Beauty and Personal Care Products Market Size, Share, Growth Analysis, By Products(Skincare, Haircare, Makeup, Fragrance), By Distribution Channels(Supermarket, Speciality stores, Drug Stores and Online), By Region - Industry Forecast 2024-2031

Global Beauty and Personal Care Products Market size was valued at USD 0.52 trillion in 2022 and is poised to grow from USD 0.56 trillion in 2023 to USD 1.02 trillion by 2031, at a CAGR of 7.8% during the forecast period (2024-2031).

For millennials, beauty and personal care goods like skin care, colour cosmetics, and hair care are becoming an essential element of everyday grooming. The market has been growing as natural, non-toxic, and organic cosmetics have been introduced. accessibility of these cosmetic products through a variety of sales channels, including specialty shops, pharmacies, and beauty salons. Also, it is projected that there will be significant growth prospects due to the growing emphasis that male consumers are placing on skin care and grooming in order to improve their physical appearance and better take care of their skin. An increase in research and development expenditures for innovative and useful products is also encouraging for market expansion. Beauty and personal care products has significantly increased. The availability of several brands across product categories, combined with rising income levels, has raised consumer awareness of beauty and personal care.

In addition, the market sells a wide variety of goods, including, among other things, male toiletries, deodorants, skincare, bath and shower items, and colour cosmetics. The number of people living to relatively later ages has significantly increased because to technological and medical advancements. As a result of population distribution that is tilted towards the older generation, Western countries must deal with the medical, financial, and social repercussions years. As a result, there is a sizable market for consumer goods, particularly for people in their fifties and sixties. The skin can be negatively impacted by a number of chemicals used as ingredients in cosmetics and personal care products. Similar to this, prolonged and intensive use of haircare products containing harsh chemicals can cause a variety of hair issues, including hair loss, early greying, and dry and lifeless hair. One of the key problems restricting the expansion of conventional beauty and personal care products is the growing consumer knowledge of the potential adverse effects of using such products.

US Beauty and Personal Care Products Market is poised to grow at a sustainable CAGR for the next forecast year.