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INDUSTRIES
&
MARKETSBeauty
Tech:
market
data&
analysisMarket
Insightsreport2023Table
of
ContentsOverviewSummary567MarketDefinitionKeyTakeawaysMarket
NumbersRevenue9AverageRevenue
per
Capita12AppendixProductOverviewAuthor16172MARKET
INSIGHTSThis
report
is
part
ofour
Market
Insights
productGainabetterunderstandingofmarketsacross190+
geographicalentities
–
onaglobal,
regional,country,
and/orstatelevel.
Accessourdatavia
webinterface,download(XLS,
PDF,PPT),or
reports.Benefitfromour48-hourcustomerservice
guarantee.•
10
sectors:
advertising&media,consumers,countries,digital
sector,finance,health,
industrialsector,mobility,andtechnology•
1,000+
markets,
e.g.,
FinTech,Food,or
Robotics•
KPIs,
e.g.,
revenue,marketshares,prices,andvolume•
Features:Compare
countries®ions,
change
currencies,
selectvisualizations,
and/or
customize
downloads•
Usecases:
sales
planning,
investment
decision
support,resourceallocation,andportfolio
management10sectors190+geographicalentities1,000+markets400+reportsFind
out
more
on:https://www.Goto
Market
Insightscom/outlook/3CHAPTER
1OverviewThe
Beauty
Tech
market
will
grow
fast
in
the
futureOverview:
SummarySummaryBeautyTech
market
in2022
reached
to
7.88
billion
USD.
Thisis6.9%
lessthantheprevious
year’s
revenue.
TheUnited
Statesrecorded
thehighestrevenue,
andJapan,China,
India,and
SouthKorea
followed.
Oftop
20
countries
inrevenue.Indiaisreported
ashavinghighestgrowth
andArgentina,Indonesia,
and
Brazilfollowed.
While
the
growth
rate
hasdecreased
last
two
years,
itwill
reach
to10.39billion
USDin2028.5Sources:Market
Insights
2023Beauty
Tech
is
an
important
part
of
the
Beauty
&
Personal
Care
marketOverview:
Market
DefinitionMarket
definitionBeauty
tech
refers
to
theintersection
oftechnology
and
thebeautyindustry.Itencompasses
theuseof
advancedtechnologies,
suchasartificial
intelligence
(AI),augmented
reality
(AR),andtheInternet
ofThings(IoT),
to
enhance
andrevolutionize
various
aspects
ofthebeautyandcosmetics
sector.
Beauty
techinvolves
thedevelopment
andapplicationof
digital
tools
and
devices
thataimtoenhancebeauty-related
experiences,
improve
skincare
routines,
and
providepersonalized
beauty
solutions.Following
the
above-mentioned
definition
of
beautytech,ourresearch
focuses
onpersonalized
cosmetics-related
products
and
smart
skincare
devices.
Themarketdata
only
covers
theB2C
market.
Revenue
isestimated
andbased
onwhere
thetransaction
occurs.
TheBeauty
Techpageprovides
market
insights,highlightingchangesinrevenue
trends,users,
and
average
revenue
peruser.L’Oréal,
forexample,
haslaunchedalipstickprinter,
called
Rouge
Sur
Mesure,which
generates
acustom-made
lipstickshadeatthetouchof
abutton,
with
thededicated
apprecommending
alipstickshadeor
users
selecting
theirpreferredcolor.
Anotherwell-known
beauty
techproduct
isLunaFofo,asmart
skincaredevice
invented
bytheSwedish
companyForeo.
Itisanelectronic
facialcleansingbrushthatincludesaskinanalysisfunction.Thanksto
theiradvanced
technology,these
productsenable
consumers
tohavenew
beauty-related
experiences.6Sources:Market
Insights
2023Beauty
Tech
accounted
for
1.4%
of
the
Beauty
&
PersonalCare
market
revenuein
2022Overview:
Key
Takeaways
and
inscope
/outof
scopeKeyTakeawaysInscopeOutof
scopeRevenue
intheBeauty
Tech
market
amountstoUS$8.15bn
in2023.
Themarket
isexpected
togrow
annuallyby4.98%
(CAGR2023-2028).Thismarket
includes:Thismarket
excludes:Inglobalcomparison,
most
revenue
isgenerated
intheUnited
States(US$1,379min2023).•
Personalized
cosmetics
devices•
ARbeauty
apps•
Nailcare
products•
Hairand
ora
careproductsInrelation
to
totalpopulation
figures,per
person
revenues
of
US$1.06
aregenerated
in2023.•Smart
beautymirrors•B2B
products•
Smart
skincare
devices7Sources:Market
Insights
2023CHAPTER
2Market
NumbersBeauty
Tech
revenues
are
estimated
to
increase
at
a
CAGR(1)
of
4.1%
from2018to
2028Market
Size:
Globalrevenue
forecast
inbillionUS$+4.1%(1)10.399.829.519.348.888.468.468.157.887.236.92201820192020202120222023202420252026202720289Notes:(1)
CAGR:
Compound
Annual
GrowthRateMarket
Insights
2023Sources:With
revenue
of
US$
4.01
billion,
Asia
is
the
biggest
market
among
selectedregions
in
2022Market
Size:
Regional
Comparison
(1/2)revenue
forecast
inbillionUS$+6.1%(1)5.74.0+3.1%(1)+2.7%(1)2.32.11.91.8+16.1%(1)+3.8%(1)0.120280.10.20.1202220282022202220282022202820222028EuropeAfricaAmericasAsiaAustralia&Oceania10
Notes:Sources:(1)
CAGR:
Compound
Annual
GrowthRateMarket
Insights
2023With
revenue
of
US$
1.35
billion,
the
United
States
is
the
biggest
market
amongselected
countries
in
2022Market
Size:
Regional
Comparison
(2/2)revenue
forecast
inbillionUS$+2.3%(1)+6.0%(1)1.61.51.41.1+1.6%(1)+2.6%(1)+0.7%(1)0.30.30.30.30.30.32022202820222028202220282022202820222028ChinaUnited
StatesUnited
KingdomGermanyFrance11
Notes:Sources:(1)
CAGR:
Compound
Annual
GrowthRateMarket
Insights
2023Beauty
Tech
average
revenue
per
user
is
estimated
to
increase
at
a
CAGR(1)
of3.3%
from2018
to
2028Market
Size:
Globalarpuforecast
inUS$+3.3%(1)1.31.31.21.21.11.11.11.11.01.00.92018201920202021202220232024202520262027202812
Notes:Sources:(1)
CAGR:
Compound
Annual
GrowthRateMarket
Insights
2023With
average
revenue
per
user
of
2.8,
Australia
&
Oceania
is
the
biggest
marketamong
selected
regions
in
2022Market
Size:
Regional
Comparison
(1/2)arpuforecast
inUS$+2,4%(1)3,26+2,8%(1)2,83-7.2%(1)2,492,111.90+5.4%(1)1.221.210.89+13,4%(1)0,1020280,05202220282022202220282022202820222028EuropeAfricaAmericasAsiaAustralia&Oceania13
Notes:Sources:(1)
CAGR:
Compound
Annual
GrowthRateMarket
Insights
2023With
average
revenue
per
user
of
4.0,
United
States
is
the
biggest
marketamong
selected
countries
in
2022Market
Size:
Regional
Comparison
(2/2)arpuforecast
inUS$+1.9%(1)+0.5%(1)+2.3%(1)+1.7%(1)4.54.54.44.34.14.03.73.8+6.0%(1)1.10.72022202820222028202220282022202820222028ChinaUnitedStatesUnitedKingdomGermanyFrance14
Notes:Sources:(1)
CAGR:
Compound
Annual
GrowthRateMarket
Insights
2023CHAPTER
3AppendixMARKET
INSIGHTSMarket
Insights
–
market
data,forecasts,
and
qualitative
insightsGainabetterunderstandingofmarketsacross190+
geographicalentities
–
onaglobal,regional,country,
and/orstatelevel.Access
ourdatavia
web
interface,
download(XLS,
PDF,PPT),
orreports.Benefitfromour
48-hour
customerservice
guarantee.•
10
sectors:
advertising&media,consumers,countries,digital
sector,finance,health,
industrialsector,mobility,andtechnology•
1,000+
markets,
e.g.,
FinTech,Food,or
Robotics•
KPIs,
e.g.,
revenue,marketshares,prices,andvolume•
Features:Compare
countries®ions,
change
curren
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