Global Artificial Intelligence (AI) In Beauty and Cosmetics Market

Report ID : 1051 | Published : 2021-07-20 | Pages: 140 | Format: PDF/EXCEL

The beauty and cosmetic industry is experiencing a huge upsurge in the use of Artificial Intelligence (AI). Artificial Intelligence enables the industry to leverage the business by using various applications including developing recommendation engines to find new potential consumers, augmented reality & virtual mirrors enable consumers to select the best product as per their requirements and natural language which is personal beauty assistance expected to create the lucrative opportunity near the future. For instance, Let’s Get Ready is a virtual personal beauty assistant that offers more than 2,000 combinations of makeovers based on individual data. Let’s Get Ready displays visual tutorials, curated looks, beauty tips, and recommended products.

Artificial Intelligence (AI) understands the data behind shopping habits that can be utilized to create virtual retail experiences by using digital platforms. Moreover, based upon similar products shoppers have viewed, liked, or purchased, Cosmetic companies can offer customized recommendations to consumers. Increasing in the e-commerce industry and technological advancement are expected to show lucrative growth in Artificial Intelligence in the beauty and cosmetic market. Moreover, an adaptation of these technologies by the cosmetic industry is expected to drive lucrative growth on market. For instance, at L’Oreal has developed an AI-based skin tracker sensor that can recommend the skin needs. The global artificial intelligence (AI) in beauty and cosmetics market size is expected to reach US$ XX million by 2030, growing at a CAGR of XX% over the forecast period. By region, North America dominates the market with a share of XX% of global artificial intelligence (AI) in the beauty and cosmetics market.


The global artificial intelligence (AI) in the beauty and cosmetics market is segmented on the basis of service/products, application, and region. Based on the service/products, the market is divided into personalized recommendation tools, performance marketing measurement platforms, demand forecasting & supply chain tools, real-time customer service platforms, and AI-based Beauty Devices. On the basis of application, the market is segmented into skincare, haircare, make-up, fragrances, and others. Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among that, Europe held the largest share of the market, followed by America and the Asia Pacific. On the other hand, North America is expected to dominate the market during the analysis of the forecast period.

The key players of this market include L’Oréal’s (Modiface, Hair Coach), Beiersdorf (NIVEA SKiN GUiDE), Olay (Skin Care App), Shiseido (Optune System), CRIXlabs (DBA Quantified Skin), Procter & Gamble (Opte Wand), Yours Skincare, My Beauty Matches, EpigenCare Inc., mySkin, Haut.AI, Luna Fofo, Revieve, ANOKAI. CA., Youth Laboratories, Pure & Mine, Glory Skincare, Nioxin, New Kinpo Group, Perfect Corp, Symrise (Philyra), Function of Beauty LLC, Coty Inc. (Rimmel), Estée Lauder, Sephora USA, Inc. (Virtual Artist), Spruce Beauty, Givaudan, Beautystack and Polyfins Technology Inc among others

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Artificial Intelligence (AI) in Beauty and Cosmetics Market Snapshot

Chapter 4. Global Artificial Intelligence (AI) in Beauty and Cosmetics Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Market Dynamics - Drivers

4.3. Challenges/Restraints

4.4. Market Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. COVID 19 Impact on Cosmetics Industry

Chapter 5. Market Segmentation 1: Service/Products Estimates & Trend Analysis

5.1. Service/Products & Market Share, 2019 & 2028

5.2. Market Size (Value)& Forecasts and Trend Analyses, 2019 to 2028 for the following Service/Products:

5.2.1. Personalized Recommendation Tools

5.2.2. Performance Marketing Measurement Platforms

5.2.3. Demand Forecasting and Supply Chain Tools

5.2.4. Real-time Customer Service Platforms

5.2.5. AI-based Beauty Devices

Chapter 6. Artificial Intelligence (AI) in Beauty and Cosmetics Market Segmentation 2: Applications Estimates & Trend Analysis

6.1. Applications Analysis & Market Share, 2019 & 2028

6.2. Market Size (Value) & Forecasts and Trend Analyses, 2019 to 2028 for the following Applications:

6.2.1. Skincare

6.2.2. Haircare

6.2.3. Make-up

6.2.4. Fragrances

6.2.5. Others

Chapter 7. Artificial Intelligence (AI) in Beauty and Cosmetics Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Service/Products, 2019-2028

7.1.2. North America Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Applications, 2019-2028

7.1.3. North America Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by country, 2019-2028

7.1.3.1. U.S.

7.1.3.2. Canada

7.2. Europe

7.2.1. Europe Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Service/Products, 2019-2028

7.2.2. Europe Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Applications, 2019-2028

7.2.3. Europe Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) by country, 2019-2028

7.2.3.1. Germany

7.2.3.2. Poland

7.2.3.3. France

7.2.3.4. Italy

7.2.3.5. Spain

7.2.3.6. UK

7.2.3.7. Rest of Europe

7.3. Asia Pacific

7.3.1. Asia Pacific Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Service/Products, 2019-2028

7.3.2. Asia Pacific Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Applications, 2019-2028

7.3.3. Asia Pacific Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) by country, 2019-2028

7.3.3.1. China

7.3.3.2. India

7.3.3.3. Japan

7.3.3.4. Australia

7.3.3.5. Rest of Asia Pacific

7.4. Latin America

7.4.1. Latin America Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Service/Products, 2019-2028

7.4.2. Latin America Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Applications, 2019-2028

7.4.3. Latin America Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) by country, (US$ Million) 2019-2028

7.4.3.1. Brazil

7.4.3.2. Rest of Latin America

7.5. MEA

7.5.1. MEA Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Service/Products, 2019-2028

7.5.2. MEA Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) estimates and forecasts by Applications, 2019-2028

7.5.3. MEA revenue Artificial Intelligence (AI) in Beauty and Cosmetics Market revenue (US$ Million) by country, (US$ Million) 2019-2028

7.5.3.1. South Africa

7.5.3.2. Rest of MEA

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances in Cosmetics Industry

8.2. Company Profiles

8.2.1. L’Oréal’s (Modiface, Hair Coach)

8.2.2. Beiersdorf (NIVEA SKiN GUiDE)

8.2.3. Olay (Skin Care App)

8.2.4. Shiseido (Optune System)

8.2.5. CRIXlabs (DBA Quantified Skin)

8.2.6. Procter & Gamble (Opte Wand)

8.2.7. Yours Skincare

8.2.8. My Beauty Matches

8.2.9. EpigenCare Inc.

8.2.10. mySkin

8.2.11. Haut.AI

8.2.12. Luna Fofo

8.2.13. Revieve

8.2.14. ANOKAI. CA.

8.2.15. Youth Laboratories

8.2.16. Pure & Mine

8.2.17. Glory Skincare

8.2.18. Nioxin

8.2.19. New Kinpo Group

8.2.20. Perfect Corp

8.2.21. Symrise (Philyra)

8.2.22. Function of Beauty LLC

8.2.23. Coty Inc. (Rimmel)

8.2.24. Estée Lauder

8.2.25. Sephora USA, Inc. (Virtual Artist)

8.2.26. Spruce Beauty

8.2.27. Givaudan

8.2.28. Beautystack

8.2.29. Beauty Matching Engine

8.2.30. Polyfins Technology Inc

8.3. List of Other Prominent Players

Global Artificial Intelligence (AI) in Beauty and Cosmetics Market Segmentation

 

Global Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) by Service/Product

  • Personalized Recommendation Tools
  • Performance Marketing Measurement Platforms
  • Demand Forecasting and Supply Chain Tools
  • Real-time Customer Service Platforms
  • AI-based Beauty Devices

Global Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) Based on Application

  • Skincare
  • Haircare
  • Make-up
  • Fragrances
  • Others

Global Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) Based on Region

Europe Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) by Country

  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

North America Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) by Country

  • U.S.
  • Canada

Asia Pacific Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) by Country

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

Latin America Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) by Country

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa Artificial Intelligence (AI) in Beauty and Cosmetics Market Revenue (US$ Mn) by Country

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

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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