Beauty That Drives Economic Growth
U.S. Beauty Economic Impact by the Numbers
4.6M
Jobs created and supported by the industry
$203.3B
Produced in industry labor income
$82.3B
Produced in federal, state and local tax payments
$308.7B
Contributed to national GDP by the industry
Cosmetics and Personal Care Products Industry is Essential to the U.S. Economy
The cosmetics and personal care products industry is a key driver of the U.S. economy and one of the major components of U.S. household spending. Consumers continue to invest in beauty products, with the top expenditure groups being cosmetics, fragrances and hair care products. These investments resulted in $210.6 billion in total sales in 2022.
Employment in the U.S. personal care products industry has increased by 35 percent between 2001 and 2022, outpacing total U.S. private employment’s increase of 18 percent. This growth is largely attributable to the personal care services segment of the industry, which increased by 41 percent between 2001 and 2022.
PCPC will continue to advocate for policies that are based on sound science, drive economic growth and ensure consumer choice and accessibility.
We support:
- Consumer choice and accessibility to beauty and personal care products.
- Policies that are based on the best available science and align with global and U.S. regulatory frameworks.
- Policies that encourage industry growth of U.S. operations, increase U.S. jobs, support U.S. economic growth.
What You Need to Know About SB2057 and AB2054
As written, New York bills SB2057 and AB2054 would ban safe and commonly used preservative ingredients that help maintain the shelf life of popular products, such as shampoo, lipstick and toothpaste. The ingredients are important for the cosmetics and personal care products industry to continue to use and have been thoroughly reviewed for safety.
If enacted as drafted, these bills would have a devastating impact on the local cosmetics industry and small business owners while providing no meaningful health benefit to consumers. In addition, the legislation would force trusted brands off the market, leaving New Yorkers with fewer options.
Essentiality Quick Facts
Contributions by State
California, Texas, Florida, New York and New Jersey are the states that have the largest number of jobs directly and indirectly supported by the industry. Learn about the economic impact of the beauty industry on your state.
U.S. Market Driver
Domestic manufacturing provides most of the products for the U.S. market. U.S. cosmetics and personal care product exports reached nearly $17 billion in 2024, with Canada serving as our most important export market.
Trade Surplus Products Generator
Industry boasts a trade surplus with products such as shampoo, nail polish, mouthwash, soap, body sprays, aftershave and various fragrance and flavor ingredients, totaling about $1.3 billion.
