The first half of US beauty results are in, with fragrance the big winner and mass showing signs of needing a big boost. Circana reports that in the first half of 2024, the US prestige beauty market grew by 8% to $15.3 billion, while sales in the mass category held flat.

“An accelerated bifurcation is emerging in the beauty industry, highlighted by the continued strong growth in prestige in relation to the mass market,” said Larissa Jensen, Global Beauty Industry Advisor at Circana. “Within prestige, drivers of growth point to a similar pattern, indicative of a consumer who is seeking elevated value. Optimizing these opportunities will vary as consumers’ approach to beauty spending differs by demographic―from attitudes and usage, to purchase influencers and shopping preferences.”

Fragrance

• The fastest-growing category year to date in prestige, with dollar sales up 12% over the same period in 2023.
• Both the higher and lower ends are seeing growth prestige: eau de parfums and parfums continue to drive the most significant impact to growth and rising prices while lower-priced products including minis and body sprays are contributing to the category’s success.
• The number of mini- and travel-sized products sold grew at double the rate compared to the overall fragrance category.
• Body mists and sprays, with average prices under $25, saw sales more than double revenue since the first half of 2023, driven by young consumers.
• The Gen Z dupe culture trend has been a bright spot for mass category where private label brands grew more than 50%.

Makeup 

• Remains the largest category in the prestige, growing 5% year over year.
• The lip segment continued to outperform, with double-digit growth led by lip balms and oils.
• Less traditional makeup forms are also outperforming outside of the lip segment, including liquid blush; stick, balm, and liquid bronzer; stick foundation; and stick eye shadow.
• In the mass market cosmetics aisle, lip gloss and liner were top sales gainers, further illustrating the consumer focus on the lips.

Skincare

• Prestige category sales increased by 7% remianing the fastest-growing category based on units sold.
• Body is the fastest-growing segment of the skincare market, with body spray sales growing triple digits and large volume segments like creams, lotions, and cleaners also contributing to this trend with double digit growth.
• Receipt-based checkout data showed that in the first half, consumer spending on prestige body products increased by 25%, and there are 17% more buyers in this market than there were last year.

Hair

• Hair product sales in the prestige market increased by 10%, based on dollars, with styling and treatments the fastest-growing areas of the category.
• Premiumization continues to drive growth; hair products with average prices above $30 grew at three times the rate of lower priced items and now account for 25% of unit sales for the category―compared to 15% just three years ago.
• The prestige hair market also tells an interesting channel story as the only beauty category with the majority of sales happening online showing no signs of slowing, with sales growing double digits.