The DNA-Based Skincare Market is expected to be worth US$ 4,733.8 million in 2022, rising to US$ 4,907.7 million in 2023. According to Future Market Insights, the DNA-based skincare market will grow at a CAGR of 5.3% between 2023 and 2033, totaling around US$ 8,192.3 million by 2033.
DNA skincare products use information gathered from the person’s genetic makeup for prescribing its products, which helps to know the adverse effects of routine to counteract.
Boost in demand for health and wellness products is estimated to propel the growth of the DNA-based skin care products market going forward. Living a healthy lifestyle improves a person’s appearance and well-being, and the health of the skin is an indicator of a person’s overall health.
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Key Takeaways:
- Anticipated size of the DNA-based skincare market in 2017 was US$ 4,178.1 million.
- Global DNA-based skincare market grew at a CAGR of 2.5% between 2017 and 2022.
- North America is anticipated to generate the largest DNA-based skincare market share of 37.6% in the upcoming years.
- Demand for natural and organic products in Europe has been fueled by the increase in consumer awareness about the risks of adopting skincare products having synthetic chemicals holding a market share of 25.5%.
- Under product type, creams dominate the market with a share of 56.2%.
- Under distribution channel, the offline distribution channel has a major position in the market with a market share of 68.8%.
“Desire to slow down the signs of aging among millennials is one of the major drivers of the DNA-based skincare market”, comments a Future Market Insights analyst.
Market Competition :
The global market is highly fragmented with the presence of various international and domestic companies. Many companies are gradually shifting towards artificial intelligence to provide individualized suggestions and track daily skin changes to react to the shift in lifestyles. Meanwhile, some of the other key players are striving to develop DNA testing kits for customers to enable them to make informed decisions associated with their genetic composition.
- Gi Picco’s, a manufacturer of cosmetic powders in Europe, was purchased by MS Beautilab. The acquisition of Italy’s Gi Picco’s Cosmetics by the Swiss-French subcontractor has resulted in the improvement of its product line and has completed its historical by marking a significant milestone in the company’s expansion strategy.
- Milk Makeup and Obagi Cosmeceuticals LLC were acquired by Waldencast Acquisition Corp.
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Key Segments Profiled in the DNA-Based Skin Care Industry Survey :
By Product Type:
- Serums
- Creams
- Others
By Distribution Channel:
- Offline
- Online
By End Use:
- Home User
- Wellness Clinics
- Salons
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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