Premium beauty and personal care in the US registered an absolute value loss of USD4.2 billion in 2020, weighed down by beauty specialist retailer and department store closures, tightened consumer spending as a result of job insecurity or unemployment, and home seclusion trends.
Premium beauty players concentrated marketing efforts on “brighter spots” that either did not decline as much as premium colour cosmetics or that grew modestly. Premium skin care players debuted brand extensions in hand care lotions, cleansers with specific delivery formats (such as chemical peels, exfoliators, or overnight sleeping masks), or general purpose body care with active ingredients commonly found in facial care (such as hyaluronic acid, niacinamide, squalene, lactic acid, and glacial water, to name a few).
Premium make-up players should continue to focus on wellness, clean beauty, science-backed efficacy, and other portfolio segments that can be “skinified” (incorporated with skin care ingredients or benefits found in skin care). Premium categories that outperformed the US market include premium hair care, premium baby and child specific products, and certain categories of premium facial care, all categories that are undergoing sustainability packaging and clean beauty formulation changes.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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