US Personal Care Industry (2018–2029)
In 2024, beauty and personal care is expected to rank among the top online shopping in the United States, with sales forecast at $28.4 billion. By experts’ estimations, sales in this category will continue to grow every year until at least 2028.
This makes starting an online business in this sector extremely attractive. But given the immensity of the beauty industry, you may want to consider starting small and focusing on a specific niche, such as personal care.
Here’s a breakdown of the US personal care industry and its performance over the years.
US personal care industry: table
|
Year |
US personal care industry revenues |
Annual change |
|
2018 |
$40.57 billion |
|
|
2019 |
$41.30 billion |
+1.8% |
|
2020 |
$41.43 billion |
+0.3% |
|
2021 |
$42.03 billion |
+1.4% |
|
2022 |
$43.29 billion |
+3.0% |
|
2023 |
$44.70 billion |
+3.3% |
|
2024 |
$45.52 billion |
+1.8% |
|
2025 |
$46.33 billion |
+1.8% |
|
2026 |
$47.14 billion |
+1.7% |
|
2027 |
$48.02 billion |
+1.9% |
|
2028 |
$48.79 billion |
+1.6% |
|
2029 |
$49.31 billion |
+1.1% |
US personal care industry: 2018–2025
According to the latest data, the US personal care industry has generally been increasing over the past few years. In 2018, revenue from the US personal care industry registered at $40.57 billion. As the biggest revenue-generating category in the overarching beauty industry, personal care products accounted for 47% of overall sales generated from the beauty sector in 2018. In other words, nearly $1 out of every $2 spent on beauty items that year was on personal care products.
The following year saw annual revenues from the US personal care industry rise by 1.8%, to $41.3 billion. A year later, US personal care industry revenues held relatively steady, growing by a fractional 0.3%, to $41.43 billion.
In 2021, growth accelerated and revenues increased past $42 billion. This was followed by annual growths of around 3% in 2022 and 2023, as revenues hit $43.29 billion and $44.7 billion, respectively. Growth rates are forecast to fall to 1.8% the subsequent two years, which will take total revenues to $46.33 billion by 2025.
US personal care industry: 2026–2029 forecast
The annual growth rate of the US personal care industry from 2026 is set to decelerate slightly from that of the previous years. Experts expect the sector to increase its revenues by 1.7% in 2026, to $47.14 billion.
Analysts predict that the US personal care industry will continue its growth trajectory in the coming years, albeit at a modest pace. In 2027, the industry is projected to reach $48.02 billion in revenues, reflecting a growth rate of 1.9%. The following year, in 2028, revenues are expected to rise to $48.79 billion, with a slightly lower growth rate of 1.6%. By 2029, the sector's revenues are forecast to grow by 1.1%, reaching $49.31 billion.
The personal care sector is forecast to continue to be the largest segment of the US beauty industry. At $49.31 billion, its expected revenues by 2029 are still expected to be much higher than those of other subcategories, such as skin care ($27.79 billion), cosmetics ($23.6 billion), and fragrances ($9.57 billion).
Even though personal care will continue to hold the lion’s share of the beauty industry’s sales in the coming years, its share is set to decline. In 2029, the personal care sector is expected to make up 44.1% of total beauty sales—2.9 percentage points lower than its share in 2018.