Report Overview

United States consumers’ increasing purchasing power, particularly among the females, and an increasing shift towards the use of makeup for personal grooming and self-expression are expected to drive the growth of US color cosmetics market at a steady rate during the forecast period between 2023 and 2029.

United States Color Cosmetics Market - Industry Trends & Forecast Report, 2029

The United States color cosmetics market size is projected to grow at a CAGR of 6.5% during the forecast period of 2023 and 2029. The market is flourishing at a steady rate owing to the rising purchasing power of consumers, especially among the female demographic along with an increasing shift towards the use of makeup for personal grooming and self-expression. Furthermore, expanding demand for vegan and cruelty-free color cosmetic brands due to rising consciousness is anticipated to provide significant growth opportunities to the market in the forecast period. Cosmetic brands are increasingly opting for online sales to target the younger demographic to boost their sales, which is also propelling the growth of the market.

United States Color Cosmetics Market

Growth Drivers

Availability and Launch of Wide Range of Products

According to data by Zippia Inc., the US consumes about one-fourth of the world's cosmetics. Earlier, the market had only limited products and limited color shades to offer that catered to only white skin tones. However, with growing demand and extensive market research by companies, the brands are increasingly launching new products with a wide range of shade that not only offers beauty but also skincare. Cosmetic brands are also now catering to men, launching color cosmetic products that suit their skin type. This is anticipated to propel the market growth in the forecast period.

Restraints

High Cost of Cosmetics Products in the US

Allure, a leading American women’s magazine, recently published a report stating that the price of cosmetics and perfumes has spiked up to 2.3% from July 2022 to August 2022 alone. This price surge is said to be the result of COVID–the pandemic and a significant gap in demand and supply gap. This may especially affect the market for prestige brands as they are already offering products at higher prices compared to drugstore cosmetics. This may act as a huge restraining factor for the growth of the United States color cosmetics market.

Impact of COVID -19 on the United States Color Cosmetics Market

The unprecedented COVID–19 pandemic outbreak negatively impacted the growth of the United States color cosmetics market. The demand for color cosmetics registered a significant decline post the lockdown due to the remote working culture and limited social interactions. Furthermore, consumers also shifted from makeup to skincare products that can improve their skin internally, which also affected the market negatively. However, the expanding scope of online sales is anticipated to provide better growth opportunities to the United States color cosmetics market as consumers are spending more time on their smartphones and can easily access a wide range of products through websites and brands.

United States Color Cosmetics Market

Segmental Coverage

United States Color Cosmetics Market – By Target Market

Based on the target market, the United States color cosmetics market is categorized into mass products and prestige products. The prestige product segment holds a higher market share in the United States color cosmetics market in 2022. According to the Vogue Business, prestige color cosmetics brands are attracting the gen–z demographic. These brands are increasingly launching products of the same price line as drugstores and are also making their products available in–stores, which is making them accessible to buyers.

United States Color Cosmetics Market – By Color Addictive

Based on color addition, the United States color cosmetics market is segregated into organic, synthetic dyes, lakes, botanicals, inorganic, and mineral compounds. The inorganic color addictive accounts for the highest market share. The manufacturers of pigments, which are used in these color cosmetics, often use various inorganic compounds such as iron oxides, titanium dioxide, and mica covered in titanium dioxide and bismuth oxychloride, due to its better stability and limited chemical reactions. However, the organic color addictive segment is anticipated to register high growth in the forecast period due to the market shift to natural ingredients.

United States Color Cosmetics Market – By Application

Based on application, the United States color cosmetics market is segmented into eye make-up, face make-up, lips products, nail products, and hair color products. Face making–up product holds the highest market share owing to the high demand for facial cosmetic products such as face foundation, concealer, color neutralizer, highlighter, and bronzer. The high prevalence of facial skin conditions such as acne, inflammation, and sunburn, is influencing the demand for face make-ups as these products are highly effective in covering these conditions.

United States Color Cosmetics Market – By Distribution Channel

Based on distribution channels, the United States color cosmetics market is segmented into online and offline. The offline segment is further classified into hypermarkets/supermarkets, specialty stores, and pharmacies. The online segment is also further categorized into brand websites and e-commerce. The offline segment dominates the United States color cosmetics market due to easy accessibility to products. A significant percentage of buyers prefer physical tests of cosmetics before buying. The Vogue Business estimates that over 90% of teenagers buy cosmetic products from offline stores.

Competitive Landscape

Major players operating in the United States color cosmetics market include Huda Beauty, Estee Lauder Inc., Coty Inc., Amway, Revlon, Inc, Anastasia, Beautycounter, Blinc, Danessa-Myricks beauty, Freck Beauty, Grande cosmetics, Hourglass, ILIA beauty, JLO beauty, Josei Maran, Jouer cosmetics, Makeup by Mario, Melt Cosmetics, and Milk Makeup. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In November 2022 - Fisk Industries, a US-based beauty product supplier, acquired Betty Beauty, a pubic hair dye brand.

Scope of the Report

By Target Market

• Mass Product

• Prestige Product

By Color Additive

• Organic

• Synthetic Dyes

• Lakes

• Botanicals

• Inorganic

• Mineral Compounds