Global Next-Generation Personalized Beauty Market Size 2024, Forecast To 2033
11 Mar, 2024
The next-generation personalized beauty market has witnessed rapid growth, escalating from $37.78 billion in 2023 to $43.26 billion in 2024, reflecting a compound annual growth rate (CAGR) of 14.5% during the historic period. This growth is attributed to advertising and promotional activities, strong economic growth in emerging markets, and rising disposable income. Moving into the future, the market is anticipated to experience rapid growth, reaching $74.71 billion in 2028 at a CAGR of 14.6%. Contributing factors include rapid urbanization, rapid growth in e-commerce, tech-savvy customers, and companies. Key trends in the forecast period encompass advertising and promotional activities, strong economic growth in emerging markets, and rising disposable income.
Global Next-Generation Personalized Beauty Market Key Driver
The demand for next-generation personalized beauty products is set to rise with increasing demand from e-commerce companies for consumer goods. E-commerce, heavily reliant on logistic delivery providers, experiences substantial growth, as seen in the US, where e-commerce sales reached $870 billion in 2021, a 14.2% increase over 2020. The demand for last-mile delivery in e-commerce is expected to drive the demand for consumer goods, fostering the need for next-generation personalized beauty. With consumers showing a 40% increased eagerness to explore new beauty products and brands, a solid digital strategy becomes essential. Virtual storefronts further enhance the e-commerce experience, transforming it into dynamic, changing locations resembling physical stores. The growing e-commerce market is anticipated to drive demand for the next-generation personalized beauty market, with market sizes in 2023, 2024, and 2028 being significant metrics for its development.
Get A Free Sample Of The Global Next-Generation Personalized Beauty Market ReportGlobal Next-Generation Personalized Beauty Market 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
By Geography:The regions covered in the next-generation personalized beauty market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
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.
Major Next-Generation Personalized Beauty Industry Players
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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Next-Generation Personalized Beauty Market Overview
The next-generation personalized beauty is involved in personalized beauty. Next-generation personalized beauty includes products and services that are personalized or designed according to the needs of every individual. Next-generation personalized beauty products can be found in various ranges, from skincare such as body lotions and creams, and creams to haircare and makeup.
Next-Generation Personalized Beauty Global Market Report 2023 provides data on the global next-generation personalized beauty market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The next-generation personalized beauty market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.