The cosmetics market, which represented 36 percent of global direct sales in 2010, continues to do well in the United States in spite of the ongoing recession.
According to a recent Cosmetics & Toiletries USA report from the global consulting firm Kline & Company, the U.S. personal care market reached $38 billion in 2011, surpassing pre-recession levels and representing a robust growth rate of 4.2 percent.
Makeup sales exceeded the industry average growth rate, boosted by an astonishing near 30 percent growth of the nail polishes subcategory. Eye makeup and fragrances for women also showed strong growth.
The report stated that use of cosmetics and toiletries was highest among Hispanics, at 56 percent of all Hispanics using some form of cosmetics compared to 32 percent of the non-Hispanic population.
Skin care products continue to dominate the cosmetics category, with men’s skin care experiencing the best growth in several years. According to the Household and Personal Products Industry (HAPPI) online newsletter, over 8 in 10 (86%) told the NPD Group, a consumer research agency, that they use makeup products that also contain skin care benefits such as foundation with sun screen or anti-aging properties.