Our Economic Impact
The cosmetics and personal care products industry touches millions of consumers who use safe, essential products every day. Consumers rely on cosmetics and personal care products whether as part of a skincare routine that supports confidence and well-being, or through services provided by small businesses like salons that serve communities nationwide.
The data reinforce the essential role our industry plays, not only in consumers’ everyday lives but also in driving economic growth, supporting jobs, and advancing innovation across the country.
From powering economic growth to creating jobs and fueling innovation, the personal care products industry is a major force in the U.S. economy. The latest findings highlight the industry’s expansive reach across supply chains, global trade, and consumer demand.
- Total Economic Output. Generated $495.6 billion in total economic output directly, through supply chains, and employee spending.
- Employment. Contributed more than 2.6 million total jobs, with approximately 1.2 million directly employed in the manufacturing, services, and distribution sectors.
- Top Export Markets. Canada, Mexico, and China accounted for 41.6% of total exports, with Canada and Mexico alone representing more than one-third of U.S. cosmetic exports.
- Research and Development. Invested more than $1.3 billion in domestic R&D in 2023 to bring new and improved products to consumers.
- Workforce Diversity. Employed 56.2% women and 25.2% Hispanic or Latino individuals in 2024, exceeding the U.S. national averages.
- Consumer Spending Surge. Rebounded after the COVID-19 pandemic. Consumer spending remained stable for about a decade through 2022 and surged by 2024, driven by increased spending by young and middle-aged consumers.
- Youth Spending Soars. The largest increase in spending, both in absolute dollars and percentage terms, was observed in the under-25 age group, challenging their previous position as the lowest spenders.
