This report provides a complete review and analysis of the US facial skincare market and consumer, including a five year outlook to strategize your future success. Mintel’s BPC expert breaks down the latest industry developments and consumer demands, to provide brands with the opportunity to adapt and strategize accordingly.
US Facial Skincare Market Overview
After a sustained period of growth, sales of facial skincare products are forecast to steady off over the coming years. A more modest growth is expected long-term.
US Facial Care Market – Consumer Trends
Novelty and efficacy drive commonplace switch-out behaviors, boding well for innovative newcomers that can break out of a crowded marketplace of claims. Even as facial skincare becomes a mainstream interest, opportunity continues to exist to reduce barriers and lift usage among certain groups.
Looking ahead, stakeholders must target credibility, novelty, extended benefits to stay ahead of consumer demands. As consumers come to expect more for less, the growing mass and ‘masstige’ markets challenge the premium offerings to prove their value.
The above is just an example of the insights featured in Mintel’s US Facial Skincare Market Report. For more analysis, market data, and growth opportunities, purchase the full report. Readers of this report may also be interested in Mintel’s Future of Facial Skincare.
Key Areas Analyzed in this Report
- Market size, forecast and segmented performance of facial skincare
- Market and brand share within facial skincare
- Competitive strategies, opportunities and market drivers within facial skincare
- Consumer facial skincare knowledge levels, usage, and frequency of use
- Consumer facial skincare goals, pain points, and barriers
- Consumer attitudes and behaviors toward value, premiumization, and switching out facial skincare products
Report Scope
This report covers the US market for facial skincare and anti-aging products, which is defined as follows:
- Anti-aging facial products (can include cleansers, moisturizers, and treatments)
- Facial cleansers including scrubs and toners
- Facial moisturizers
- Acne treatments
- Lip balm
This report covers only the at-home facial skincare market and does not include professional services or body care products such as body wash or hand and body lotion.
Meet The Expert
This report is written by Senior BPC analyst, Joan Li. Joan joined Mintel in 2023. Prior to this role, she was an agency-side brand planner and consumer insights analyst for multiple CPG accounts.
Credibility, novelty and high-impact benefits are key pillars of innovation and strategy in a competitive category wherein switching-out is commonplace.
Joan Li
Senior Analyst, Beauty and Personal Care
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Executive Summary
- What you need to know
- Consumer trends: key takeaways
- Market predictions
- Opportunities
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The Market
- Market context
- Market drivers
- Budgetary behaviors on the decline
- Graph 1: budgetary behaviors, July 2023 vs February 2024
- Mass and masstige make gains over budget
- Graph 2: product launches by price positioning, 2019-23
- Accessibility continues to drive distribution
- Anticipate the impact of buzzy teen and Gen alpha skincare
- Graph 3: facial skincare priorities among teens/tweens, 2024
- Market size and forecast
- Facial skincare sales expected to grow 8.5% through 2028
- After a hot period of growth, sales steady off
- MULO sales is forecasted exceed 12bn by 2025
- Adjusted for inflation, the category is still expected to see long-term growth
- Market segmentation
- Acne treatments and facial moisturizers are expected to make the largest strides through 2028
- Graph 4: total retail sales and forecast of facial skincare products, by segment, at current prices, 2018-28
- Facial anti-aging, lip balm, and facial cleansers are expected to see steady, long-term growth
- Market share/brand share
- A handful of leading companies see topline sales growth in 2023
- As major anti-aging brands hold their position, niche players make modest gains in market share
- L’Oréal remains dominant across facial cleansing brands
- e.l.f., CeraVe, and La Roche Posay continue to make market share gains
- Church & Dwight’s acquisition of Hero Cosmetics bolsters its acne treatment performance
- Aquaphor’s strong 2023 sales performance boosts Beiersdorfs’ lip balm segment
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Competitive Strategies & Opportunities
- Balance what’s new and what’s tried-and-true
- Get ahead of holistic facial skincare routines
- Ensure a role in health maintenance routines
- Anticipate premium to shift toward complex, multi-functional formulas
- Compete on the frontier of biotech-driven claims
- Graph 5: Biotech product launches by beauty price positioning, 2019-23
- Connect green formulas to skin concerns
- Provide solutions to underserved oily skin frustrations
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Consumer Insights
- Consumer fast facts
- Knowledge levels
- Facial skincare knowledge goes mainstream
- Graph 6: facial skincare knowledge levels (%), 2024
- Younger consumers lead in facial skincare fluency
- Graph 7: facial skincare knowledge levels among age groups, 2024
- Usage & frequency
- Secondary products make gains
- Graph 8: usage of facial skincare products, 2022-24
- The average routine has become more elaborate
- Graph 9: product usage, repertoire, 2022-24
- Men’s routines go beyond the essentials
- Graph 10: product usage, repertoire, by gender, 2024
- Daily use is the standard
- Graph 11: frequency of facial skincare usage, by product, 2024
- Unlock further gains: make formats available for all skin types
- Graph 12: select use of facial skincare products, by skin type, 2024
- Connect normal skin types to the importance of prevention & routine
- Graph 13: select use of facial skincare products, by skin type, 2024
- Don’t neglect the basics of normal skin needs
- Trade-out behaviors & motivations
- Anticipate switching out across all product categories
- Graph 14: trade-out rates, by product, 2024
- Novelty drives trade-out behavior
- Graph 15: reasons for switching out products, by age, 2024
- Sensitive skin types are on the constant hunt for better and more gentle
- Graph 16: select reasons for switching out, by skin type, 2024
- On the flip side, oily skin types are trying to streamline their routines
- Graph 17: select reasons for switching out products, by skin type, 2024
- Skin “immunity” is mainstream principle
- Graph 18: agreement with skin “immunity” concept, by knowledge level, 2024
- Design and innovate for variety in advanced routines…
- …or take a stance against overconsumption
- Trade-up motivations
- Long-lasting results and multi-functional benefits are worth the extra splurge
- Graph 19: product features that motivate trading-up, 2024
- Brand rises to the top for advanced users
- Graph 20: features that motivate trading-up products, by knowledge level, 2024
- Build trust and exclusivity with new “expert” influencers
- Gentle continues to become an indicator of quality
- Graph 21: select trade-up motivations, by skin type, 2024
- Appeal to the most-challenged skin types with formula-first concepts
- Graph 22: select trade up motivations, by skin type, 2024
- Connect advanced ingredient narratives to persistent skin troubles
- Facial skincare goals
- Hydration is the broadest-reaching benefit
- Graph 23: facial skincare goals, 2024
- …but men’s goals come with the challenges of oily skin
- Graph 24: select facial skincare goals, by gender, 2024
- Leverage distribution to unlock further growth among men
- Continue to formulate for ethnic skin concerns
- Graph 25: select facial skincare goals, by ethnicity, 2024
- Acknowledge varied life stage needs for different skin tones and ethnicities
- Pain points and barriers
- Many are still looking for their “holy grail”
- Oily skin types are acutely underserved
- Graph 26: select facial skincare attitudes, by skin type, 2024
- Streamline routines for frustrated, advanced users and daunted beginners alike
- Graph 27: select facial skincare attitudes, by knowledge level, 2024
- Consider facial skincare routines in the context of larger health regimens
- Graph 28: facial skincare changes, by knowledge level, 2024
- Value-driven behaviors
- The majority of consumers stick to the same price point
- Graph 29: trade-up or down purchases in the past 12 months (% of consumers), 2024
- Younger men drive trade-up potential
- Graph 30: trade up vs trade down behaviors in the past 12 months, by gender and generation, 2024
- Premium offerings must continue to bridge the gap between results and price
- Graph 31: trade up vs trade down behaviors, by financial situation, 2024
- Premium offerings must continue to bridge the gap between results and price
- Graph 32: trade up vs trade down behaviors among consumers interested in paying more for skincare that works, 2024
- Tap into transparency as a lever of quality
- Bring consumers into the fold as brand stakeholders
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Appendix
- Market definition
- Consumer research methodology
- Generations
- Abbreviations and terms
- Market size methodology
- Forecast methodology
- Forecast fan chart
- Product category bases
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