Press release
AI In Beauty And Cosmetics Market 2024 - Business Opportunities, Industry Growth, Regional Analysis And Forecast To 2033
AI In Beauty And Cosmetics Market
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=10556&type=smp
According to The Business Research Company's, The AI in beauty and cosmetics market size has grown exponentially in recent years. It will grow from $3.27 billion in 2023 to $3.97 billion in 2024 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to personalized beauty recommendation, skin analysis and diagnostics, virtual makeup artists, social media influences, enhanced customer engagement.
The AI in beauty and cosmetics market size is expected to see rapid growth in the next few years. It will grow to $8.1 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to AI in product formulation, ai-generated content creation, AI in augmented reality (AR) shopping, smart beauty devices, data-driven personalization, AI in sustainability practices. Major trends in the forecast period include color-matching technologies, virtual try-on technologies, personalized beauty recommendations, chatbots for customer support, AR-based beauty content creation.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/ai-in-beauty-and-cosmetics-global-market-report
Market Drivers and Trends:
The growing demand for personalized beauty and cosmetic products is expected to propel the growth of AI in the beauty and cosmetics market going forward. Personalized beauty and cosmetic products are customized to each customer's unique needs and tastes, including ingredients, textures, perfumes, and packaging. AI is significant in generating personalized beauty and cosmetic experiences by utilizing data analysis, picture recognition, formulation optimization, and virtual try-on technologies. For instance, in April 2023, according to statistics sourced from Euromonitor International 2023 published on the official website of the International Trade Administration, U.S. Department of Commerce, beauty and personal care sales in China hit $88 billion in 2021, a 10% increase over the previous year. Therefore, the growing demand for personalized beauty and cosmetic products is driving the growth of AI in the beauty and cosmetics market.
Technological advancements are a key trend gaining popularity in the AI in beauty and cosmetics market. Companies operating in AI in the beauty and cosmetics market are adopting new technologies to sustain their position in the market. For instance, in January 2023, The Estée Lauder Companies, Inc., a US-based makeup, skincare, fragrance, and hair care product manufacturer and marketer, launched a Voice-Enabled Makeup Assistant (VMA) application. VMA uses voice teaching technology to aid users in applying makeup. The users receive audio feedback and tips when applying lipstick, eyeshadow, or foundation evenly. ELC VMA detects makeup on a user's face and uses artificial intelligence to estimate uniformity, application threshold, and coverage. VMA identifies all areas of the face that require a more precise application and sends a strong message where touch is needed.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Procter & Gamble Company, Pure & Mine, L'Oréal S.A., Sephora Inc., Beiersdorf AG, Shiseido Co. Ltd., InsightAce Analytic, Elizabeth Arden Inc., OpenAI LP, GAN-powered solution, Anokai, EpigenCare Inc., Novi, Perfect Corp., ChatGPT, Lottie London, Banuba Inc., Luna Fofo, Revieve, Ciaté London, mySKIN, Haut.AI, YOUS Skincare, My Beauty Matches, Youth Laboratories, Brand Agency London, Econsultancy, Opte Wand, Perso Limited
AI In Beauty And Cosmetics Market 2024 Key Insights:
• The AI in beauty and cosmetics market size is expected to see rapid growth in the next few years. It will grow to $8.1 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%.
• Surging Demand For Personalized Beauty Spurs Growth In AI-Driven Beauty And Cosmetics Market
• Technological Advancements With Voice-Enabled Makeup Assistant
• North America was the largest region in the AI in beauty and cosmetics market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=10556&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release AI In Beauty And Cosmetics Market 2024 - Business Opportunities, Industry Growth, Regional Analysis And Forecast To 2033 here
News-ID: 3772696 • Views: …
More Releases from The Business research company
Leading Companies Reinforce Their Presence in the Blanket Market
The blanket market is steadily gaining traction as consumers increasingly seek comfort and style in their home essentials. With evolving preferences and technological advancements, this sector is set to experience consistent growth. Let's explore the current market value, key players, emerging trends, and the main segments fueling this expansion.
Forecasted Blanket Market Size and Growth Trajectory
The blanket market has seen consistent growth over recent years. From a market size…
Global Trends Review: The Rapid Evolution of the Sporting and Athletic Goods Mar …
The sporting and athletic goods market is experiencing steady growth, driven by evolving consumer preferences and technological advancements. As health and wellness continue to gain importance globally, this market is set for notable expansion in the coming years. Let's explore the current market size, key factors fueling its growth, leading companies, major trends, and segmentation details.
Forecast for Sporting and Athletic Goods Market Size Through 2029
The sporting and athletic…
Train Seat Market Overview, Key Growth Factors, and Insights on Top Players
The train seat industry is experiencing notable growth, driven by advancements in technology and increasing demand for improved passenger comfort. As rail travel evolves, so does the need for innovative, efficient, and adaptable seating solutions that cater to modern requirements. Let's explore the current market status, key players, trends, and segments shaping the future of train seating.
Train Seat Market Size and Growth Expectations
The train seat market has seen…
Leading Companies Solidifying Their Presence in the Spunbond Nonwovens Market
The spunbond nonwovens industry has been experiencing notable growth and shows promising prospects for the coming years. This expanding market is being driven by several innovations and increasing demand across diverse sectors, signaling a robust future.
Projected Growth and Market Size of the Spunbond Nonwovens Market
The spunbond nonwovens market has demonstrated solid expansion recently, with its size expected to rise from $15.57 billion in 2024 to $16.59 billion in…
More Releases for Beauty
Logunova Beauty Salon Announces Health-Conscious Beauty Innovation at Los Angele …
Logunova Beauty Salon revolutionizes the Los Angeles beauty industry through health-conscious innovations, international expertise, and comprehensive luxury services that set new standards for client wellness and aesthetic excellence in Downtown Los Angeles.
Downtown Los Angeles experiences a significant wellness transformation with Logunova Beauty Salon's announcement of health-conscious beauty innovations that redefine industry standards throughout the California market. The premier beauty salon [https://www.google.com/maps?&q=beauty+salon&cid=6449958440430743645] continues to establish new benchmarks for luxury beauty services…
Beauty Subscription Boxes Market Size in 2023 To 2029 | Boxycharm, Ipsy Glam Bag …
This Beauty Subscription Boxes research report highlights on the main market players increasing in the market; it follows their business approaches, economic position, and future products. High growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for…
Beauty Tech on the Rise : Beauty Devices Market
The global Beauty Devices Market market is estimated to attain a valuation of US$ 48.8 Bn by the end of 2023, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 6% during the forecast period, 2023-2031.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders…
Beauty Devices Market: Growing Applications of Beauty Devices in Healthcare to D …
Beauty devices are made and sold for the purpose of enhancing the physical attractiveness of users. These devices come in handy and are very useful for the cosmetic usage area including skin related issues, such as acne, wrinkles and scars usage areas among others. The market for beauty device is expected to witness huge growth due to changing consumer psyche towards beauty and wellness and increasing prevalence of age-related skin…
Global Beauty Instrument Market Growth Will Escalate Rapidly till 2024 by Top Ve …
Global Beauty Instrument Market brings a systematic perspective of the market execution in worldwide and additionally the regional situation. In a detailed sections shrewd arrangement, the Beauty Instrument contemplate that make sense of different perspectives relating to the global market. To begin with, the Beauty Instrument market definition, applications, arrangement, and industry esteem chain structure are incorporated into the answer, to target gathering of people on restricting Beauty Instrument market…
Global Beauty Instrument Market 2018 Stryker, Medtronic, Johnson & Johnson, Beau …
Beauty Instrument Market Summary
Global Beauty Instrument Market Size, Share, Growth, Trends, Regional Outlook, and Forecasts, 2018 - 2025' to its vast database of research reports. This intelligence study focuses on the current market trends and development patterns, in order to assist the new entrants in discovering market opportunities and develop effective ways to expand their presence in the global market.
Get a Sample PDF Report : https://is.gd/tjJnMl
This research report provides…
