Unlocking Personalized Beauty: The Rise of the Global Customized Skincare Market; Published by TNR, The Niche Research
Global Customized Skincare Market to Achieve US$ 61.2 Bn by 2034; from US$ US$ 25.5 Bn in 2023, Growing at 8.3% CAGR (2024 – 2034)
Wilmington, Delaware, May 08, 2024 (GLOBE NEWSWIRE) — The customized skincare market has witnessed significant growth and transformation in recent years, driven by evolving consumer preferences, technological advancements, and the increasing demand for personalized beauty solutions. Customized skincare refers to products and services tailored to individual skin types, concerns, and preferences, offering a more targeted approach to skincare routines. One of the primary drivers of the customized skincare market is the rising consumer awareness about the importance of skincare and the desire for effective solutions that address specific concerns. As individuals have become more educated about their skin health and beauty needs, they seek products that offer personalized benefits, whether it’s targeting acne, aging, hyperpigmentation, or sensitivity.
Global Customized Skincare Market Dynamics
Technological innovations have played a crucial role in shaping the customized skincare landscape. Advanced technologies such as artificial intelligence (AI), machine learning (ML), and data analytics enable brands to analyze vast amounts of consumer data to create bespoke formulations. AI-powered skin analysis tools can assess skin conditions and recommend personalized skincare routines, enhancing the overall customer experience. It has been reported that more than 35% brands are incorporating AI for product development, customer service, with an aim to achieve increased customer retention and satisfaction.
Customization trends extend beyond traditional skincare products to include personalized services and experiences. Beauty brands and skincare clinics offer personalized consultations, skin analysis, and custom-blended formulations tailored to individual needs. This personalized approach not only caters to specific skin concerns but also enhances customer engagement and loyalty.
Another key factor driving the growth of the global customized skincare market is the shift towards clean and natural beauty. Consumers are increasingly conscious about the ingredients in their skincare products, preferring formulations that are free from harmful chemicals and synthetic additives. In addition, the rise of D2C channels is further pushing customized skincare brands to focus on using natural, organic, and sustainably sourced ingredients to meet consumer demand for clean beauty solutions.
COVID-19 pandemic has accelerated the adoption of customized skincare as consumers prioritize self-care and wellness rituals at home. With more people spending time indoors, there has been a surge in DIY (Do-It-Yourself) skincare trends, where individuals create customized skincare products using online tutorials and ingredient databases.
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In terms of distribution channels, e-commerce platforms played a significant role in driving the growth of the customized skincare market during and post-pandemic period. Online retailers offer a wide range of personalized skincare products, along with convenient shopping experiences and delivery options, catering to the preferences of digitally savvy consumers.
Thus, the customized skincare market is poised for continued growth and innovation, driven by evolving consumer needs, technological advancements, and the growing emphasis on personalized beauty solutions. As brands continue to innovate and expand their offerings, customization trend is expected to reshape the future of skincare industry.
Key Takeaways of the Report: Global Customized Skincare Market
- Face care accounted for the highest share of the customized skincare market in 2023. This segment encompasses a wide range of products tailored specifically for facial skincare needs, including cleansers, moisturizers, serums, masks, and treatments. With face being a focal point of beauty and self-care, consumers prioritize personalized solutions to address concerns such as aging, acne, and hydration.
- The synthetic segment held a substantial share of the market in 2023 due to its versatility and cost-effectiveness in formulation. Synthetic ingredients offer wide range of functionalities, allowing skincare brands to create effective and stable products tailored to specific skin concerns. Additionally, advancements in cosmetic chemistry have led to the development of synthetic compounds that mimic natural ingredients, providing consumers with innovative solutions that deliver consistent results.
- Women consumers represent a significant segment in the customized skincare market, driving demand through their diverse skincare needs and preferences. With a growing emphasis on self-care and beauty routines, women seek personalized skincare solutions tailored to address specific concerns such as aging, acne, and hydration. Additionally, women’s increasing purchasing power and influence in the beauty industry further underscore their importance as key consumers driving innovation and growth within the customized skincare market.
- Oily skin emerged as the dominant skin type in the customized skincare market, capturing a significant revenue share of 38.2%. This is attributed to the growing consumer demand for products tailored to address excess oil production, acne, and related concerns. Skincare brands have responded by developing customized formulations with ingredients specifically targeted to regulate sebum production, mattify the skin, and minimize the appearance of pores, catering to the needs of individuals with oily skin.
- North America emerged as the leading region in the global customized skincare market in 2023. The region boasts a strong consumer base with high disposable income, a robust beauty industry infrastructure, and a culture that emphasizes skincare and personal grooming. Additionally, technological advancements, innovative product offerings, and aggressive marketing strategies by key players further contributed to North America’s dominance, resulting in a steady CAGR of 8.9%.
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Global Customized Skincare Market: Following are few of the major companies active within the global customized skincare market:
- A World Product Solutions Company (Evora)
- Bare Anatomy
- Clinique Laboratories, LLC
- Dermacare
- FitSkin Inc
- Function of Beauty
- INTERCOS S.P.A
- L’Oréal
- My Beauty Matches
- Neutrogena
- Other Industry Participants
Global Customized Skincare Market:
By Product Type
- Face Care
- Cleansers and Exfoliators
- Serums and Treatments
- Moisturizers and Sunscreens
- Face Masks
- Others
- Hair Care
- Shampoo
- Conditioner
- Hair Masks
- Hair Oil
- Others
- Body Care
- Body Mists
- Body Wash
- Handmade Soaps
- Silk Soaps
- Sugar Soaps
- Hand Care
- Others
By Ingredient Type
- Natural
- Synthetic
- Combination of Both
By Consumer Focus
- Women
- Men
- Unisex
By Skin Type
- Normal Skin
- Dry Skin
- Oily Skin
- Combination skin
By Application
- Acne
- Aging
- Dryness/Dehydration
- Hyperpigmentation
- Sensitivity/Irritation
- Rosacea
- Others
By Distribution Channel
- Online
- Offline
- Pharmacies
- Beauty Salons and Clinics
- Multi-brand Retailers
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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