Skin Care Business Plan Template [Updated 2024]

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III. Industry Analysis

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In recent times, organic and herbal skincare is in trend because customers are aware of the adverse effects of synthetic chemicals on the skin. The U.S. beauty and personal care products market size was $81.1 billion last year, which is expected to witness a CAGR of 4.8% over the next five years, to reach $128.7 billion.

The growing consciousness among young and old consumers regarding their physical appearance has fostered the demand for anti-aging products and devices, as an excellent physical personality has become a necessity and determines an individual’s success in different areas of life.

Skincare is something that American women pay attention to, with an overwhelming majority saying that they tend to moisturize their face regularly. Keeping the skin hydrated is another gender-independent factor, as impressive numbers of American men are reported using products such as masks, scrubs, and anti-aging creams on top of skincare staples such as moisturizers. The United States has a thriving skincare market. The two bestselling skincare products in the U.S. are facial cleansers and acne treatments, which sold 316 million and 13.85 million units respectively last year.

The increasing awareness among the overall population to hold younger-looking skin, hardline marketing campaigns, and rising interests in a healthy and beauty regimen are driving the skincare products market in the United States.

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