NEW YORK, Nov. 16, 2020
NEW YORK, Nov. 16, 2020 /PRNewswire/ -- In 2019, there were 312.3 million internet users in the U.S., and their number is consistently increasing. This is one of the primary reasons the U.S. beauty and personal care products market is set to grow from $81.1 billion in 2019 to $128.7 billion in 2030, at a steady 4.8% CAGR during 2020–2030. For instance, the U.S. Department of Commerce estimates e-commerce to have accounted for 16.0% of all retail sales in the nation in 2019.
The growing e-commerce industry bodes well for the U.S. beauty and personal care products market, as fast-moving consumer goods (FMCGs), including beauty products, are some of the most-purchased commodities via online platforms. As a wide variety of beauty products, including clean beauty products and hyper-personalized skincare products, are available online at substantial discounts, people prefer to shop for such branded products on e-commerce websites. Thus, the easy availability of beauty products at reasonable rates has helped increase their penetration in the country, according to P&S Intelligence.
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The U.S. beauty products and personal care market has witnessed a mixed impact of the COVID-19 pandemic. On one hand, the sales of actual beauty products have reduced due to subdued manufacturing and supply, lower wages, and widespread unemployment. For instance, L'Oréal S.A. has recorded 4.8% lower sales in North America during the pandemic. However, the demand for toiletries, including soaps and sanitizers, has soared in the country, as regular washing of hands is being considered one of the best ways to protect oneself against the virus.
Browse detailed report with COVID-19 impact analysis on U.S. Beauty and Personal Care Products Market Research Report: By Type (Skin Care, Color Cosmetics, Hair Care, Baby Care, Bath and Shower, Oral Care, Men's Grooming, Deodorant, Sun Care, Fragrance, Depilatory), Distribution Channel (Marketplace Platform, Professional Health & Beauty Outlet, Club/Value Store, Brand Owner to Store/Franchise, Local Marketplace Platform, Brand Owner to Home, Specialist Marketplace Platform, Dermatologist, Social Commerce, New Cross-Category Distribution Point), Mode of Purchase (Traditional In-Store Shopping, Home Delivery, Subscription, Third-Party Delivery Service, In-App/Website, Butler Service, Live Auction, Click & Collect) - Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/us-beauty-personal-care-products-market
The marketplace platform category held the largest share in the U.S. beauty and personal care products market in the past, based on distribution channel. At such one-stop platforms, all types of beauty products are available at affordable rates, which is why these places are vastly popular among the American population. Additionally, the efficient distribution network of such marketplace platforms results in fast and smooth product deliveries, which attracts even more people to purchase from them.
In the coming years, the U.S. beauty and personal care products market is predicted to witness the most-rapid advance in the click & collect category, under segmentation by mode of purchase. In this mode, people pay for the products online and then collect them from a designated store. This mode saves the time of people otherwise spent in long queues at hypermarkets.
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Major firms in the U.S. beauty and personal care products market include L'Oréal S.A., Johnson & Johnson, The Procter & Gamble Company, Koninklijke Philips N.V., The Estée Lauder Companies Inc., Kimberly-Clark Corporation, Unilever Group, Coty Inc., Revlon Inc., Shiseido Company Limited, Oriflame Holding AG, and Avon Products Inc.
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