Over the past decade, the US beauty and personal care market has grown at +5% annually, reaching USD 124 billion in 2024 with prestige beauty thriving on premiumization, indie disruptors, and social-first discovery. But the rules that powered the past 10 years are being rewritten: growth is slowing, competition remains intensive, and consumers are redefining what loyalty, efficacy, and value mean. To better understand these shifts, Kearney surveyed 1,000 US beauty consumers across generations and spending levels.
Despite tighter budgets, beauty remains a priority for American consumers — but not indiscriminately. In fact, 46% of consumers surveyed by Kearney, Kearney, 2025] plan to cut back on non-essential spending in the near term. Luxury goods, electronics, and home decor are expected to feel the impact first. Health and beauty spending, however, is likely to remain stable, though notable differences exist across income levels.
