We recently compiled a list of the . In this article, we are going to take a look at where Kenvue Inc. (NYSE:KVUE) stands against the other household and personal care stocks.
According to Grand View Research, the global market for beauty and personal care products is projected to increase at a CAGR of from 2024 to 2030. The market was valued at $557.24 billion in 2023.
Growing customer awareness of appearance is one of the main forces propelling market progress. In terms of type, in 2023 the conventional beauty and personal care market held the highest revenue share of 84.6%.
Last year, the skincare segment brought in 33.7% of the total revenue from the beauty and personal care products market, while the market for haircare products is anticipated to expand between 2024 and 2030 at a CAGR of more than 8.1%.
Regionally, the Asia Pacific beauty and personal care products market dominated the global market in 2023, accounting for 39.3% of total revenue, and is predicted to rise at a CAGR of approximately 9% from 2024 to 2030 as per the research. Specifically, the market for personal care products in the United States was estimated to be around $73.
17 billion in 2023 and is anticipated to grow at a CAGR of between 2024 and 2030. The primary driver of the personal care products market's expansion in the United States is the country's aging population. The number of Americans 65 and older increased from 49.
2 million in 2016 to 57.8 million in 2022, according to the US Census Burea.