The AI-Based Beauty Product Market is Predict to reach USD 12.2 Billion by 2031, at a CAGR of 17.7%

AI-Based Beauty Product Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global AI-Based Beauty Product Market size is expected to reach $12.2 billion by 2031, rising at a market growth of 17.7% CAGR during the forecast period.

The Online Retail segment is generating the highest revenue in the Global AI-Based Beauty Product Market by Distribution Channel in 2023; thereby, achieving a market value of $7.4 billion by 2031. Online retail platforms offer global reach, allowing consumers worldwide to access AI-based beauty products regardless of geographic location. Consumers can browse extensive product selections, compare options, and purchase from the comfort of their homes or on-the-go via smartphones and computers.

The Premium & Luxury segment is capturing a CAGR of 17.2% during (2024 - 2031). Premium and luxury beauty brands leverage AI to innovate formulations with advanced ingredients and technologies that deliver superior results. AI-powered algorithms optimize ingredient combinations, assess efficacy through predictive analytics, and refine product formulations based on scientific research and consumer feedback. These technological advancements ensure that AI-based beauty products in the premium segment offer cutting-edge innovations and effective solutions for skin health, anti-aging benefits, and aesthetic enhancement.

The Personalized Skincare segment is leading the Global AI-Based Beauty Product Market by Application in 2023; thereby, achieving a market value of $3.9 billion by 2031. AI technologies excel in analyzing large datasets and complex patterns related to skin health. AI-powered skincare applications can assess skin conditions such as acne severity, wrinkles, sun damage, and hydration levels based on images or user-provided data. This accuracy in diagnosis allows for targeted treatment recommendations and product suggestions that address the root causes of skincare concerns more effectively than traditional methods.

The Makeup segment is registering a CAGR of 17% during (2024 - 2031). AI-powered virtual try-on and AR technologies allow consumers to apply and visualize makeup products digitally in real-time. These tools analyze facial features, skin tone, and textures to simulate how different makeup shades and styles will look on an individual’s face. Virtual try-on experiences enhance the online shopping experience by reducing uncertainty and empowering consumers to make informed purchasing decisions without physically trying products in-store.

Full Report: https://www.kbvresearch.com/ai-based-beauty-product-market/

The North America region dominated the Global AI-Based Beauty Product Market by Region in 2023; thereby, achieving a market value of $4.1 billion by 2031. The Europe region is poised to grow at a CAGR of 17.5% during (2024 - 2031). Additionally, The Asia Pacific region would CAGR of 18.2% during (2024 - 2031).

List of Key Companies Profiled

• L'Oreal S.A.
• The Estee Lauder Companies, Inc.
• Johnson & Johnson
• Coty, Inc.
• Shiseido Company Limited
• Givaudan S.A.
• Chanel S.A.
• FOREO AB

AI-Based Beauty Product Market Report Segmentation

By Distribution Channel

• Online Retail
• Offline Retail
• Subscription Services

By End User

• General Consumer
• Premium & Luxury
• Professional
• Others

By Application

• Personalized Skincare
• Virtual Makeup Try-On
• Hair Analysis and Styling
• Beauty Enhancement
• Others

By Product Type

• Skincare
• Makeup
• Haircare
• Beauty
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America AI-Based Beauty Product Market Size | 2031

• July-2024
• 112 Pages

LAMEA AI-Based Beauty Product Market Size, Trends Report 2031

• July-2024
• 125 Pages

Europe AI-Based Beauty Product Market Size, Growth 2031

• July-2024
• 124 Pages

Asia Pacific AI-Based Beauty Product Market Size | Share 2031

• July-2024
• 125 Pages