Global Personalized Skin Care Products Market Size, Share, and COVID-19 Impact Analysis, By Product (Face Care and Body Care), By Gender (Male and Female), By Type (Mass and Premium), By Distribution Channel (Online and Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Personalized Skin Care Products Market Insights Forecasts to 2033

• The Global Personalized Skin Care Products Market Size Was Estimated at USD 28.12 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 9.27% from 2023 to 2033
• The Worldwide Personalized Skin Care Products Market Size is Expected to Reach USD 68.24 Billion By 2033
• Asia Pacific is Expected to Grow the fastest during the Forecast Period.

The Global personalized skin care products Market Size Was Worth around USD 28.12 Billion in 2023 and is predicted to Grow to around USD 68.24 Billion By 2033 With a Compound Annual Growth Rate (CAGR) of 9.27% Between 2023 and 2033. Growing healthcare costs will push producers to employ state-of-the-art technology and offer specialized products and services. New product creation, mergers and acquisitions, and innovation in current products are just a few of the moves that the market's top companies are taking.

Market Overview

The global market for personalized skin care products is the industry that focuses on creating, manufacturing, and marketing skincare products that are customized to each person's unique skin type, issues, and preferences. Skin analysis, genetic information, lifestyle, and environmental conditions are some of the variables that are frequently used to tailor these goods. Furthermore, the industry for customized skin care products is being actively supported by governments throughout the world through a number of programs meant to promote accessibility and innovation. Startups in the beauty and wellness industry are supported by initiatives like Startup India in India, which help companies like Vedix and SkinKraft prosper by utilizing customized skincare products. The governments of nations such as the United States and Europe are also placing a strong emphasis on biotechnology and artificial intelligence research and development, as these technologies are essential for personalizing skincare products. These initiatives are improving consumer choices, influencing the direction of the industry, and encouraging developments in the customized beauty market.

Report Coverage

This research report categorizes the personalized skin care products market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the personalized skin care products market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the personalized skin care products market.  

Driving Factors

The increasing prevalence of skin conditions including rosacea, eczema, and acne is driving up demand for tailored skin care products. Environmental pollution, food, stress, and changing lifestyles are some of the factors contributing to the increase in dermatological issues.  In an effort to find more targeted and effective treatments, consumers have switched from generic products to skin care options that are tailored to their own skin needs.

Restraining Factors

A number of barriers may prevent the market for personalized skin care products from growing further, despite its optimistic trend. Because of the high costs of customized formulas and testing, some buyers may find bespoke items less accessible due to concerns about pricing.

Market Segmentation

The personalized skin care products market share is classified into product, gender, type, and distribution channel.

• The face care segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.

Based on the product, the personalized skin care products market is divided into face care and body care. Among these, the face care segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. This is because they nourish, heal, and improve the quality of the skin, face care products are an essential component of many people's routines. Social media platforms like Facebook, Instagram, and others have made the usage of face care products common among people of all ages. Sunscreen is among the most popular and suggested face care products.

• The female segment accounted for the majority share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the gender, the personalized skin care products market is divided into male and female. Among these, the female segment accounted for the majority share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growing demand for customized skin care products among women is primarily due to their need for products that cater to their specific needs.  The segment's rise has also been aided by a narrowing of the spending gap between conventional and personalized skin care product usage.

• The mass segment dominated the market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the type, the personalized skin care products market is divided into mass and premium. Among these, the mass segment dominated the market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The global consumer base's strong desire for the use of customized skincare products is a major driver of the market's expansion. Large quantities of customized skincare products are readily available both online and offline, and they are reasonably priced.

• The offline segment led the highest share in 2023 and is expected to grow at a notable CAGR during forecast period.

Based on the distribution channel, the personalized skin care products market is divided into online and offline. Among these, the offline segment dominated the market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Customers can purchase a range of products from this channel under both local and international names. Located in the heart of the city, offline channels like supermarkets and hypermarkets are easily accessible to customers. Because these channels give them access to a wide variety of companies, consumers typically purchase skincare items through them.

Regional Segment Analysis of the Global Personalized Skin Care Products Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is anticipated to hold the largest share of the global personalized skin care products market over the predicted timeframe.

Europe is anticipated to hold the largest share of the personalized skin care products market over the predicted timeframe.  The region's high emphasis on digital transformation and implementation of Industry practices are responsible for this dominance.  Furthermore, the need for automation and innovation in skincare solutions, including customized products, has been fueled by Europe's aging workforce.  The region's dominance in this sector is further reinforced by the widespread use of sophisticated technology and collaborative robots, or cobots.

Asia Pacific is expected to grow at a rapid CAGR in the personalized skin care products market during the forecast period. Growing industry digitization and government programs to boost competitiveness through innovation are the main drivers of this quick expansion. Advanced manufacturing technologies, including as AI-driven robotics and smart sensors, are being adopted at a rapid pace by nations like China and India. These technologies are essential to the customized skincare sector.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the personalized skin care products market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• PROVEN
• Function of Beauty
• L’Oréal Groupe
• Curology
• It’s The Buff
• The Estée Lauder Companies Inc.
• Amway Corp
• Coty Inc.
• AUGUST SKINCARE
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In November 2023, The All-In-One Personalized Serum was introduced by PROVEN Skincare, the leader in customized skincare. The serum provides specific advantages based on each person's particular skin requirements.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the personalized skin care products market based on the below-mentioned segments: 

Global Personalized Skin Care Products Market, By Product

• Face Care
• Body Care

Global Personalized Skin Care Products Market, By Gender

• Male
• Female

Global Personalized Skin Care Products Market, By Type

• Mass
• Premium

Global Personalized Skin Care Products Market, By Distribution Channel

• Online
• Offline

Global Personalized Skin Care Products Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa