How Much Money Does The Average Buyer Spend On Makeup A Year
Research Summary. The cosmetics manufacture is one of the virtually valuable markets globally, and the United States is largely to give thanks for that. With more and more people across the nation ownership personal intendance and beauty products, the cosmetics industry is growing fast. Afterwards extensive inquiry, our data analysis squad found:
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Approximately $49.2 billion is generated by cosmetics sales in the U.s.a. each year.
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On average, Americans spend betwixt $244 and $313 on cosmetics every month.
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The global cosmetics industry is valued at $380.ii billion.
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The cosmetics industry is growing at a rate of v.three% each twelvemonth.
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Skincare products brand up 42% of the cosmetics manufacture, representing the largest segment of the market.
Cosmetics Industry Stats by: Consumers | Segments | Trends and Projections
Cosmetics Industry Statistics
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The American cosmetics and beauty market place is valued at $84 billion.
The dazzler and personal care market in the United States is worth approximately $84 billion. As such, the United States accounts for 22% of the value of the global cosmetics industry.
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Around 61% of all dazzler buyers followed cosmetics brands or visited a make on social media in June 2019, making social media engagement fundamental for cosmetics brands.
Social media is one of the leading ways customers discover cosmetics brands, allowing brands to plant trust with their customers and market their products accordingly.
It's estimated that 37% of shoppers typically discover out about new cosmetics brands or products through social media ads. About 33% detect out via recommendations and comments made on social media platforms.
In addition, 66% of customers discover brands on social media thanks to updates on the brand'southward social media pages, posts from skilful bloggers, and celebrity endorsements.
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In the Us, L'Oréal is the most valuable cosmetics company.
As of 2021, Fifty'Oréal generated an impressive $33.4 billion in annual acquirement. In addition, the multinational cosmetics company held twenty% of the cosmetics industry share in Western Europe.
Other leading cosmetics companies — which have controlled the marketplace, along with L'Oréal, since the early twentieth century — include Unilever, Procter Gamble Co., The Estee Lauder Companies, and Shiseido Visitor.
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In terms of social media user date, Huda Beauty and Kylie Cosmetics are the biggest cosmetics companies in the United States.
Co-ordinate to a 2019 survey, Huda Beauty has the highest social media user date volume with 246.37 million actions, while Kylie Cosmetics trailed closely behind with 215.24 million deportment.
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In the United States, facial and centre cosmetics represent the most assisting sections of the cosmetics and beauty industry.
In 2020, roughly $1.96 billion was generated from sales of eye cosmetics, and about $1.9 billion was generated from sales of facial cosmetics. Mascara was the most assisting production in the centre cosmetics segment, followed by eyeliners, eye shadows, and countenance makeup.
Meanwhile, Neutrogena makeup remover was the about profitable production in the facial cosmetics segment.
In addition, pilus care products represented 24% of the beauty manufacture, and sales of lip cosmetics products generated nigh 647.31 million.
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Although e-commerce sales continue to abound, many shoppers buy cosmetics and beauty products at retail stores.
When it comes to cosmetics sales, Ulta Beauty is the leading wellness and beauty retailer in the United States. In 2019, the chain beauty store generated approximately $7.four billion in retail sales.
Sephora, another popular beauty retail chain, was slightly backside Ulta, generating about $five.9 billion in retail sales that year.
Cosmetics Brands by Revenue (2018)
| Brand | Revenue (2018) |
|---|---|
| Johnson'southward | $fourteen.1m |
| Chanel | $11.5m |
| Fifty'Oreal Paris | $ten.7m |
| Gillette | $eight.1m |
| Neutrogena | $7m |
| Nivea | $6.9m |
| Dior | $6.3m |
| Clinique | $5.4m |
| Shiseido | $5.2m |
| Guerlain | $5.1m |
Cosmetics Industry Consumer Statistics
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Well-nigh one-fourth of the globe's cosmetics are bought by Americans.
North America deemed for 24% of the global cosmetics market place in 2020. Current numbers place the Asia Pacific as the largest consumer of cosmetics as a region.
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The men's global personal intendance and beauty manufacture is expected to be valued at $166 billion by 2022.
Although women may lead the cosmetics industry, men are ownership cosmetics more always earlier, and virtually 40% of adults are interested in gender-neutral dazzler and cosmetics products. In but the last twelvemonth, men's skincare products jumped in sales by 7%.
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Women spend, on average, $69 more than men each month on cosmetics.
According to a study commissioned by Groupon, American women spend, on boilerplate, $313 a calendar month on cosmetics, or $3,756 a year. Meanwhile, American men spend, on average, $244 a calendar month on cosmetics, or $ii,928 a year — 22% less than women.
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African American shoppers represent 86% of the ethnic beauty market.
According to Essence, African Americans spend $1.2 trillion on beauty and cosmetics products each year, and this twelvemonth, that number is expected to increase to $1.5 trillion.
In 2017, Black shoppers captured 86% of the indigenous beauty market place, generating $54 one thousand thousand in sales of the full $63 million. That same twelvemonth, Black customers also spent $127 million on grooming products and $465 million on skincare products.
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27% of young women never leave the house without makeup on.
Co-ordinate to a survey conducted by the Renfrew Eye Foundation, a nonprofit arrangement, young girls wear makeup before than always earlier. According to the survey results, 58%, or near three in five, of surveyed young girls aged eight to 18 wearable makeup.
In improver, of the girls who admitted to wearing makeup, 65% started using it between the ages of eight and thirteen, and 50% of them started using it between the ages of eleven and 13.
| Country | Beauty Products Spending (2018) |
|---|---|
| United states of america | $89.7B |
| Mainland china | $58.3B |
| Nihon | $36.9B |
| Brazil | $34.7B |
| Federal republic of germany | $19.1B |
| U.k. | $17.2B |
| India | $15B |
| France | $14.7B |
| South Korea | $12.8B |
| Russian federation | $11.4B |
Cosmetics Industry Segment Statistics
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Approximately 42% of the global corrective market is fabricated upward of skincare.
The sale of various skincare products represents just under half of the global cosmetics market. Just behind skincare, hair care products represent roughly 24% of the global market.
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Nearly 20% of the global corrective market is made upward of makeup.
Co-ordinate to Statista, makeup products represent 18.2% of the total global cosmetics market value.
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The global makeup market alone is estimated to exist worth approximately $85 billion.
Currently, makeup sales generate virtually $77.8 billion of the total $380.2 billion global cosmetics market. Makeup sales are expected to only increase as a growing number of people incorporate the use of lipsticks, concealers, foundations, bronzers, mascaras, and eyeliners into their everyday routines.
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Skincare and hair intendance products stand for nigh threescore% of the global cosmetics market place combined.
According to Statista, globally, skincare and hair care are leading the mode in the cosmetics manufacture. In 2015, skincare production sales in the U.S. alone generated virtually $16 billion. Meanwhile, in 2020, facial cosmetic sales generated $1.9 billion.
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The global anti-aging cosmetics market value sits at $38.62 billion.
Anti-aging products, especially those with anti-oxidizing elements like Vitamin C and E, are expected to abound in value by a CAGR of 5.8% in the coming years. Past 2026, the global anti-aging cosmetics industry is estimated to reach $lx.26 billion.
Cosmetics Manufacture Trends and Predictions
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The global cosmetics industry is expected to reach a value of $463.5 billion by 2027.
Over the next six years, the global cosmetics industry is expected to grow past $83.3 billion. As of 2019, the industry was valued at $380.2 billion, and current growth projections show that number will reach approximately $463.5 billion by 2027.
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From 2021 to 2027, the global cosmetics manufacture has a CAGR of 5.3%.
According to contempo growth models and predictions, the global cosmetics industry will expand at a compound annual growth rate, or CAGR, of v.three% between at present and 2027.
This growth charge per unit is largely tied to changing lifestyles, the increased apply of cosmetics products in modern lifestyles, and the ascension of men using cosmetics and beauty products in their daily routines.
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CBD-infused cosmetics are expected to grow past $2.22 billion through 2024.
According to PR Newswire, the CBD market is estimated to grow at a compound annual growth rate of 25% between now and 2024. Moreover, North America is slated to contribute to approximately 43% of the projected growth.
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Influencers command 60%+ of the YouTube dazzler content.
While brands have tried their best to command their own narrative in the past, it'south becoming articulate that influencers are the manner of the futurity. Consumers feel much more comfortable watching a "real person" using a product and giving honest feedback in existent time, rather than take a company tout the product'southward features.
Cosmetics Industry FAQ
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How is the cosmetics industry segmented?
The cosmetics manufacture is segmented into seven main categories. These include skincare products, pilus care products, makeup, perfumes, toiletries, deodorants, and oral intendance products. Skincare products remain the nearly profitable segment of the market, followed closely by hair intendance products.
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What is the cosmetics manufacture worth in 2021?
The nigh recent numbers bear witness that the global cosmetics industry is valued at approximately $380.2 billion. Due north America accounts for approximately 24% of the global cosmetics market, with the cosmetics industry in the United States currently valued at roughly $84 billion.
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Is the cosmetics industry growing?
Yes. Current projections identify the cosmetics industry every bit a 5.3% compound almanac growth charge per unit. At this stride, the market will exist worth roughly $463.5 billion past 2027.
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What is the largest cosmetics visitor in the earth?
The largest cosmetics company in the word is 50'Oreal. The French company registered an annual acquirement of $33.34 billion in 202. While Johnson & Johnson, Proctor Gamble, and Unilever are all bigger companies (by acquirement), their cosmetics divisions fall short of L'Oreal.
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Which land spends the most on cosmetics?
The Us spends the about on cosmetics. In 2018, US consumers spent a total of $89.71 billion on cosmetics. The adjacent highest country, China, but spent $58.26 billion — with about 4 times as many consumers.
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Is the cosmetics industry saturated?
Yeah, almost manufacture experts agree that the cosmetics industry is oversaturated. Even without existence an expert, anyone who'southward shopped for skincare products recently knows the insane number of options available at the store.
Every bit such, it'south incredibly difficult for a new make or product to gain traction without beingness a part of ane of the major cosmetics companies in the world.
Conclusion
Around the world and across the nation, the beauty and cosmetics industry continues to be profitable. Currently, the global cosmetics industry is valued at $380.2 billion, with the U.s. generating at least $49.2 billion in cosmetic product sales every twelvemonth.
Today, more than and more women and men are purchasing skincare products, hair care products, brand-up, perfumes, toiletries, deodorants, and oral intendance products. As such, the industry has no sign of slowing down.
In fact, it'south growing at a rate of approximately 5.3% every year. With the average American spending between $244 and $313 on cosmetics every month, the future of the cosmetics industry looks bright.
References
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Statista. "Cosmetics Manufacture In The U.S. — Statistics Facts." Accessed on August 31, 2021.
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Allied Market Research. "Cosmetics Marketplace By Category, Gender And Distribution Channel: Global Opportunity Assay And Industry Forecast, 2021-2027." Accessed on August 31, 2021.
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New York Postal service. "Vanity Costs American Women Nearly A Quarter Of A Million Dollars." Accessed on August 31. 2021.
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Statista. "Cosmetics Consumer Behavior In The U.S. — Statistics Facts." Accessed on August 31, 2021.
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We Are Social. "How Social Media Is Reshaping The Beauty Manufacture." Accessed on August 31, 2021.
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Statista. "Corrective Sales In The U.s. In 2020, Past Segment." Accessed on August 31. 2021.
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Statista. "Global Makeup Marketplace Size 2012-2025." Accessed on August 31, 2021.
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CNBC. "Men Are A MultiBillion Dollar Growth Opportunity For The Dazzler Industry." Accessed on Baronial 31, 2021.
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Fortune Business Insights. "Anti-Crumbling Cosmetics Market Size, Share Manufacture Analysis, By Product Type, Production Form, Terminate-User, Distribution Channel, And Regional Forecast, 2019-2026." Accessed on August 31, 2021.
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PR Newswire. "From Barbies To Blush — New Survey Reveals Young Girls Are Wearing Makeup Earlier Than Ever To Hide Their Insecurities." Accessed on August 31, 2021.
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Essence. "Characteristic: The Industry That Black Women Built." Accessed on Baronial 31, 2021.
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PR Newswire. "Global CBD Infused Cosmetics Marketplace: $two.22 Billion Growth Expected During 2020-2024." Accessed on Baronial 31, 2021.
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Statista. Distribution of dazzler content views on YouTube equally of Baronial 2018. Accessed on December 20, 2021.
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Statista. Consumption value of beauty products worldwide in 2018, by leading land. Accessed on Dec twenty, 2021.
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Source: https://www.zippia.com/advice/cosmetics-industry-statistics/
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