US Cosmetics Market Size (2018–2029)
Beauty and personal care is one of the top online shopping categories in the United States in 2024, with total revenues expected to hit $28.4 billion.
The multibillion-dollar sector makes launching a beauty brand extremely attractive, and knowing key industry statistics allows aspiring entrepreneurs to better gauge business opportunities. If you’re thinking about starting a cosmetics skin care brand, here’s a breakdown of the US cosmetics market size to help you understand the market.
US cosmetics market size: 2018–2029
|
Year |
US cosmetics market size |
Annual change |
|
2018 |
$16.47 billion |
|
|
2019 |
$17.03 billion |
+3.4% |
|
2020 |
$13.64 billion |
-19.9% |
|
2021 |
$14.77 billion |
+8.3% |
|
2022 |
$18.01 billion |
+21.9% |
|
2023 |
$19.43 billion |
+7.9% |
|
2024 |
$20.13 billion |
+3.6% |
|
2025 |
$20.85 billion |
+3.6% |
|
2026 |
$21.59 billion |
+3.5% |
|
2027 |
$22.50 billion |
+4.2% |
|
2028 |
$23.12 billion |
+2.8% |
|
2029 |
$23.60 billion |
+2.1% |
US cosmetics market size in 2025
Recent data on the US cosmetics market size shows that the industry is forecast to generate $20.85 billion in revenues in 2025. This marks a 3.6% annual increase, holding steady from 2024.
Cosmetics also represent the third-largest segment of the entire US beauty industry in terms of revenues. It follows personal care and skin care, whose revenues are expected at $46.33 billion and $25.08 billion, respectively.
With the exception of 2020, the expected growth rate of the US cosmetics market size in 2025 is a slowdown compared to many of the earlier years in the decade. For instance, in 2021, the market grew by 8.3%, more than double the growth rate expected in 2025. The year after, revenues skyrocketed 21.9%, the largest annual growth industry analysts expect between 2018 and 2029. This was followed by a 7.9% expansion in 2023.
Apart from a 19.9% plunge in 2020, a result of the economic impact of the COVID-19 pandemic, the US cosmetics market size has generally been growing year after year since 2018. This means that the US cosmetics market’s annual revenues have increased by $4.38 billion since 2018, which is a 26.6% overall rise and an average annual growth rate of 4.1%.
US cosmetics market size: 2026–2029 forecast
Analysts expect annual revenues from the US cosmetics market to continue growing for a few more years.
In 2026, a growth rate of 3.5% is predicted, which will take total revenues to $21.59 billion. This is forecast to rise by another 4.2% and 2.8% in 2027 and 2028, respectively, to $22.5 billion and $23.12 billion.
In 2029, the US cosmetics market size is predicted to be worth $23.6 billion, growing 2.1% from the previous year.