Next-Generation Personalized Beauty Global Market Analysis, Trends, Growth, Research And Forecast 2033

The next-generation personalized beauty market size has grown rapidly in recent years. It will grow from $37.78 billion in 2023 to $43.26 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to advertising & promotional activities, strong economic growth in emerging markets and rising disposable income.

The next-generation personalized beauty market size is expected to see rapid growth in the next few years. It will grow to $74.71 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to rapid urbanization, rapid growth in ecommerce and tech savy customers and companies. Major trends in the forecast period include advertising & promotional activities, strong economic growth in emerging markets and rising disposable income.

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.

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Surging E-Commerce Demand Fuels Next-Generation Personalized Beauty Market Growth
Increasing demand from e-commerce companies for consumer goods to cater to the growing demand from end customers is expected to increase the demand for personal hygiene products and drive the demand for next-generation personalized beauty during the forecast period. The e-commerce sector relies heavily on logistic delivery providers, who are currently being serviced by logistic companies. According to the US Department of Commerce Retail Indicator Division, e-commerce sales were $870 billion in the US in 2021, a 14.2% increase over 2020. With reduced delivery times and leaner supply chains, the demand for last-mile delivery in e-commerce is expected to drive the demand for consumer goods, thus generating demand for next-generation personalized beauty. With consumers 40% more eager to explore new beauty products and brands than they were before the pandemic, a solid digital strategy is critical to maximizing brand discovery potential. Virtual storefronts have aided in the transformation of e-commerce from static product catalogs to dynamic, changing locations that seem much more like something you may encounter in a physical store-a significant competitive advantage for online beauty firms. Hence, the growing e-commerce market is expected to drive demand for the next-generation personalized beauty market.

Competitive Landscape -
Major companies operating in the next-generation personalized beauty market report are 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

Strategic Collaborations Propel Innovation And Growth In The Next-Generation Personalized Beauty Market
Companies in the next-generation personalized beauty market are strategically partnering and collaborating with other companies to broaden their product portfolios and expand their next-generation personalized beauty products. For example, in April 2021, Revieve, a US-based company engaged in offering personalized products, services, and treatments, entered into a partnership with BABOR, a Germany-based company offering customized skin care solutions to its customers. In July 2021, AptarGroup, Inc., a US-based personal care, beauty, and pharmaceutical company, entered into a strategic collaboration with Yan An Tang, a China-based company that offers customized, personalized skincare products, nursing programs, and one-on-one skincare consultations.

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Key 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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