November 2023

Beauty industry sales remain buoyant, however the drivers of its growth are evolving. In line with Circana, prestige beauty dollar sales grew 14 percent this yr through September; and mass market dollar sales grew 8 percent through the same period. Unit sales continued to rise across all prestige categories, while mass unit sales were down 2 percent and three percent in hair care and fragrance, respectively, though average price increases propped up revenue growth within the categories. Cosmetics and skincare, nonetheless, “are healthy categories in each mass and prestige,” said Larissa Jensen, senior vice chairman, global beauty industry adviser at Circana. Makeup maintained its position because the fastest-growing category inside prestige by revenue growth, posting $7.1 billion in sales year-to-date, up...