Beauty is showing resilience to broader macroeconomic headwinds, Circana data from the first half of 2025 shows.

In the U.S., the prestige beauty market grew by 2 percent to $16 billion in the first half of the year, while mass grew 4 percent to $34.6 billion, the market research firm reports.

Though prestige is slowing down from past years, Larissa Jensen, global beauty industry adviser at Circana, doesn’t interpret it as a trade-down.

On the prestige front, “dollars grew and units grew,” Jensen said. “I always talk about units as an indicator of demand. Unit performance being positive in the prestige market is a great sign.

“The market has continued to slow down every year so it’s not unexpected. But this does speak to the resilience of the industry. We look at other industries, an

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