Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Beauty Tech Market Size is Expected to Grow from USD 56.38 Billion in 2023 to USD 278.24 Billion by 2033, at a CAGR of 17.31% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Beauty Tech Market Size, Share, and COVID-19 Impact Analysis, By Technology (Artificial Intelligence and Augmented Reality), By Product Category (Skincare Devices and Cosmetics), By End User (Individual Consumers, Beauty Salons & Spas, and Retail Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
The global beauty tech market refers to the industry that integration of modern technologies, including smart devices, augmented reality, and artificial intelligence (AI) in the beauty and personal care industry. By providing virtual try-ons, at-home beauty treatments, and customized skincare, this market promises to improve the customer experience. Beauty tech enables businesses to provide real-time skin analysis, personalized product recommendations, and immersive digital interactions, increasing the effectiveness and popularity of beauty routines. Key driving factors for the growth of the beauty tech market include the growing consumer demand for personalized beauty products, advances in augmented reality and artificial intelligence, and increasing acceptance of at-home cosmetic equipment. The adoption of tech-driven beauty products is further encouraged by digital platforms and social media influencers. However, the high price of innovative beauty tech equipment and products, combined with worries about data security and privacy, are significant barriers to their widespread adoption. Growth in emerging markets is frequently hampered by a lack of access and expertise.
The artificial intelligence segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of technology, the global beauty tech market is divided into artificial intelligence and augmented reality. Among these, the artificial intelligence segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is attributed to increasing consumer appetite for customized, tech-enabled beauty experiences and data-driven product recommendations, which contributes to demand for smart beauty diagnostics, personalized skincare, and real-time virtual try-ons.
The skincare devices segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of product category, the global beauty tech market is divided into skincare devices and cosmetics. Among these, the skincare devices segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The segment growth can be attributed to increasing consumer awareness of skin health, demand for personalized at-home treatments, and inclination for expensive equipment that focuses on aging, acne, and rejuvenation.
The individual consumers segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
On the basis of end user, the global beauty tech market is divided into individual consumers, beauty salons & spas, and retail stores. Among these, the individual consumers segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segment growth is driven by increasing acceptance of AI-powered gadgets that supply professional results without the demand for salon visits, growing behaviors in self-care, and the demand for accessible at-home beauty solutions.
North America is anticipated to hold the largest share of the global beauty tech market over the predicted timeframe.
North America is anticipated to hold the largest share of the global beauty tech market over the predicted timeframe. The regional market growth can be attributed to prominent businesses like Sephora and L'Oréal employing AI and AR early. Growth is supported by strong internet infrastructure, high consumer expenditure, and the widespread adoption of virtual try-on technologies. These developments enhance the region's market dominance, increase revenue, and enhance the customer experience.
Asia Pacific is expected to grow at the fastest CAGR in the global beauty tech market during the forecast period. The regional market growth is driven because of the increasing acceptance of virtual beauty programs, the pervasiveness of smartphones, and the rapid adoption of big data and AI for hyper-personalization. Growth is also supported by younger, tech-savvy populations, growing e-commerce, and strong consumer demand for wearable skincare and haircare products.
Company Profiling
Major vendors in the global beauty tech market are Dyson, Johnson & Johnson, Kao Corporation, L'Oreal S.A., Mary Kay Inc., Oriflame Holding AG, Panasonic, Procter & Gamble Co., Revlon, Inc., Sephora (LVMH subsidiary), The Estee Lauder Companies Inc., and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global beauty tech market based on the below-mentioned segments:
Global Beauty Tech Market, By Technology
Global Beauty Tech Market, By Product Category
Global Beauty Tech Market, By End User
Global Beauty Tech Market, Regional
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