Personalized Beauty Redefined: Market Analysis and Emerging Trends in Next-Generation Solutions

Next-Generation Personalized Beauty Market is valued at US$ 41.9 Million in 2021, and it is expected to reach US$ 143.6 Million by 2030, with a CAGR of 15.3% during a forecast period of 2024-2031.
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Next-Generation Personalized Beauty Market- by Products (Skincare, Haircare, Make-up, Fragrances, and Others), Application (Consultation/digital questionnaires, Apps and specialized hardware, Home test kits, and Others), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global Next-Generation Personalized Beauty market is valued at US$ 41.9 Million in 2021, and it is expected to reach US$ 143.6 Million by 2030, with a CAGR of 15.3% during a forecast period of 2024-2031.

Sales of next-generation customized beauty services and products by personalized beauty-related businesses make up the next-generation personalized beauty market (sole proprietorships, organizations, and partnerships). The next generation of personalized beauty includes goods and services that are made to meet the unique needs of each person. The next generation of personalized beauty goods has everything from cosmetics and haircare to skincare products like body lotion and lotions. In the new era of customized beauty, haircare, skincare, fragrances, makeup, and other goods are the most widely used. The next wave of customized beauty skincare includes customized skincare goods and services. Skincare personalization comprises getting to know the client's skin better, attending to its requirements, and choosing products that are suitable for skin in a particular situation.

The next-generation customized beauty industry is growing as a result of rising customer concern about skin conditions such as acne, cold sores, blisters, and hives. Skin conditions might be hereditary, asymptomatic, or permanent. They can also be painful. As the prevalence of skin conditions rises, people are becoming more aware of their skin and searching for individualized treatments and solutions to address skin issues. About one-third of the world's population suffers from skin problems, making them the fourth most common cause of all human ailments. The market for next-generation personalized beauty is being driven by consumers' growing demand for more customized treatments. To diversify their next-generation personalized beauty product portfolios, businesses in the sector are strategically working and collaborating with other companies. The Next Generation Personalized Beauty Market benefits from Covid-19. During the COVID-19 pandemic, demand for wellness and self-care items grew due to increasing consumer focus on beauty and personal care requirements, as well as consumer products in general.

Europe is anticipated to be the major contributor to the Next-Generation Personalized Beauty market over the forecast years. Consumers' increased awareness about skin disorders such as acne, blisters, cold sores, and hives across Europe is fueling the expansion of the next-generation personalized beauty business. Raising knowledge regarding customized beauty products to meet specific beauty needs is also expected to promote market expansion. In addition, the Asia Pacific Next-Generation Personalized Beauty market is expected to grow significantly during the forecast period. Over the forecast period, the rapidly evolving beauty industry in the Asia Pacific is expected to promote market growth. Rising worries about skin disorders are hastening the personalized skin care sector. However, increased progress in genomic sciences to investigate an individual's genetics and features has generated considerable prospects for personalized beauty products in this market over the predicted period.

Major market players operating in the Next-Generation Personalized Beauty market include FitSkin Inc., Ulta Beauty, Inc., Krigler, Kiehl's Apothecary Preparations, SkinCeuticals Custom D.O.S.E., IOMA Paris, BITE Beauty, Curology, Coty Inc., Estee Lauder Inc., insitU Cosmetics Ltd., Function of Beauty, The Buff, DermaCare, Skin Inc., eSalon, Romy Paris, CODAGE, Duolab, Prose, Nomige, Atolla, SKINTELLI, AN EPIGENCARE BRAND, Proven Skincare, SkinAI LLC (Our Skin), Ave & Edam, Preemadonna Inc., Labote, Orig3n, SKINSHIFT, Skin Authority, NU SKIN, Sephora, and Other Prominent Players

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Recent collaborations and agreements in the market:

* In July 2021, a strategic alliance was established between Yan An Tang, a Chinese company that offers customized, individualized skincare products, nursing programs, and one-on-one skincare consultations, and AptarGroup, Inc., a personal care, beauty, and pharmaceutical company with headquarters in the United States.
* In June 2021, Apostrophe was acquired by Hims & Hers Health, Inc. for an undisclosed sum. This American business offers customized health and wellness services to clients through a multi-speciality telehealth platform.
* In April 2021, Revieve, a company based in the US that offers customized goods, services, and therapies, partnered with BABOR, a business based in Germany that offers clients individualized skin care options.

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Market Segments

Global Next-Generation Personalized Beauty Market, by Products, 2024-2031 (Value US$ Mn)

* Skincare
* Haircare
* Make-up
* Fragrances
* Others

Global Next-Generation Personalized Beauty Market, by Application, 2024-2031 (Value US$ Mn)

* Consultation/digital questionnaires
* Apps and specialized hardware
* Home test kits
* Others

Global Next-Generation Personalized Beauty Market, by Region, 2024-2031 (Value US$ Mn)

* North America
* Europe
* Asia Pacific
* Latin America
* Middle East & Africa

North America Next-Generation Personalized Beauty Market, by Country, 2024-2031 (Value US$ Mn)

* U.S.
* Canada

Europe Next-Generation Personalized Beauty Market, by Country, 2024-2031 (Value US$ Mn)

* Germany
* France
* Italy
* Spain
* Russia
* Rest of Europe

Asia Pacific Next-Generation Personalized Beauty Market, by Country, 2024-2031 (Value US$ Mn)

* India
* China
* Japan
* South Korea
* Australia & New Zealand

Latin America Next-Generation Personalized Beauty Market, by Country, 2024-2031 (Value US$ Mn)

* Brazil
* Mexico
* Rest of Latin America

Middle East & Africa Next-Generation Personalized Beauty Market, by Country, 2024-2031 (Value US$ Mn)

* GCC Countries
* South Africa
* Rest of Middle East & Africa

Why should buy this report:

* To receive a comprehensive analysis of the prospects for the global Next-Generation Personalized Beauty market
* To receive an industry overview and future trends of the Next-Generation Personalized Beauty market
* To analyze the Next-Generation Personalized Beauty market drivers and challenges
* To get information on the Next-Generation Personalized Beauty market value (US$Mn) forecast to 2030
* Significant investments, mergers & acquisitions in the Next-Generation Personalized Beauty market industry

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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