USD 18.87 billion
Personalized Skin Care Products Market Size, Share, Growth Analysis, By Product Type(Moisturiser, clean service, toner, serum), By Mode of purchase(Online and offline), By Skin type(Dry, oily combination, sensitive skin, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2112 |
Region:
Global |
Published Date: July, 2024
Pages:
198
|Tables:
92
|Figures:
76
Personalized Skin Care Products Market Insights
Personalized Skin Care Products Market size was valued at USD 18.87 billion in 2022 and is poised to grow from USD 20.70 billion in 2023 to USD 43.41 billion by 2031, at a CAGR of 9.7% during the forecast period (2024-2031).
Personalized Skin Care Products are becoming popular since they offer several advantages, such as a customized approach, higher efficacy, increased customer satisfaction, better brand loyalty, improved customer retention, and increase revenue.
One of the significant advantages of personalized skin care products is that they offer a customized approach to addressing an individual's skin concerns. Unlike mass-produced products, personalized skin care products are tailored to an individual's specific skin type, concerns, and needs. This customized approach ensures that the product is suitable for the individual and can provide the best possible results. The customization process begins with a consultation or skin analysis, where the individual's skin is assessed to determine their specific concerns and needs. Based on this assessment, the product is formulated with ingredients that specifically address those concerns and needs. For example, if an individual has dry skin, the product may contain ingredients that are specifically designed to hydrate and moisturize the skin. This approach ensures that the product is not only effective but also safe and suitable for the individual.
The effectiveness of personalized skin care products is due to the formulation of ingredients that specifically target an individual's skin concerns. For instance, if someone has acne-prone skin, their personalized skin care product might contain salicylic acid or benzoyl peroxide, which are known to reduce breakouts. In contrast, if someone has dry skin, their personalized skin care product might contain ingredients like hyaluronic acid, which helps to hydrate and plump the skin.By formulating skin care products with targeted ingredients, personalized skin care products can provide higher efficacy and better results than traditional, one-size-fits-all products. This tailored approach can also help to prevent adverse reactions and sensitivities, as the product is formulated to meet the individual's specific needs. Therefore, personalized skin care products offer a more effective solution that can help individuals achieve their skincare goals more efficiently, leading to higher customer satisfaction and loyalty.
US Personalized Skin Care Products Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Moisturizers.
Fastest Growth
Anti aging.
Growth Rate
9.7% CAGR
Global personalized skin care productsMarket 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Personalized Skin Care Products Market Segmental Analysis
Global Personalized Skin Care Products market is segmented based on type of product, mode of purchase, skin type, gender, age, and region. By type of product, the market is segmented into Moisturiser, clean service, toner, serum, face masks, and others. By mode of purchase, the market is segmented into Online and offline. By Skin type, the market is segmented into Dry, oily combination, sensitive skin, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Product
Moisturizers is a leading product type in the global market for personalized skin care products. They are designed to provide hydration and nourishment to the skin, helping to prevent dryness and maintain the skin's protective barrier. Additionally, moisturizers come in various formulations such as creams, lotions, gels, and serums, making them adaptable and suitable for diverse skin types.
The personalized anti-aging product segment is expected to experience substantial growth in the near future, driven by increasing demand for personalized skincare products that address specific concerns related to aging such as fine lines, wrinkles, and age spots. Other product segments that are also showing rapid growth include personalized skincare products for acne-prone skin, hyperpigmentation, and sensitive skin.
Global personalized skin care productsMarket By Product type 2021 (%)
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Personalized Skin Care Products Market Regional Insights
The personalized skin care product market in 2021 is seeing North America as the most dominant region, holding a significant share of the global market. Key factors driving growth in the region include the presence of major players, rising awareness among consumers about personalized skincare, and a growing preference for natural and organic ingredients.
Meanwhile, the Asia Pacific region is currently the fastest-growing market for personalized skincare products. The region is experiencing high demand due to its large population, increasing disposable incomes, and a rising awareness of skincare. Additionally, the presence of numerous local and international manufacturers, strong retail networks, and the popularity of K-beauty and J-beauty trends are contributing to the market's growth in the Asia Pacific region.
Global personalized skin care products market By Geography, 2021-2030
- Largest
- Fastest
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Personalized Skin Care Products Market Dynamics
Drivers
Rising Prevalence of Skin Diseases is Boosting Personalized Skin Care Products market
- The growing incidence of skin conditions like acne, rosacea, and eczema has resulted in an increased demand for personalized skincare products that are specifically designed to cater to these concerns for the global consumers.
Restraints
High Cost to Hinder Market Growth
- A significant obstacle facing the personalized skincare products market is the higher cost of personalized products compared to standard skincare products. The formulation and production of personalized skincare products are more complex, which can increase their cost, making them less affordable for a wider range of consumers. The higher prices of personalized skincare products may limit their accessibility, particularly for consumers with lower budgets, which could impact market growth. Despite the advantages of personalized skincare products, such as customized solutions and higher efficacy, the high cost remains a major restraint, and industry players will need to address this issue to broaden the market appeal of these products.
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Personalized Skin Care Products Market Competitive Landscape
The market for personalized skincare products is highly competitive and dynamic, with fresh entrants joining the market and established companies introducing new services and items. The market is marked by the existence of prominent brands that have a broad range of offerings and a solid reputation, as well as smaller firms that concentrate on specific niches within the market.
In order to keep up with the competition in the personalized skincare market, companies are investing significantly in research and development to create innovative products that are tailored to individual skin types, concerns, and preferences. Furthermore, businesses are utilizing cutting-edge technologies like artificial intelligence, machine learning, and big data analytics to provide customers with personalized skincare solutions.
In the personalized skincare market, marketing and branding activities are critical since companies strive to distinguish themselves and establish brand loyalty among consumers. Influencer marketing, social media campaigns, and partnerships with beauty professionals and dermatologists are just a few of the common techniques used by companies to achieve this goal.
Top Player’s Company Profiles
- L’Oréal SA
- Procter & Gamble Co.
- Unilever PLC
- Shiseido Company, Limited
- Estée Lauder Companies Inc.
- Johnson & Johnson Services, Inc.
- Kao Corporation
- Avon Products, Inc.
- Coty Inc.
- Colgate-Palmolive Company
- Beiersdorf AG
- Amway Corporation
- Henkel AG & Co. KGaA
- Revlon, Inc.
- Oriflame Holding AG
- Mary Kay Inc.
- Clarins SA
- Sephora USA Inc.
- The Body Shop International Limited
- The Estée Lauder Companies Inc.
Recent Developments
- Coty Inc. and Orveda, a French skincare company known for its ultra-premium products, teamed in November 2022. To help customers attain a healthy skin shine that surpasses makeup, the diversity-owned haute-professional skincare blends the best of nature with state-of-the-art biotechnology and dermatological benefits.
- In June 2022, DSM and Firmenich, two major players in the personal care industry, joined forces to combine their expertise and resources in scientific research and development in the field of beauty and wellness. Through a business combination agreement, the companies aim to establish themselves as the leading innovators in the industry by creating a new entity, DSM-Firmenich. The collaboration between the two industry giants seeks to bring together their strengths to become a leading partner in the creation and development of innovative beauty and wellness products.
Personalized Skin Care Products Key Market Trends
- There is a rising trend in the personalized skincare market towards utilizing technology and digital solutions, like artificial intelligence and machine learning, to examine skin data and develop customized skincare routines.
Personalized Skin Care Products Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
After analyzing the global market for personalized skincare products, we predict substantial growth during the forecast period due to various benefits it offers. These advantages include a tailored approach, higher effectiveness, increased customer satisfaction and loyalty, better brand retention, improved revenue, and an expanding market. The rising prevalence of skin conditions such as acne, rosacea, and eczema has contributed to the growing demand for personalized skin care products.
However, one major challenge that the personalized skin care industry faces is the higher cost of these products compared to standard skincare items. Customized skincare products require more complex formulations and production methods, which increase their production cost, making them less affordable for a wider consumer base.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 18.87 billion |
| Market size value in 2031 | USD 43.41 billion |
| Growth Rate | 9.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Personalized Skin Care Products Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Personalized Skin Care Products Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Personalized Skin Care Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Personalized Skin Care Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Personalized Skin Care Products Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Personalized Skin Care Products Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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