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The US - color cosmetics market size is estimated to grow at a CAGR of 4.64% between 2022 and 2027. The market size is forecast to increase by USD 3.17 billion. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Increasing online retailing is the key factor driving the growth of the market. The proliferation of the Internet and the increased availability of smart devices have increased consumer access to online shopping platforms. Additionally, the convenience of online shopping and enhanced security features of e-commerce platforms are driving the growth of the US color cosmetics market. Moreover, manufacturers and retailers have a huge market potential in this country. These advantages create favorable distribution channels for color cosmetics in the US and are expected to drive market growth during the forecast period.
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The advent of social media and celebrity endorsements is the primary trend in the market. Many consumers in the US - color cosmetics market are active on multiple social media platforms. Many consumers spend time on social networks and blogs to learn about personal and beauty care products. Nailed Blog, a nail art blog, has always dominated the online discussion forum for nail color brands. Such blogs can help expand the reach of a particular brand.
Moreover, such platforms can help to increase demand for a particular brand, educate potential customers about the brand, and identify key targets. Therefore, the strong influence of social media on consumer purchasing power is expected to increase the demand for color cosmetics in the US during the forecast period.
Increased availability of counterfeit products is a challenge that affects the growth of the market. The US-colored cosmetics market is characterized by a high volume of counterfeit products. The sale of counterfeit products affects the sales of established brands and their general brand value. Many counterfeit products are made with low-quality raw materials, which leads to low prices. Counterfeit products contain harmful ingredients such as mercury, lead, cyanide, and arsenic.
Additionally, counterfeit products are mainly distributed through online sales channels. Such counterfeit products imply competition with existing brands in terms of price and functionality, which will negatively impact the sales of major players in the US color cosmetics market and impede the market growth during the forecast period.
The offline segment is estimated to witness significant growth during the forecast period. The growth of the retail industry and the establishment of a large number of retail stores have increased the sales of color cosmetics in the offline segment. These retailers offer consumers a wide range of products and the convenience of finding everything under one roof. The number of offline sales channels is increasing in the US, and this trend is expected to continue.
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The offline segment was the largest segment and was valued at USD 7.52 billion in 2017. Consumers are increasingly purchasing a variety of color cosmetics from offline stores due to lower prices and a more comfortable shopping experience owing to the in-store atmosphere and displays. Furthermore, in the offline sales channel segment, specialty stores, wholesalers, and drugstores are the main offline retailers offering color cosmetics. Therefore, such factors will propel the market growth during the forecast period.
With the spread of the Internet and smartphones, online shopping has become more popular. A wide range of color cosmetics are available online in different categories, price ranges, and brands. Online platforms such as E-Retail, Amazon.com Inc., myGREENkart, nice shops, and companies with their own websites are increasingly focusing on the sale of color cosmetics. Additionally, e-commerce providers allow consumers to compare and collect information about color cosmetics and provide them with a platform to provide valuable feedback about products through reviews and ratings. Therefore, such factors will propel the market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The US color cosmetics market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
US Color Cosmetics Market Scope |
|
Report Coverage |
Details |
Page number |
134 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.64% |
Market growth 2023-2027 |
USD 3.17 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.38 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beiersdorf AG, Chanel Ltd., Coty Inc., Dambiro de, Danessa Myricks Beauty LLC, Glossier Inc., Grande Cosmetics LLC, HB USA Holdings Inc., Johnson and Johnson, Kao Corp., LOreal SA, LVMH Moet Hennessy Louis Vuitton SE, Natura and Co Holding SA, Oriflame Cosmetics S.A., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies, The Procter and Gamble Co., Ulta Beauty Inc., and Unilever PLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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