Next-Generation Personalized or customized beauty products are emerging technologies that form an alternative to conventional “one size fits all” products. Companies involved in the manufacturing of personalized beauty products utilize the genetic information and behavior of a person to design customized beauty products for the consumer. Next-Generation Personalized Beauty includes various tailored products such as Skincare, Haircare, Make-up, Fragrances, and Others. The global Next-Generation Personalized Beauty market size is expected to reach US$ 143.6 Billion by 2030, growing at a CAGR of 15.3% over the forecast period of 2022-2030. By region, In 2021, Europe dominates the market with a share of 45% of the global Next-Generation Personalized Beauty market. Germany and France are the key markets holding the majority of the market for Next-Generation Personalized Beauty in the region.
The growing trend in the beauty industry is primarily driving market growth. Rising awareness about personalized beauty products and a growing shift towards customized products based on unique beauty requirements is also expected to fuel the market growth. The increasing consumer expenditure and rising technological innovation in product manufacturing are further projected to drive market growth. In recent years, Rapid Development in genomic sciences to study genetics and characteristics of an individual have to facilitate customized beauty product is expected to show significant market opportunities in upcoming years.
The global Next-Generation Personalized Beauty market is segmented on the basis of product, application, and region. Based on the products, the market is divided into Skincare, Haircare, Make-up, Fragrances, and Others. On the basis of application type, the market is segmented into Consultation/digital questionnaires, Apps and specialized hardware, Home test kits, 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 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 IOMA Paris, BITE Beauty, Curology, Coty Inc., Estée Lauder Inc., insitU Cosmetics Ltd., FitSkin Inc., Ulta Beauty, Inc., Krigler, Kiehl’s Apothecary Preparations, SkinCeuticals Custom D.O.S.E., Function of Beauty, The Buff, DermaCare, Skin Inc., eSalon, Romy Paris, CODAGE, Duolab, Prose, Nomige, Atolla, Ave & Edam, Preemadonna Inc., Laboté, Orig3n, SKINSHIFT, Skin Authority, NU SKIN, Sephora, SKINTELLI, AN EPIGENCARE BRAND, Proven Skincare, SkinAI LLC (Our Skin), and Other Prominent Players