The global beauty subscription revenues were estimated at US$ 723.7 Million in 2022 and are anticipated to grow at a CAGR of 26.7% from 2023 to 2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach a valuation of US$ 10.2 Billion. The U.S. stands as a prominent market for beauty subscription demand and is expected to gross US$ 1.2 Billion by 2033.
The Social media influencers are highly influential in the beauty industry, and their endorsement of beauty subscription services can significantly influence consumer behavior. Many beauty subscription services work with influencers to promote their products and services, which can increase visibility and sales. For example, Orly, a nail care brand, collaborated with influencer Lisa Frank to launch a new collection together. In this collection, Orly introduced its new product, gel nail strips with motifs such as kitten bubbles, and spotty and dotty.
What’s driving this Beauty Subscription boom?
- Convenience and discovery: Busy consumers love the ease of trying new products without commitment, while discovering hidden gems they might miss otherwise.
- Personalized experiences: Boxes tailored to individual needs and preferences offer a more relevant and enjoyable beauty journey.
- Social media influence: Beauty influencers and online communities fuel excitement and discovery around subscription boxes.
- Rising disposable income: Growing economies see increased spending on personal care products, including subscriptions.
- E-commerce boom: Online platforms make subscribing easier and more accessible than ever before.
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Beauty subscription services often offer personalized product recommendations based on the customer’s skin type, hair type, and beauty goals, which are very appealing to millennials looking for products that meet their specific needs. Similarly, technological advancement and growing demand for male grooming products will significantly drive the beauty subscription market.
Competitive Analysis:
Key players in the Beauty Subscription Market are Ipsy, Lookfantastic, Walmart Beauty Box, Sephora, Hero Cosmetics, Boxy Charm, Macy’s, Honest, LiveGlam, Glossybox, Beautyfix by Dermastore, The Beard Club, Curology, Liberty beauty drop, Lip Monthly, Bath blessing, and Beautypie.
In January 2023, THG (The hut group) announced a collaboration with AND Digital to speed up and increase e-commerce solutions for clients. This collaboration will help brands to bring digital transformation, fulfill the digital skill requirement of brands, and use the e-commerce platform to its full extent.
In December 2022, Curology joined hands with Target.com to make its non-prescription products available in Target stores from January. This move is owing to the fact that many direct-to-customer brands are shifting to physical stores, especially through Target, Sephora, and Walmart. A significant number of Curology skincare products will be made available through Target stores.
In October 2022, Vanity Wagon, a clean beauty brand successfully received USD 2 million in funding led by Lotus herbals and Agility venture partner. The aim of raising this money was to enhance its marketing, technology, and sales strategies and to build a sustainable brand.
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In July 2022, The Allure store announced a collaboration with Ulta beauty, a beauty retailer. According to this collaboration, the customers of Allure will be provided Ulta beauty collections for a limited period. This collaboration will lead to the sales of both the companies in coming years.
Segmentation of the Global Beauty Subscription Market
By Subscription Type:
- Personalized Boxes
- Curated Boxes
By Delivery Frequency:
- Monthly
- Quarterly
- Half-Yearly
- Annually
By Product Type:
- Skincare
- Makeup
- Mixed Kit
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and 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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