Next-Generation Personalized Beauty Market Top Players - Ulta Beauty, Inc., Proven Skincare, BITE Beauty, Coty Inc., BASF Care Creations

Next-Generation Personalized Beauty Market worth $ 143.6 Billion by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " "Next-Generation Personalized Beauty Market by Product Types (Skincare, Haircare, Make-up, Fragrances, Others), Application (Consultation/digital questionnaires, Apps and specialized hardware, Home test kits, Others) - Market Trends, Competitive Landscape, Revenue and Forecast To 2030."
InsightAce Analytic's most recent research report estimates that the global market for next-generation personalized beauty will be worth US$ 41.9 billion in 2021 and grow at a compound annual growth rate (CAGR) of 15.3% from 2022 to 2030 to reach US$ 143.6 billion.

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Conventional multipurpose goods can be replaced with personalized beauty products. It involves using a person's lifestyle and genetic information to create personalized beauty products for them. Teenagers need advice and experience to help them navigate the beauty market because of their knowledge ofbeauty is continuously growing andtheir buttons are constantly shifting. Skincare, haircare, fragrances, makeup, and other customized items are all part of next-generation personalized beauty. In order to provide consumers with the most relevant components, skincare brand Proven claims to integrate customer data into its AI platform. This data includes details on over 100,000 items, 4,000+ scientific articles, 8M+ testimonials, and more.
Additionally, businesses are increasingly attempting to differentiate and personalize their offerings. Nevertheless, the Next Generation Personalized Beauty Market benefits from COVID-19. Because consumers are more focused on the necessities of personal care and beauty items, as well as consumer goods in general, the demand for wellness and self-care products has surged duringthe COVID-19 epidemic. A PowerReviews research published in February 2021 found that customers are now 40% more willing than they were before to the epidemic to try new beauty items.the to try new beauty items .

The market is expected to rise as a result of the growing trend in the beauty sector, as well as increased awareness of customised beauty products that cater to individual beauty needs. It is anticipated that technological developments in custom beauty products will propel the market further. The impact of COVID-19 reveals that companies in the beauty sector will soon attract and win over both new and current clients. Collaboration between brands, consultants, and retailers through data sharing and inventory pooling will advance the use of AI for testing, discovery, and customisation. This trend is also anticipated to increase significantly over the course of the forecast period.
In terms of market share, Europe was the largest regional market in the global market, followed by America and Asia Pacific. However, during the study of the projection period, North America is anticipated to lead the market.

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Next-Generation Personalized Beauty market reports feature prominent players like Ulta Beauty, Inc., Proven Skincare, BITE Beauty, Coty Inc., BASF Care Creations, Curology, Estée Lauder Inc., Function of Beauty, insitU Cosmetics Ltd., FitSkin Inc., Krigler, Kiehl's Apothecary Preparations, CODAGE, SkinCeuticals Custom D.O.S.E., SKINSHIFT, FitSkin Inc., DermaCare Skin Inc., eSalon, Romy Paris, Duolab, Prose, Nomige, Atolla, Ave & Edam, Preemadonna Inc., Laboté, Orig3n, Skin Authority, NU SKIN, IOMA Paris, Sephora, SKINTELLI, AN EPIGENCARE BRAND , SkinAI LLC (Our Skin) , L'Oréal S.A., L'Occitane Groupe SA, Unilever PLC, Kendo Holdings, Inc., Preemadonna Inc., Shiseido Company, Limited, Amorepacific Corporation and Other Prominent Players.

Key developments in the market:
• In Sept 2021, Coty, Inc. revealed a multi-channel partnership contract with Perfect Corp. Through this partnership, Company plans to reinforce its offering in virtual try-on, online skin diagnostics and data-driven personalization for brands consisting of CoverGirl, Sally Hansen and philosophy, as well as for Coty's broad fragrance portfolio.
• In Aug 2021, Sephora relaunched its in-store color IQ foundation matching service with new artificial intelligence technology to find the best foundation match for the customers. It includes scanning the skin with a unique lens that leverages AI (computer vision). Sephora also installed a digital mirror at its flagship store in Madrid to deliver personalized recommendations through AI.
• In Aug 2021, Function of Beauty acquired Atolla; the expansion revolutionizes beauty through customization and data science.
• In 2020, Loreal unveiled Perso for skincare; this 3-in-1 device will be able to create custom formulas for lipstick and foundation.

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Market Segments

Next-Generation Personalized Beauty Market by Product Revenue (US$ Billion) Forecast 2019-2030
• Skincare
• Haircare
• Make-up
• Fragrances
• Others

Next-Generation Personalized Beauty Market Based on Application Revenue (US$ Billion) Forecast 2019-2030
• Consultation/digital questionnaires
• Apps and specialized hardware
• Home test kits
• Others

Next-Generation Personalized Beauty Market, by Region, 2019-2030 (Value US$ Bn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Next-Generation Personalized Beauty Market, by Country, 2019-2030 (Value US$ Bn)
• The U.S.
• Canada
Europe Next-Generation Personalized Beauty Market, by Country, 2019-2030 (Value US$ Bn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Next-Generation Personalized Beauty Market, by Country, 2019-2030 (Value US$ Bn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Next-Generation Personalized Beauty Market, by Country, 2019-2030 (Value US$ Bn)
• Brazil
• Mexico
• Rest of Latin America
The Middle East & Africa Next-Generation Personalized Beauty Market, by Country, 2019-2030 (Value US$ Bn)
• South Africa
• GCC Countries
• Rest of the Middle East & Africa

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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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