$55.4bn
$X.Xbn
451k
179k
$X.Xbn
Many consumers purchase beauty products from large retailers like Sephora and Ulta because of their broad product range, expertise and loyalty programs. The pandemic resulted in significant slowdowns in revenue, as consumers were less likely to purchase new cosmetics. However, demand for skin and hair care products soared during this time, protecting the industry from revenue losses. Elevated inflation in 2022 negatively impacted demand for beauty products, as the discretionary nature of these products, combined with weaker disposable income, resulted in shrinking revenue. However, the ongoing economic recovery has largely benefited beauty stores. These factors caused revenue to grow at an estimated CAGR of 2.6% to $55.4 billion over the past five years, including a 1.5% jump in 2024 alone.
Industry revenue has grown at a CAGR of 2.6 % over the past five years, to reach an estimated $55.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Ulta Beauty, Inc. | 11,046.9 | 1,582.1 | 14.3 | |
Sephora | 3,685.2 | 292.7 | 7.9 | |
Bath & Body Works, Inc. | 2,974.4 | 515.4 | 17.3 |
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Industry revenue is measured across several distinct product and services lines, including Haircare products, Skincare products and Cosmetics. Haircare products is the largest segment of the Beauty, Cosmetics & Fragrance Stores in the US.
Cosmetics continue to generate the most revenue
This industry comprises stores that primarily retail cosmetics, perfumes, toiletries and personal grooming products. Operators in this industry include beauty supply stores, specialty cosmetics stores and fragrance stores.
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NAICS 44612 - Beauty, Cosmetics & Fragrance Stores in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The widespread popularity of skincare in recent years has contributed heavily to growth. Skincare sales cushioned retailers from severe pandemic losses and fueled growth, hig...
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Proximity to population hubs boosts foot traffic for businesses. Increased customer visits lead to higher sales, so many companies operate near metropolitan areas.
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Online retailers benefit from lower operating costs, disrupting the retail market. This cost advantage has hindered the growth of traditional retailers, who face higher overh...
Learn about the performance of the top companies in the industry.
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Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
E-commerce sales are expected to keep growing. Consumers are shifting their preferences to online shopping, which harms foot traffic at brick-and-mortar stores.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
High inflation makes products more expensive. However, because of prominent price competition, retailers often fail to pass on cost increases to consumers.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Beauty, Cosmetics & Fragrance Stores in the US industry in United States is $55.4bn in 2024.
There are 179k businesses in the Beauty, Cosmetics & Fragrance Stores in the US industry in United States, which has grown at a CAGR of 5.3 % between 2019 and 2024.
The market size of the Beauty, Cosmetics & Fragrance Stores in the US industry in United States has been growing at a CAGR of 2.6 % between 2019 and 2024.
Over the next five years, the Beauty, Cosmetics & Fragrance Stores in the US industry in United States is expected to grow.
The biggest companies operating in the Beauty, Cosmetics & Fragrance Stores market in United States are Ulta Beauty, Inc., Sephora and Bath & Body Works, Inc.
Retailing cosmetics and Retailing haircare products are part of the Beauty, Cosmetics & Fragrance Stores in the US industry.
The company holding the most market share in United States is Ulta Beauty, Inc..
The level of competition is high and increasing in the Beauty, Cosmetics & Fragrance Stores in the US industry in United States.