Skin Care Is a Personal Matter
The Global Market Revolving Around Personalised Product Solutions Is Growing
Demand for personalised skincare products will continue to grow worldwide. Grand View Research is specialised in industry market analysis and has forecasted an annual growth rate of 8 per cent until 2030. The sector is currently already worth around 26.2 billion US dollars, according to the analysts. They see advancing technological solutions as one of the greatest driving forces. Additionally, the market researchers note that skin diseases are becoming increasingly common, leading consumers to search for solutions for their specific skin problems.
Market Leaders Are Preparing to Meet the Demand
The analysts observe that market leaders in particular are increasing their activities in the area of personalised skin care. This includes mergers and acquisitions as well as the development of new products and the improvement of existing ones. First and foremost, their activities are focused on products that are tailored to the particular needs of the individual and product lines that cover the entire range of skincare needs for different skin types and conditions.
Consumers Love to Create Personal Products
Finally, so-called "co-creation" is another hot trend in the market for personalised skincare products, according to the market researchers. This concept allows consumers at sales counters in shops to combine ingredients themselves and create a custom-tailored product. Similarly, demand is increasing for various kinds of tests, surveys and questionnaires. With the consent of consumers, these serve to create data profiles which can then be used to develop or recommend suitable skincare products. For the DNA-based testing segment alone, Grand View Research anticipates an annual growth rate of 8.8 per cent until 2030.
Source: Grand View Research