Emerging Growth Patterns Driving the Expansion of the Next-Generation Personalized Beauty Market

The personalized beauty industry is undergoing a remarkable transformation as technology and consumer preferences evolve. With increased interest in bespoke skincare and makeup solutions, the next-generation personalized beauty market is set to expand significantly. Here, we explore the anticipated market size, key players, emerging trends, and the main product and application segments shaping this innovative sector.

Projected Market Size and Growth Outlook for the Next-Generation Personalized Beauty Market
The next-generation personalized beauty market is poised for rapid expansion in the coming years. Forecasts indicate it will reach a value of $97.1 billion by 2030, growing at a robust compound annual growth rate (CAGR) of 14.8%. This surge is driven by several factors, including advancements in AI-powered beauty diagnostics, a growing consumer preference for hyper-personalized products, the rise of direct-to-consumer beauty brands, increased use of home test kits, and a stronger focus on personalized wellness and self-care. Key trends during this period include heightened demand for customized skincare, widespread adoption of at-home beauty solutions, a growing emphasis on data-driven beauty consultations, expansion of personalized haircare and makeup products, and greater consumer attention to individual skin and hair profiles.

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Primary Factors Fueling Growth in the Next-Generation Personalized Beauty Market
One major driver behind this market's growth is the increasing popularity of AI-based technologies that provide tailored beauty diagnostics and recommendations. These innovations allow consumers to receive highly customized solutions based on their unique skin and hair characteristics.
Additionally, the growing direct-to-consumer model is enabling brands to connect more closely with customers, offering personalized products and services that cater to specific beauty needs. This approach strengthens customer loyalty and drives market expansion.

Key Players Leading the Next-Generation Personalized Beauty Industry
Several influential companies currently dominate the next-generation personalized beauty landscape. Notable names include Function of Beauty, Prose, Curology, Hims & Hers Health Inc., Proven Skincare, Skin Inc., Codage Paris, insitU Cosmetics Ltd., esalon, Revieve, Atolla, Yours Custom Beauty, Mixik Skin, Bare Anatomy, Skinsei, Norell Personalized Skincare, Formula Fig, Skinshift, Strands Hair Care, Skin Authority, HiMirror, and Shiseido Optune.
In a significant development, US-based biotech firm Oddity acquired Revela for $76 million in May 2023. This strategic move aims to bolster Oddity's therapeutic pipeline, speed up next-generation biologics development, enhance R&D capabilities, and solidify its position in the biotechnology industry. Revela specializes in advanced biotechnological platforms focused on precision medicine and targeted therapies.

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Emerging Trends Shaping the Next-Generation Personalized Beauty Market
Innovations centered around artificial intelligence are at the forefront of new product development in this sector. AI-powered platforms utilizing computer vision technology analyze multiple visual data points to offer highly personalized product recommendations, enhancing user experience and satisfaction.
For example, in June 2024, UK-based consumer goods giant Unilever launched BeautyHub PRO, an AI-driven platform that evaluates up to 30 visual indicators to deliver tailored product suggestions across several Unilever beauty brands. This cutting-edge solution not only improves the customer journey but also supports growth by providing more precise and effective beauty recommendations.

Breakdown of Key Segments in the Next-Generation Personalized Beauty Market
The market is segmented by product type into skincare, haircare, makeup, fragrances, and other products.
Applications include digital consultations or questionnaires, apps and specialized hardware, and home test kits.
Distribution channels cover online/direct-to-consumer platforms, specialty stores and salons, and dermatology clinics.
Further subcategories within skincare consist of moisturizers, serums, cleansers, exfoliants, masks, and treatments. Haircare is divided into shampoos, conditioners, treatments, and styling products. Makeup segments include foundation, lip products, eye products, blush, and highlighters. Fragrances cover perfumes and body mists. Other products encompass beauty tools and accessories, sun care, men's grooming products, and personalized beauty devices.

Looking ahead, the next-generation personalized beauty market is set to continue its rapid innovation and expansion, driven by technological advancements and evolving consumer expectations.

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