Global artificial intelligence (AI) in beauty and cosmetics market is anticipated to grow at a significant CAGR of 19.6% during the forecast period (2024-2031). AI-powered skincare tools use computer vision and machine learning algorithms to analyze skin conditions, provide personalized skincare recommendations, and enable virtual try-ons and makeup simulations. It additionally analyze skin tone, undertones, and other factors to recommend personalized makeup shades. AI-powered recommendation engines analyze consumer data to provide personalized product suggestions. AI technologies aid in ingredient analysis and formulation optimization, supporting beauty companies develop innovative products. AI-driven chatbots and virtual advisors provide personalized beauty advice and answer product-related questions. Facial recognition technology tracks skin condition changes, enabling users to monitor skincare effectiveness.
Recent developments in the market:
· In January 2023, Estée Lauder Companies launched its Voice-Enabled Makeup Assistant (VMA) app, an AI-powered mobile app designed to assist visually impaired users in applying makeup more confidently.
· In September 2022, Perfect Corp launched new AI tech that enables beauty brands to make personalised product recommendations tailored to consumers’ personality traits. A new addition to his suite of AI and AR-powered SaaS solutions.
· In December 2021, Nykaa launched AI-powered virtual try-on tech'ModiFace' for beauty shoppers. The ModiFace's virtual try-on technology utilizes an advanced face tracker algorithm to provide a real-time, true-to-life view of virtual cosmetics for safety and hygiene in the post-pandemic globe.
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• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
Segment Covered-
· By Product
· By Application
Regions Covered-
• North America
• Europe
• Asia-Pacific
• Rest of the World
Competitive Landscape- Aiir Ltd.,Perfect Corp., HiMirror, L’Oréal S.A, and Unilever Group among others.
Artificial Intelligence (AI) In Beauty and Cosmetics Market Report Segment
By Product
• Personalized Recommendation Tools
• Performance Marketing Measurement Platforms
• Demand Forecasting and Supply Chain Tools
• Real-time Customer Service Platforms
• AI-based Beauty Devices
By Application
• Skincare
• Haircare
• Make-up
• Fragrances
• Others (Nail Care,Oral Care, and Body Care)
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Artificial Intelligence (AI) In Beauty and Cosmetics Market Report Segment by Region
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
• Latin America
• Middle East and Africa
Company Profiles
• Aiir Ltd.
• Amorepacific Corp.
• Beiersdorf AG
• Coty Inc.
• Estée Lauder Co.
• FOREO
• HiMirror
• Johnson & Johnson Services, Inc.
• L’Oréal S.A
• Meitu, Inc.
• ModiFace Inc.
• Nu Skin Enterprises Inc.
• Perfect Corp.
• Posh, Inc.
• Proven
• Revieve
• Shiseido Cosmetics
• SkinVision
• Unilever Group
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