Key insights and findings from the report:
The facial care segment had the largest share in 2022. The rise of personal care rituals, marketing strategies that emphasize the need for skin care regimens, coupled with an increase in skin conditions such as eczema, acne, sun spots and wrinkles are factors driving the growth of the segment.
The female gender remained the main growth driver of the overall market. Beauty trends made women more concerned about their appearance, as women continued to be the main target of marketing campaigns demanding gender-specific products for their skin. The increasing number of women in the labor market is driving demand for women-focused skin care products.
Mass products contributed the most to the market due to their easy availability on online and offline channels, increasing R&D and significantly lower prices.
The offline distribution channel had a significant share in 2022. This can be attributed to the wide variety of products and brands that customers can choose from. Consumers’ ability to compare a wide variety of products through channels such as online and the availability of sales staff to resolve consumer queries continue to aid in better purchasing decisions.
Other testing methods, including imaging, blood tests and quizzes, will dominate the 2022 market. Such ways allow customers to find the right products for their skin, at a much lower cost, and are being adopted by several brands to help consumers make better decisions. to take.
Read a 110-page market research report with TOC, “Personalised Skin Care Products Market Size, Share and Trends Analysis Report by Product (Facial Care, Body Care), by Gender, by Type (Mass, Premium), by Distribution Channel, by Test, by Region and Segment Forecasts, 2023 – 2030,” published by Grand View Research.
Personalized Skin Care Products Market Growth and Trends
Ingredients such as aloe vera, fish oil and jojoba oil are often used to make organic and natural skin care products. Growing consumer awareness about the negative effects of traditional, synthetic, chemical-laden products is expected to open new growth prospects for new raw materials and end products produced from organic/natural sources in the custom skin care market.
Likewise, customers are looking for beauty products personalized to their own requirements, which has increased the demand for personalization in the market. Consumers are better informed about their beauty needs due to the influx of information on social media and other online channels. They are the experts of their own skin, of their unique individual preferences, differences between a diverse group of people, and of wanting their needs met.
Artificial intelligence (AI) is changing the way consumers perceive and use beauty. To provide more customized beauty and wellness solutions to their customers, more and more multinational companies, such as Estée Lauder, L’Oréal and Procter & Gamble, are integrating emerging technologies such as AI and augmented reality (AR). For marketing purposes, the information produced by beauty apps is useful for cosmetic companies. Companies can determine what their customers need and want, thanks to the information they provide.
Demand for products is mainly driven by an aging population, an increase in the number of women entering the labor market and an increase in millennial consumers. In addition, the majority of Gen Z consumers (those between the ages of 18 and 24) prefer personalized recommendations as much as previous generations. There is an increasing demand for personalized skin care products across all age groups as consumers believe that different skin types, concerns, skin tones, favorite skin care ingredients and lifestyles require a tailored daily skin routine.
Geographical Segmentation of Personalized Skin Care Products
Grand View Research has segmented the global personalized skin care market based on product, gender, type, distribution channel, testing and region:
Personalized Skin Care Products Market – Outlook (Revenue, USD Million, 2017 – 2030)
Personalized Skin Care Market – Gender Outlook (Revenue, Million USD, 2017 – 2030)
Personalized Skin Care Products Market – Distribution Channel Outlook (Sales, Million USD, 2017 – 2030)
Personalized Skin Care Products Market – Outlook Type (Revenue, Million USD, 2017 – 2030)
Personalized Skin Care Products Market – Test Outlook (Revenue, Million USD, 2017 – 2030)
Personalized Skin Care Market – Regional Outlook (Revenue, Million USD, 2017 – 2030)
Central & South America
Middle East & Africa
List of the top players in the personalized skincare market
See more related studies published by Grand View Research:
Market for beauty and personal care products – The global market size for beauty and personal care products is expected to increase $937.1 billion by 2030 at a CAGR of 7.7% over the forecast period, according to a new report from Grand View Research, Inc. chemicals on the skin. The use of organically sourced ingredients in the formulation of cosmetics is likely to increase in the coming years. This, in turn, is expected to drive market growth over the forecast period.
Market for skin care products for the body – The global market size for body skin care products is expected to increase $40.23 billion register a CAGR of 5.9% over the forecast period by 2028, according to a new report from Grand View Research, Inc. Growing investment in R&D by various players to develop new products coupled with the increasing demand for body skin care products are likely to drive the market growth during the forecast period. Steadily rising income level also plays an important role in determining the purchase of skin care products for the body.
Market for dermo-cosmetic skin care products – The global market size for dermocosmetics skin care products is expected to increase $92.83 billion by 2030, a CAGR of 7.5% over the forecast period, according to a new report from Grand View Research, Inc. The overall growth of the industry is attributed to the rising demand for active ingredient skin care products. In addition, favorable marketing and promotional activities to increase product reach among targeted end-user segments are expected to drive growth. Manufacturers are launching a wide range of products in the hair and scalp care segment to meet rising customer demand, expanding the scope of dermocosmetic skin care products in the global market. For example indoors February 2021Eucerin, Beiersdorf’s dermo-cosmetics label, has expanded its sun protection portfolio with the introduction of the Actinic Control SPF100 to help prevent actinic keratosis and non-melanoma skin cancer.
Browse Grand View Research’s Beauty and personal care industry Research reports.
About Grand View research
Grand View Research, a US-based market research and advisory firm, provides both syndicated and custom research reports and advisory services. Registered in California and located in San Francisco, the company consists of more than 425 analysts and consultants and adds more than 1200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutions understand the global and regional business environment and gauge the opportunities ahead.
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SOURCE Grand View Research, Inc.