The Latin America, Middle East and Africa DNA-based Skin Care Products Market would witness market growth of 14.4% CAGR during the forecast period (2021-2027).
The concept of DNA-based skincare has been driven by the search for hyper-personalized beauty. The constant developments of genetic science tools and technologies are supporting the evolution of the DNA-based skincare products market. Improvements in genetics and genetic testing are constantly widening the understanding of genetic makeup for tailored skincare. DNA-based skincare products generally encompass a blend of eye creams, serum, cleansers, and moisturizers formulations.
The popular concept of one-size-fits-all mentality in beauty items is getting more prevalent among consumers which defined the shifting consumer inclinations toward skincare products. Companies operating in the personal care market have leveraged genetic science research in beauty items in the last couple of years. Moreover, it has assisted researchers in understanding the genes that play role in pigmentation, sagging skin, and other changes regarding the aging process.
The penetration of luxury and high-end products is less in various countries of this region. Moreover, there are many countries wherein people have low purchasing power, resulting in low sales of DNA-based skincare products. Moreover, DNA testing is quite expensive which is not affordable by the majority of people.
The majority of DNA-based organizations have been creating awareness about DNA-based skincare products with the help of digital and social media campaigns as modern consumers are tech-savvy and looking for products that are customized to their needs. Hence, these factors would create conducive environment for the growth of the regional DNA-based skincare market.
The Creams market dominated the South Africa DNA-based Skin Care Products Market by Products in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $65.5 million by 2027. The Other Products market is expected to witness a CAGR of 16.3% during (2021 - 2027).
Based on Products, the market is segmented into Serums, Creams, and Other Products. Based on Distribution Channels, the market is segmented into Online and Offline. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global DNA-based Skin Care Products Market is Predict to reach $11 Billion by 2027, at a CAGR of 11%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Imagene Labs Private Limited (Asia Genomics), Caligenix, Inc., EpigenCare Inc. Allogenic AB (ALLéL®), LifeNome Inc., SkinDNA Clinics, Anake, Skinshift, and DNA Skin Institute.
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