LONDON, May 11, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the next-generation personalized beauty market, growing consumer concern about skin issues such as acne, cold sores, blisters and hives across the globe is helping to drive the growth of the next-generation personalized beauty market. Skin conditions can be temporary or permanent, painless or painful, and situational or genetic. With the increasing number of skin disorders, people are becoming more aware of their skin and are opting for personalized services and products to overcome skin problems. According to the 2020 Medscape report, approximately 50 million Americans experience acne each year, with 80% of Americans experiencing acne at some point in their lives. In addition, approximately 50 million men and 30 million women suffer from hair loss due to skin diseases. Skin diseases rank fourth among the most common causes of all human diseases, affecting approximately one-third of the world’s population. Rising consumer skin concerns demand more personalized solutions, driving the next-generation personalized beauty market.
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The global next-generation personalized beauty market share is expected to grow from $29.25 billion in 2021 to $37.72 billion in 2022 at a compound annual growth rate (CAGR) of 11.87%. The growth of the next-generation personalized beauty industry is mainly driven by companies resuming operations and adapting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and closure of business activities which have resulted in operational challenges. The market should reach $51.64 billion in 2026 to CAGR of 12.08%.
Strategic partnership and collaboration with other companies to expand their product portfolios is gaining popularity among next-generation personalized beauty market trends. For example, in April 2021, Revieve, a US-based company that offers personalized products, services and treatments, entered into a partnership with BABOR, a Germany-based company that offers personalized skin care solutions. to its customers. In July 2021, AptarGroup, Inc., the American personal care, beauty and pharmaceutical company, entered into a strategic collaboration with Yan An Tang, a China-based company that offers customized and personalized skin care products, nursing programs and one-on-one skincare consultations.
Key Players in Next Generation Personalized Beauty Market Analysis are Ulta Beauty, Proven Skincare, BITE Beauty, Curology, Estée Lauder, Coty, insitU Cosmetics, FitSkin, Krigler, Kiehl’s Apothecary Preparations, CODAGE, SkinCeuticals Custom DOSE, SKINSHIFT, The Buff, DermaCare Skin, eSalon, Romy Paris, Duolab, Prose, Nomige, Atolla, Ave & Edam, Preemadonna, Laboté, Orig3n, Skin Authority, NU SKIN, IOMA Paris, Sephora and SKINTELLI.
The global next-generation personalized beauty market is segmented by product into skin care, hair care, makeup, fragrances, others; by application in consultation/digital questionnaires, specialized apps and materials, home test kits, etc.
Regions covered in the Global Next Generation Personalized Beauty market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the Next Generation Personalized Beauty market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, Korea of the South, the United Kingdom and the United States.
The Global Next Generation Personalized Beauty Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the personalized beauty market Next Generation, Next Generation Personalized Beauty Market Analyze and forecast market size and growth for overall market, Next Generation Personalized Beauty Market segments and geographies, market trends Next Generation Personalized Beauty, Next Generation Personalized Beauty Market Drivers, Next Generation Personalized Beauty Market Constraints, Next Generation Personalization Key Competitors Revenue, Profiles and Market Share of the beauty market in more than 1,000 industry reports, covering more than 2,500 seg market segments and 60 geographical areas.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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