Jersey City, NJ, May 02, 2023 (GLOBE NEWSWIRE) -- The newly published report titled Global Personalized Skincare Market– By Trends, Industry Competition Analysis, Covid-19 Analysis, Revenue (US$ Billions) and Forecast Till 2031. of InsightAce Analytic showcases in-depth industry analysis and an extensive study on the market forecast, exploring its significant factors.
"According to the latest published InsightAce market report, Personalized Skin Care Market Size was valued at 18.55 Billion in 2022 & is predicted to reach 43.43 Billion by 2031 at a 10.1 % CAGR during the forecast period for 2023-2031".
Every person's skin type is different, so instead of the usual way of shopping, consumers need a medication tailored to their own needs. Personalized skincare products are designed and customized, taking into account various factors such as age, gender, skin type, genetic background, ingredients, skin problems, and user experience. Beauty companies collect consumer information in the form of questions, queries, consultations, digital format, or home inspection tools and use advanced technology and science to provide the most popular personalized skincare products. These products contain a variety of skincare options, including oils, face creams, lotions, serums, cleansers, and more.
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The technological advances in the beauty industry, adoption of the Internet and social media platforms by users to market products, high prevalence of skin and lifestyle diseases worldwide, increasing people's choice in personal health care, rising consumer spending, rising R&D activities to develop advanced skincare products, surging personalized beauty treatments and products, and the use of AI (Artificial Intelligence) to develop cost-effective personalized skincare products are expected to drive the market growth opportunities in the coming years. The proliferation of skin, hair, and lifestyle changes has made consumers eager to find solutions to their specific skin problems. Therefore, growing consumer awareness about skincare is expected to fuel the market demand over the next few years. However, the high rates of customized skincare products and the few side effects associated with these products are estimated to slow down market growth over the forecast period.
The COVID-19 pandemic has had a negative impact on the beauty and cosmetics industry due to lockdown restrictions in various countries across the globe. However, Covid-19 has also encouraged the entire beauty industry to move online. The Covid-19 pandemic has accelerated existing consumer trends and propelled online activities to be more prevalent than offline activities, which produced the desires for various products in the consumers.
Key Industry Developments from Leading Players:
- In November 2021, Coty Inc. (US), the world's largest beauty company, collaborated with Orveda, an ultra-premium skincare brand made in France. The diversity-owned Haute-professional skincare offers the combination of the best of nature with cutting-edge dermatological and biotechnology benefits to help consumers achieve a healthy skin glow that rivals makeup
- In August 2021, Function of Beauty (US), a leader in customizable hair, skin, and body care products, acquired Atolla, a personalized skincare company with a patented at-home skincare test and a data-driven product recommendation system that helps inform tailored formulations and regimens over time
- In January 2021, Marianna Naturals Corp. (Canada) and Perfect Corp. launched a real-time skin diagnostic tool that analyzes four popular beauty concerns: spots, wrinkles, texture, and dark circles
The prominent players in the personalized skincare industry include:
- Atolla (the US)
- Ave & Edam (Germany)
- Bare Anatomy (India)
- Clinique Laboratories, LLC (the US)
- CODAGE (France)
- Coty Inc. (the US)
- Curology, Inc. (the US)
- DermaCare (the US)
- Evrēdā Skincare (Canada)
- FitSkin Inc (the US)
- Function of Beauty (the US)
- Glory Skincare (the US)
- insitU Cosmetics Ltd. (UK)
- IOMA Paris (France)
- It's The Buff (the US)
- Kiehl's LLC (the US)
- Kura Skin, Laboté (the US)
- Lancôme (France)
- L'Occitane Group (France)
- L'Oréal, Marianna Naturals Corp. (Canada)
- My Beauty Matches (UK)
- Neutrogena (the US)
- Romy Paris (France)
- Sequential Skin (UK)
- Shiseido Company (Japan)
- Skin Authority (the US)
- Skin Inc. (Singapore)
- SkinAI LLC (Our Skin) (the US)
- SkinCeuticals (the US)
- Skinsei Skincare (the US)
- SKINSHIFT (the US)
- SKINTELLI (the US)
- EpigenCare (the US)
- Vitruvi (Canada)
- Younique, LLC (the US)
- Yours Skincare (the US)
Personalized Skin Care Market Report Scope:
| Report Attribute | Specifications |
| Market Size Value In 2022 | USD 18.55 Billion |
| Revenue Forecast In 2031 | USD 43.43 Billion |
| Growth Rate CAGR | CAGR of 10.1 % from 2023 to 2031 |
| Quantitative Units | Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Segments Covered | By Product, By Application |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
Personalized Skincare MarketRegional Analysis:
North America is projected to hold the highest revenue share of the personalized skincare market over the forecast years due to the rising awareness among the population about personal care, growing healthcare expenditure, and increasing innovations of personalized skincare products. Apart from this, Asia-pacific is estimated to be the rapidly growing regional market in the coming years, owing to the rising health-conscious people, growing skin problems, and increasing R&D investments to innovate effective and safe skincare products.
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The Global Personalized Skincare Market Segments:
The Global Personalized Skincare Market Estimates (Value US$ Billion) & Forecasts and Trend Analyses, 2019 to 2030 based on Products
- Face Cream
- Moisturizing Lotion
- Face Serum
- Face Cleanser
- Other Products
The Global Personalized Skincare Market Estimates (Value US$ Billion) & Forecasts and Trend Analyses, 2019 to 2030 based on Applications
- Consultation/digital questionnaires
- Apps and specialized hardware
- Home test kits
- Other IoT/AI Based technologies
The Global Personalized Skincare Market Estimates (Value US$ Billion) & Forecasts and Trend Analyses, 2019 to 2030 based on Region
- Europe
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
North America Personalized Skincare Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- U.S.
- Canada
Europe Personalized Skincare Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Personalized Skincare Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Personalized Skincare Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa Personalized Skincare Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- GCC Countries
- South Africa
- Rest of the Middle East & Africa
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