Mass beauty care in the US: Key market research findings
- Product innovation drives growth in the market
- Hair care segment accounts for majority of the market’s revenue
- Key vendors – Coty, Estée Lauder, Johnson & Johnson, L’Oréal, P&G, and Unilever
Technavio’s market research analysts predict the mass beauty care market in the US grow at a CAGR of almost 3% between 2016 and 2020. The demand for mass beauty care products in the region is augmented by product innovation through technological advancements. Consumers are increasingly on the lookout for more efficient and novel products that are better-suited for their requirements and lifestyle. Vendors are also introducing technologically advanced products that may be priced slightly higher than the regular ones in order meet this increasing demand.
The new market research report from Technavio presents a breakdown and analysis of the mass beauty care segments based on the product category.
“In this market, consumers are moving towards the use of natural and herbal hair coloring agents that are ammonia-free. There is also a growing demand for organic and natural deodorants. Consumers are paying more attention to ingredients in the products, preferring natural and organic ones over those that contain chemicals or ingredients that could cause harmful side effects,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
During 2015, the hair care segment dominated the mass beauty care market in the US by accounting for almost 38% of the overall market share. In this market, products like shampoos and conditioners are the major revenue generators. Customers are also seeking innovative products that can perform multiple or specific functions such as hair loss protection, dandruff protection, moisturization, anti-breakage, scalp protection, and sun protection. As a result, vendors are investing largely in the development of improved, multifunctional products.
The key vendors in the mass beauty care market in the US include Coty, Estée Lauder, Johnson & Johnson, L’Oréal, P&G, and Unilever. This market is marked by the presence of both national and international vendors. Owing to the ongoing trend of online retailing, all these vendors have started their online platforms to maximize their sales and extend their customer base. The market is primarily dominated by three players including P&G, L’Oréal, and Unilever, who are top-ranked beauty brands and offer a wide range of product lines. However, with the growing demand for organic and herbal beauty products, several small players are expected to gain market shares over the next four years.
A more detailed analysis is available in the Technavio report, Mass Beauty Care Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
