generation tends to spend a high amount on the skincare, color cosmetics, and other personal care products for ensuring their appearance matching with their social media presence. Nowadays, many new products are launched featuring botanical and natural ingredients across all cosmetics and personal care categories. For instance, Estee lauder have Aveda, it’s a botanical skin and hair care brand that offers products such as oils and shampoos with the natural and botanical ingredients.Few companies engaged in manufacturing of the personal care products are Johnson and Johnson, L’Oreal SA, Procter and Gamble, Unilever, Helen of Troy Limited, Colgate-Palmolive Company, Avon Products, Inc and Estee Lauder Companies Inc.
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Further Key Findings from the Study Suggest:
Increasing purchasing power of the millennials is primarily driving the growth of this market.
Significant players undertaking acquisitions and divestments to remain competitive and focus on natural ingredients products is boosting the market.
Skincare is the largest and the fastest growing segment owing to the factors such as increasing demand for the anti-aging products and increased consciousness among people.
Key players in the market include Johnson and Johnson, L’Oreal SA, Procter and Gamble, Unilever, Helen of Troy Limited, Colgate-Palmolive Company, Avon Products, Inc and Estee Lauder Companies Inc.
Grand View Research has segmented the U.S. personal care products market on the basis of product:
U.S. Personal Care Products Product Type Outlook (Revenue, USD Billion; 2014 - 2025)
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