Industry Overview
AI in beauty and cosmetics market is rising at a CAGR of 19.6% during the forecast period (2025-2035). Increased demand for personalized beauty and cosmetics products is anticipated to drive the growth of AI in the beauty and cosmetics market in the future. Personalized beauty and cosmetic products are tailored to the individual needs and preferences of each customer, ranging from textures, perfumes, ingredients, and packaging. AI plays a large role in the creation of customized beauty and cosmetic experiences by applying data analysis, formulation optimization, image recognition, and virtual try-on technologies. For instance, in August 2024, as per the International Trade Administration US government agency with more than 60% of Vietnamese customers applying skincare products every day, indicating strong demand. Q and Me conducted a 2022 study and discovered that 95% of women between the ages of 25 and 45 used these products on a regular basis, spending an average of 740,000 VND (approximately $30) per month. Thus, increasing demand for customized beauty and cosmetics products is pushing the development of AI in beauty and cosmetics market.
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Recent Developments
- In June 2024, the Estée Lauder Companies Inc., acquired DECIEM Beauty Group Inc. for an amount not disclosed. By this acquisition Estée Lauder aims to boost its skincare offerings and reach younger customers by acquiring DECIEM, tapping into its innovative approach for international expansion. DECIEM Beauty, combines AI to personalize products, improve development, optimize inventories, and deliver better customer experiences in the beauty market.
- In April 2024, Estée Lauder Companies (ELC) and Microsoft declared a strategic collaboration to introduce an AI Innovation Lab. Fueled by Microsoft’s Azure OpenAI Service, this collaboration is set to accelerate innovation for 20+ prestige beauty brands of ELC. The areas of emphasis include improving engagement, consumer experiences, and faster product delivery.
Some of the Key Companies in the AI in Beauty and Cosmetics Market include-
- Aiir Ltd.
- AOI Tea Company
- Aiya America, Inc.
- Amorepacific Corp.
- Beiersdorf AG
- Coty Inc.
- Estée Lauder Co.
- FOREO
- HiMirror
- Jade Leaf LLC
- Johnson & Johnson Services, Inc.
- L’Oréal S.A
- Meitu, Inc.
- ModiFace Inc.
- Nu Skin Enterprises Inc.
- Perfect Corp.
- Proven Skincare
- Revieve
- Shiseido Cosmetics
- SkinVision
- Unilever Group
AI in Beauty and Cosmetics Market Segmentation Analysis
Global Artificial Intelligence in Beauty and Cosmetics Market by Product Type
- Personalized Recommendation Tools
- Performance Marketing Measurement Platforms
- Demand Forecasting and Supply Chain Tools
- Real-time Customer Service Platforms
- AI-based Beauty Devices
Global Artificial Intelligence in Beauty and Cosmetics Market by Application
- Skincare
- Haircare
- Make-up
- Fragrances
- Others (Nail Care, Oral Care, and Body Care)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN Economies (Singapore, Thailand, Vietnam, Indonesia, and Other)
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Anurag Tiwari
Director Sales Division
+91 780-304-0404
info@omrglobal.com
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