11.02.18
According to a recent report from The NPD Group, in the third quarter of 2018 (July-September), sales of U.S. prestige beauty products were $4.1 billion, a 7% increase over Q3 2017.
All four major categories showed increased sales in the quarter. While Makeup rose 1% to $1.9 billion, Skincare, with $1.3 billion in sales, grew 15% over the same period last year. Fragrance came in at $783.6 million, up 6%. Hair also showed impressive double-digit 27% growth, to reach $176.7 million.
“The big story for the third quarter is the acceleration in skincare, which is growing more than twice the rate of fragrance and 15 times faster than the rate of makeup. We continue to see natural brands and entry price categories fuel the skincare category, but the big shift this year is the renewed interest in new products from legacy classics in the anti-aging category. With consumer confidence breaking records, the two highest priced beauty categories of skincare and fragrance may be reaping the benefits of a bigger wallet. Despite the success of its sister categories, makeup continues to struggle, being the most impacted by a highly fragmented marketplace,” said Larissa Jensen, beauty industry analyst, The NPD Group—and a member of Beauty Packaging’s Board of Advisors.
All four major categories showed increased sales in the quarter. While Makeup rose 1% to $1.9 billion, Skincare, with $1.3 billion in sales, grew 15% over the same period last year. Fragrance came in at $783.6 million, up 6%. Hair also showed impressive double-digit 27% growth, to reach $176.7 million.
“The big story for the third quarter is the acceleration in skincare, which is growing more than twice the rate of fragrance and 15 times faster than the rate of makeup. We continue to see natural brands and entry price categories fuel the skincare category, but the big shift this year is the renewed interest in new products from legacy classics in the anti-aging category. With consumer confidence breaking records, the two highest priced beauty categories of skincare and fragrance may be reaping the benefits of a bigger wallet. Despite the success of its sister categories, makeup continues to struggle, being the most impacted by a highly fragmented marketplace,” said Larissa Jensen, beauty industry analyst, The NPD Group—and a member of Beauty Packaging’s Board of Advisors.
