AI In Beauty And Cosmetics Market Forecast 2023-2032: Market Size, Drivers, And Trends

The AI In Beauty And Cosmetics Global Market Report 2023, provides comprehensive information on the AI in the beauty and cosmetics market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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As per The Business Research Company’s AI In Beauty And Cosmetics Global Market Report 2023, the market size is expected to grow from $2.68 billion in 2022 to $3.27 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global AI in beauty and cosmetics market size is expected to reach $6.8 billion in 2027 at a CAGR of 14.4%.

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Technological advancements are a key trend gaining popularity in the AI in beauty and cosmetics market. Companies operating in AI in the beauty and cosmetics market are adopting new technologies to sustain their position in the market. For instance, in January 2023, The Estée Lauder Companies, Inc., a US-based makeup, skincare, fragrance, and hair care product manufacturer and marketer, launched a Voice-Enabled Makeup Assistant (VMA) application. VMA uses voice teaching technology to aid users in applying makeup. The users receive audio feedback and tips when applying lipstick, eyeshadow, or foundation evenly. ELC VMA detects makeup on a user’s face and uses artificial intelligence to estimate uniformity, application threshold, and coverage. VMA identifies all areas of the face that require a more precise application and sends a strong message where touch is needed.

The AI in the beauty and cosmetics market is segmented:

1) By Type: Personalized Recommendation Tools, Performance Marketing Measurement Platforms, Demand Forecasting And Supply Chain Tools, Real-Time Customer Service Platforms, AI-Based Beauty Devices

2) By Distribution Channel: Specialist Retail Stores, Supermarkets And Hypermarkets, Convenience Stores, Pharmacies, Drug Stores, Online Retail, Other Distribution Channels

3) By End-User: Skincare, Haircare, Make-up, Fragrances, Other End-Users

North America was the largest region in the AI in the beauty and cosmetics market in 2022.

The table of contents in TBRC’s AI in the beauty and cosmetics market report includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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