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.
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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.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Product
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Aiir Ltd.,Perfect Corp., HiMirror, L’Oréal S.A, and Unilever Group among others.
Key questions addressed by the report.
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global 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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AI In Beauty and Cosmetics Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Aiir Ltd.
· Amorepacific Corp.
· Coty Inc.
· Estée Lauder Co.
· FOREO
· HiMirror
· Johnson & Johnson Services, Inc.
· L’Oréal S.A
· Meitu, Inc.
· ModiFace Inc.
· Nu Skin Enterprises Inc.
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
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