Next-Generation Personalized Beauty Market Players Focus On Expansion Through Strategic Collaborations

Next-Generation Personalized Beauty Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Next-Generation Personalized Beauty Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, May 11, 2022 / — Companies in the next-generation personalized beauty market are strategically partnering and collaborating with other companies to broaden their product portfolios and expand their next-generation personalized beauty market products. 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.

In June 2021, Hims & Hers Health, Inc., a US-based company that offers personalized health and wellness services to customers through a multi-specialty telehealth platform, acquired Apostrophe for an undisclosed deal amount. Through the acquisition, Hims & Hers expands its capability to provide the most advanced and personalized dermatology treatments to consumers at a fast pace and on a larger scale. Apostrophe is a teledermatology company that offers personalized dermatology services to consumers by connecting them with its dermatologist.

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The global next-generation personalized beauty market size 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%. The growth in the market 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 global next-generation personalised beauty market share is expected to reach $51.64 billion in 2026 at a CAGR of 12.08%.

Major players covered in the global next-generation personalized beauty market industry 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.

Next-generation personalized beauty market research shows that 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 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 Next-generation personalized beauty market services and products to overcome skin problems. According to the Medscape report 2020, approximately 50 million Americans suffer from acne each year, with 80 percent of Americans having 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. According to TBRC’s global next-generation personalized beauty market analysis, the increase in skin problems among consumers is demanding more personalised solutions, driving the market.

TBRC’s global next-generation personalized beauty market report 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.

Next-Generation Personalized Beauty Global Market Report 2022 – By Product (Skincare, Haircare, Make-Up, Fragrances, Others), By Application (Consultation/Digital Questionnaires, Apps And Specialized Hardware, Home Test Kits, Others) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a next-generation personalized beauty market overview, forecast next-generation personalized beauty market size and growth for the whole market, next-generation personalized beauty market segments, geographies, next-generation personalized beauty market trends, next-generation personalized beauty market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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originally published at Business - Social Gov

This news story originally appeared at Business - Social Gov on16 May 2022