Prestige Beauty Industry Grows to $17.7B

The US prestige beauty industry reached $17.7 billion in 2017, a six percent increase over 2016, according to global information company The NPD Group. The skincare category led in growth with a nine percent increase in sales that contributed 45 percent of the industry’s total gains. Makeup followed with a six percent increase in sales, and fragrance closed the year up four percent.

Skincare alone has reached $5.6 billion in sales; growth stems from smaller segments including masks (+32 percent), facial exfoliators (+12 percent) and cleansers (+6 percent). Facial moisturizers were up seven percent.

Makeup remains beauty’s largest category, although thegrowth rate slowed in 2017. It brought in $8.1 billion in 2017.