Exploring the US Beauty Market - Bespoke Advantage
Loading

Exploring the US Beauty Market

The US is the largest beauty market in the world – little surprise considering the size of its population, and the number of states. It is estimated to be worth $93.74 Billion in 2024 and anticipated to reach $106.74 billion by 2029, growing at a CAGR of 2.63% between 2024 and 2029 with a growing emphasis on both online and offline sales. Strong growth is driven by successful online retailers including Amazon, which is key to the launch of many international brands in the US, and key trends including:

  • Ingredient-Led Beauty: There is a focus on clean, safe ingredients and conscious beauty choices, driven by social media education. Consumers prioritize specific ingredients for targeted results and are willing to invest in products that align with their beauty goals.
  • Inspiring Inclusivity: Brands are pioneering inclusive design with Braille packaging and raised graphics, making personal care more accessible, as highlighted in the Makeup in New York 2023 event.
  • Promoting Wellness: Brands are marrying beauty with mental health, highlighting holistic self-care, diversity, and inclusivity with products suitable for all skin types and tones.
  • Carbon Capturing & Utilisation (CCU): Eco-friendly practices in beauty are on the rise, with brands converting carbon emissions into recyclable materials for packaging, reducing waste, and meeting growing consumer demand for sustainability.

This is a highly competitive market with major players including Estée Lauder, L’Oréal, and Unilever who through continuous innovation and acquisitions strive to meet constantly changing consumer demands. In addition to these global players, the US is also home to successful indie beauty brands.

New York City-based YouTuber Liah Yoo founded Krave Beauty after feeling inundated by the overwhelming skincare advice online. Central to Krave Beauty’s ethos is sustainability, a focus Liah embraced upon realising the environmental toll of excessive skincare consumption. The brand is a proud member of the 1% For The Planet initiative, with packaging made from post-consumer recycled materials.

Milk Makeup is a New York City-based brand that was born out of the iconic Milk Studios. The formulas deliver long lasting results, key to their success. This brand has also entered the UK and is now selling in Boots, Cult Beauty and Space NK.

Beauty Blender, a beloved staple in the beauty industry, was created in 2002 by Hollywood makeup artist Rea Ann Silva. With over two decades of experience working with high-profile clients, Silva recognized the need for a tool that could achieve a flawless makeup application.  The innovative design and unique material of the Beauty Blender allow it to deliver an airbrushed finish to any makeup base, making it an indispensable item for makeup enthusiasts and professionals alike.

Pattern, a haircare line founded by award-winning actress and activist Tracee Ellis Ross (daughter of music legend Diana Ross), is designed specifically for curly, coily, and tightly textured hair. The range includes nourishing creams and shampoos that preserve moisture in drier hair types, as well as innovative styling tools. Through Pattern, Ross not only offers high-quality products but also empowers and educates women with textured hair, providing them with solutions tailored to their specific needs.

It is exciting seeing the number of beauty entrepreneurs and indie brands making their mark in this vast market, technology, including social media, transparency, authenticity and diversity, have certainly fueled the growth of these brands.

Need support with building your beauty brand?

Bespoke Advantage is a London based brand consultancy specialising in working with award-winning brands, retailers, investors, trade bodies and embassies to support you in developing and growing your brand across the marketplace. If you are looking to launch a brand in the industry, or for support in expanding your brand across markets, get in touch, we would love to hear from you – Get in touch.