Next-Gen Personalized Beauty Market 2024: Trends and Competitive Landscape

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Next-Generation Personalized Beauty Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $74.71 billion In 2028 At A CAGR Of 14.6% :

The next-generation personalized beauty market size has grown rapidly in recent years. It will grow from $37.78 billion in 2023 to $43.26 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to advertising & promotional activities, strong economic growth in emerging markets and rising disposable income.

The next-generation personalized beauty market size is expected to see rapid growth in the next few years. It will grow to $74.71 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to rapid urbanization, rapid growth in ecommerce and tech savy customers and companies. Major trends in the forecast period include advertising & promotional activities, strong economic growth in emerging markets and rising disposable income.

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Next-Generation Personalized Beauty Market Major Segments
The next-generation personalized beauty market covered in this report is segmented -

1) By Product: Skincare, Haircare, Make-Up, Fragrances, Other Products
2) By Application: Consultation/Digital Questionnaires, Apps And Specialized Hardware, Home Test Kits

Key Driver - Surging E-Commerce Demand Fuels Next-Generation Personalized Beauty Market Growth

Increasing demand from e-commerce companies for consumer goods to cater to the growing demand from end customers is expected to increase the demand for personal hygiene products and drive the demand for next-generation personalized beauty during the forecast period. The e-commerce sector relies heavily on logistic delivery providers, who are currently being serviced by logistic companies. According to the US Department of Commerce Retail Indicator Division, e-commerce sales were $870 billion in the US in 2021, a 14.2% increase over 2020. With reduced delivery times and leaner supply chains, the demand for last-mile delivery in e-commerce is expected to drive the demand for consumer goods, thus generating demand for next-generation personalized beauty. With consumers 40% more eager to explore new beauty products and brands than they were before the pandemic, a solid digital strategy is critical to maximizing brand discovery potential. Virtual storefronts have aided in the transformation of e-commerce from static product catalogs to dynamic, changing locations that seem much more like something you may encounter in a physical store-a significant competitive advantage for online beauty firms. Hence, the growing e-commerce market is expected to drive demand for the next-generation personalized beauty market.

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Prominent Trend - Strategic Collaborations Propel Innovation And Growth In The Next-Generation Personalized Beauty Market

Companies in the next-generation personalized beauty market are strategically partnering and collaborating with other companies to broaden their product portfolios and expand their next-generation personalized beauty products. For example, in April 2021, Revieve, a US-based company engaged in offering personalized products, services, and treatments, entered into a partnership with BABOR, a Germany-based company offering customized skin care solutions to its customers. In July 2021, AptarGroup, Inc., a US-based personal care, beauty, and pharmaceutical company, entered into a strategic collaboration with Yan An Tang, a China-based company that offers customized, personalized skincare products, nursing programs, and one-on-one skincare consultations.

Next-Generation Personalized Beauty Market Players
Major companies operating in the next-generation personalized beauty market report are Estee Lauder Inc, Function of Beauty, Prose, Curology, Hims & Hers Health Inc, Skin Authority, Bite Beauty, Esalon, Codage, insitU Cosmetics Ltd, Lancome, Giorgio Armani Beauty, Kiehl's, Olay, Baccarose Perfumes & Beauty, Kanha Nature Oils, CKC Fragrances, Deon Pro Corporation, Flavaroma, Zhuhai Jiaxinkang Pharmaceutical Technology Co Ltd, Guangzhou Phero Perfume Co Ltd, Shandong Yingyang Flavors & Fragrances Co Ltd, Kao Chemicals, Takasago International Corporation, Guangzhou MT perfume Company, Zhejiang Qianliang Cosmetics Co Ltd, Guangzhou Baihua Flavors And Fragrances Company Ltd, Barry M Cosmetics, Beiersdorf UK Ltd, HC MedSpa, BEEVER Personal Care, Dendron Brands Ltd, Richards and Appleby Ltd, Skin Health Spa, Design Plus Health & Beauty Ltd, Famille Grasse Parfums, Dina Cosmetics France, Mikrocaps D.O. O, BASF SE, Firmenich SA, Solvay, Robertet Group, Symrise AG, Givaudan, Akvion JSC, Eleutere-Parfum Ltd, Atlantic Cosmetics (Atlantic Group), Tereza-Inter LLC, Verona Products Professional Sp. Z O.O, Binalex, Gabriella Salvete S.R.O, Paul's Bohemia Trading S.R.O, Hero Cosmetics, Momentive Performance Materials Inc, Ashland Inc, Stepan Company, Avon Products Inc, ROCSA, Surya Brasil, Natura & Co, Dacov Cosmeticos, Unilog Universal Logistics, Columbia Cosmetics, GlamBox ME, Huda Beauty, Glamazle, Source Beauty, Lavido, Gamila Secret, Beauty Treat, GlowByCindy, Fyzzoworld Skincare, Organic Therapy, Charlotte Rhys, Mented Cosmetics, Esse Skincare

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the next-generation personalized beauty market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the next-generation personalized beauty market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Next-Generation Personalized Beauty Market Report Structure
3. Next-Generation Personalized Beauty Market Trends And Strategies
4. Next-Generation Personalized Beauty Market - Macro Economic Scenario
5. Next-Generation Personalized Beauty Market Size And Growth
…..
27. Next-Generation Personalized Beauty Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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