Extraordinary Impact

By Tom Myers
President & CEO, Personal Care Products Council

I’m excited to share our latest economic and social contributions report, “The Beauty of Impact,” which showcases the incredible achievements of the U.S. cosmetics and personal care products industry. This industry supports our economy, enriches our communities and champions environmental sustainability. Since the 2020 report, we’ve seen remarkable growth in gross domestic product (GDP) contribution, job creation, labor income and tax payments. Beyond these impressive numbers, our industry’s commitment to diversity, innovation and community support shines through, making a tangible difference in people’s lives. The report is a testament to the dedication and hard work of everyone in our industry, and I am immensely proud to be part of this extraordinary journey. The data speaks for itself:

  • 4.6 million jobs: Direct and indirect employment across various sectors
  • $203.3 billion in labor income: Providing well-paying jobs nationwide
  • $308.7 billion added to the GDP: A significant economic force
  • $82.3 billion in taxes: Supporting federal, state and local services

Economic Resilience and Growth

Our industry survived the pandemic and thrived, generating a $2.6 billion trade surplus, the second-largest surplus in the manufacturing sector. In addition, the industry’s contribution to the nation’s GDP increased by more than 15%, total employment increased by more than 17%, total labor income increased by 19% and total tax payments increased by 27% since 2020.

Social Contributions

The industry’s impact extends beyond economics. It is a leader in fostering positive social change, contributing to the health and well-being of our communities, the nation and the planet by:

  • Fostering entrepreneurship and small businesses, with 71% of employees working for a small business with fewer than 50 employees;
  • Supporting women and people of color by dramatically exceeding national averages for employment for women (nearly 80%) and people of color (33%);
  • Investing in science by employing more than 5,700 science, technology, engineering and mathematics (STEM) professionals;
  • Contributing to a more sustainable world with industry leaders reducing greenhouse gas (GHG) Scope 1 emissions by 8.7%, and
  • Giving back to communities by donating $1,500 for every $1 million in revenue, totaling $170 million to a range of charitable causes.

I am incredibly proud to be part of an industry that drives economic growth and champions social well-being and environmental responsibility. The sustained impact of our industry is the result of decades of dedication to these values.

As we celebrate these accomplishments, we also look to the future with a continued commitment to economic and social contributions to make a difference. Our industry is doing great things—creating employment opportunities for millions of people, investing in scientific research to drive innovation, and supporting the health and well-being of everyone who uses our industry’s products—because that impact is truly extraordinary. Today and for decades to come.  

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Since 2016, PCPC has worked with PricewaterhouseCoopers (PwC) to measure the economic and social impact of the personal care products industry using the most recent government data available. An executive summary and the full report are available on PCPC’s website, including detailed data for every state and the nation’s largest Metropolitan areas (New York and Los Angeles).

More from PCPC

Statement by Tom Myers, President and CEO, Personal Care Products Council, on the Reintroduction of the SHOP SAFE Act

FOR IMMEDIATE RELEASE

CONTACTS:     

Tesia Williams (202) 297-1232 williamst@personalcarecouncil.org
Stefanie Harrington (202) 615-6558 harringtons@personalcarecouncil.org

Statement by Tom Myers, President and CEO, Personal Care Products Council, on the Reintroduction of the SHOP SAFE Act

WASHINGTON—“The Personal Care Products Council (PCPC) and our member companies appreciate Reps. Darrell Issa (CA-48), Jerrold Nadler (NY-12), Ben Cline (VA-06) and Hank Johnson (GA-04) for introducing the Stopping Harmful Offers on Platforms by Screening Against Fakes in E-Commerce (SHOP SAFE) Act of 2024. We strongly support its passage.

“E-commerce platforms create opportunities for legitimate companies to grow and reach new consumers, providing them with more choices and greater convenience. However, the current structure is vulnerable to exploitation and contributes significantly to a rise in illicit trade. Counterfeit personal care products damage businesses, disregard regulatory protections and more importantly threaten consumers’ health and safety.

“Consumers should have the same assurance that the products they purchase online are as safe and effective as the products they purchase in a brick-and-mortar store. Our member companies invest substantial resources to ensure the safety and quality of their products and U.S. laws hold our members accountable for doing so. The SHOP SAFE Act would even the playing field.

“We encourage Congress to establish a system that makes online marketplaces and others responsible for ensuring that products on their e-commerce platforms comply with U.S. laws and regulations. Legislation should also establish a minimum threshold for submission and validation of identification, banking and product authentication documentation to provide consumers greater confidence that the products they purchase are authentic and safe.

“We look forward to working with members of Congress and other stakeholders to raise awareness and develop solutions to combat the online sale of counterfeit products and establish stronger consumer protections.”

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Founded in 1894, the Personal Care Products Council (PCPC) is the voice and advocate for 600 member companies representing the global cosmetics and personal care products industry. PCPC’s members represent approximately 90% of the U.S. beauty industry and are some of the most beloved and trusted brands in beauty and personal care today. As manufacturers, distributors and suppliers of a diverse range of products millions of consumers rely on every day – from sunscreens, toothpaste and shampoo to moisturizer, makeup and fragrance – PCPC’s member companies are global leaders committed to safety, quality and innovation. 

More from PCPC

Cosmetics and Personal Care Products Industry Drives the U.S. Economy and Promotes Social Well-being, According to New Report

FOR IMMEDIATE RELEASE

CONTACTS:     

Tesia Williams (202) 297-1232 williamst@personalcarecouncil.org
Stefanie Harrington (202) 615-6558 harringtons@personalcarecouncil.org

Cosmetics and Personal Care Products Industry Drives the U.S. Economy and Promotes Social Well-being, According to New Report

WASHINGTON—The Personal Care Products Council (PCPC) unveiled its latest report, “The Beauty of Impact,” which shows the profound economic and social contributions of the U.S. cosmetics and personal care products industry. The report highlights the industry’s role in job creation, economic growth, scientific advancement, sustainability and community support throughout 2022, the most recent data available.

“On every measure, our industry is thriving and contributing to the U.S. economy while serving as an agent for positive change for people and the planet,” said PCPC President and CEO Tom Myers. “Our member companies are committed to creating employment opportunities, driving innovation through scientific research, and supporting consumers’ health and well-being.”

Economic Contributions:

  • 4.6 million jobs: The industry supports direct and indirect employment across various sectors, highlighting its role as a significant job creator.
  • $203.3 billion in labor income: This substantial figure reflects the industry’s commitment to providing well-paying jobs.
  • $308.7 billion added to the gross domestic product (GDP): Cleary indicates the industry’s significant impact on the national economy.
  • $82.3 billion in federal, state and local taxes: These contributions support public services and infrastructure.

Despite the challenges posed by the pandemic, the industry demonstrated remarkable resilience and growth:

  • 15% increase in GDP contributions since 2020.
  • 17% rise in total employment, underscoring the industry’s expanding workforce.
  • 19% boost in labor income, reflecting increased wages and salaries.
  • 27% increase in tax payments, contributing more to government revenues.

Industry Highlights:

  • Small Business Support: 71% of employees work for businesses with fewer than 50 employees, showcasing the industry’s role in fostering entrepreneurship.
  • Diversity and Inclusion: Employment rates for women (nearly 80%) and people of color (33%) significantly exceed national averages, demonstrating the industry’s commitment to equity.
  • STEM Investment: Over 5,700 professionals are employed in science, technology, engineering and mathematics (STEM), driving innovation and ensuring product safety.
  • Sustainability Efforts: Industry leaders reduced Scope 1 greenhouse gas emissions by 8.7%, highlighting their commitment to environmental responsibility.
  • Charitable Contributions: The industry donated $170 million to various causes, translating to $1,500 for every $1 million in revenue, significantly above the national average.

PCPC has worked with PricewaterhouseCoopers (PwC) since 2016 to measure the economic and social impact of the personal care products industry using the most recent government data. An executive summary and the full report, including detailed data for every state and the nation’s largest Metropolitan areas (New York and Los Angeles), are available on PCPC’s website.

# # #

Founded in 1894, the Personal Care Products Council (PCPC) is the voice and advocate for 600 member companies representing the global cosmetics and personal care products industry. PCPC’s members represent approximately 90% of the U.S. beauty industry and are some of the most beloved and trusted brands in beauty and personal care today. As the manufacturers, distributors and suppliers of a diverse range of products millions of consumers rely on every day – from sunscreens, toothpaste and shampoo to moisturizer, makeup and fragrance – PCPC’s member companies are global leaders committed to product safety, quality and innovation.

More from PCPC