Revenue of the cosmetic & beauty industry in the U.S. 2002-2022

This statistic depicts the total revenue of the cosmetic industry in the United States from 2002 to 2022. The revenue of the U.S. cosmetic industry is estimated to amount to about 49 billion U.S. dollars in 2022.

Cosmetics

Since the early twentieth century, the production of cosmetics has been controlled by a handful of multi-national corporations. The global cosmetics industry is broken down into six main categories; skin care being the largest one out of them all, accounting for 41 percent of the global market in 2021.

In recent years, consumers have been spending higher levels of disposable income on cosmetics than they had in the past. Unfortunately, the global financial crisis put a damper on the market for some years, making more affordably priced merchandise and do it yourself at home products key in the beauty market. However, as of 2020, the average annual expenditure on cosmetics, perfume and other personal care products among U.S. consumers increased slightly, to approximately 199 U.S. dollars. Skin care products such as facial cleansers were among the cosmetic products with the highest number of unit sales in the United States, proving the growing success of the category.

In the coming years, global cosmetic companies will continue to focus their efforts on product innovation in order to attract new consumers and keep existing consumers loyal to specific brands.