May 11, 2022 11:30 ET | Source: TBRC Business Research PVT LTD TBRC Business Research PVT LTD

LONDON, May 11, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the next-generation personalized beauty market, the growing concern of consumers regarding skin problems such as acne, cold sores, blisters, and hives across the globe is contributing to the growth of the next-generation personalized beauty market. Skin diseases can be temporary or permanent, painless or painful, and situational or genetic. With the increasing number of skin disorders, people are becoming more conscious of their skin and opting for personalized services and products to overcome skin problems. According to the Medscape 2020 report, approximately 50 million Americans suffer from acne each year, with 80 percent of Americans suffering from acne at some point in their lives. Further, around 50 million men and 30 million women are suffering from hair loss due to skin diseases. Skin diseases rank fourth among the most common causes of all human illnesses, which affect around one-third of the world’s population. The increase in skin problems among consumers is demanding more personalized solutions, driving the market for next-generation personalized beauty.

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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%. Next-generation personalized beauty industry growth is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $51.64 billion in 2026 at a CAGR of 12.08%.

Strategic partnership and collaboration with other companies to broaden their product portfolios is gaining popularity among next-generation personalized beauty market trends. 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., the 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.

Major players in the 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 D.O.S.E., 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 skincare, haircare, make-up, fragrances, others; by application into consultation/digital questionnaires, apps and specialized hardware, home test kits, others.

The regions covered in the global next-gen personalized beauty market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the 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, South Korea, UK, USA.

Next-Generation Personalized Beauty Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide next-generation personalized beauty market overviews, next-generation personalized beauty market analyze and forecast market size and growth for the whole market, next-generation personalized beauty market segments and geographies, next-generation personalized beauty market trends, next-generation personalized beauty market drivers, next-generation personalized beauty market restraints, next-generation personalized beauty market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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