With revenues from the global skin care market expected at $646.2 billion in 2024, starting a skin care brand can seem like an extremely lucrative entrepreneurial venture. 

As an aspiring entrepreneur based in the United States, having a clearer picture of the local market can help you better determine business opportunities. All this starts with knowing how much the US skin care market is worth. 

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US skin care market in 2024

According to a recent analysis, the US skin care market is set to generate $24.4 billion in revenues in 2024—a 3.2% increase from the previous year. This represents a market share of 24.3%. In other words, nearly one-quarter of every dollar US consumers spend on beauty products in 2024 will be on skin care.

Skin care products will also be the second-largest revenue-generating products of the entire US beauty industry, after personal care, which has revenues forecasted at $45.5 billion, almost double the expected revenues of skin care items.

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Despite the expected annual increase this year, the US skin care market’s growth rate marks a slowdown from the previous years. In 2023, it grew by 5.5%, while 2022’s annual growth rate registered at 8.1%, the largest expected between the forecast period of 2018 to 2028.

By industry experts’ estimations, between 2018 and 2024, the sector is set to increase its annual revenues by $4.2 billion. This marks a 20.7% overall increase and an average annual growth rate of 3.2%. 

US skin care market: 2025–2028 revenue forecast

Looking ahead, analysts expect the US skin care market to continue growing, albeit at a slower pace. Growth rates of 3% are expected in both 2025 and 2026, to bring overall revenues to $25.1 billion and $25.8 billion, respectively.

In 2027, the market is to grow a little faster, as it generates $26.7 billion in revenue. A 2.6% rise in sales is predicted in 2028, which will take revenues to $27.3 billion. 

From 2025 to 2028, the US skin care market is forecast to see its revenues increase by a total of $2.3 billion. This is an overall increase of 9% and an average annual growth rate of 2.9%.

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