USD 6.02 billion
Report ID: SQMIG30L2013 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 91 | Figures: 76
DNA-based Skin Care Products Market size was valued at USD 6.02 billion in 2021 and is poised to grow from USD 6.41 billion in 2022 to USD 9.61 billion by 2030, growing at a CAGR of 6.33% in the forecast period (2023-2030).
Personalizing the skincare routine using DNA mapping is helpful.Identification of hereditary skin issues is aided.Professionals recommended cosmetic items that assure effective compatibility with their genes following genetic testing.These tests are first carried out in a wellness centre, but for the convenience of the patient, they can also be performed at home.Numerous skin benefits of DNA-based skincare include the production of collagen, the reduction of inflammation, and an increase in the body's antioxidant capacity. Genetic testing is an appropriate alternative to traditional skincare practises because it is quick, convenient, and accurate. Due to rising consumer expenditure on cosmetics, the personal care sector is anticipated to have significant growth.
Demand for DNA-based skincare products is anticipated to rise as skin concerns become more widely known. Additionally, both small and large firms are contributing significantly to market growth with their promotional efforts and commercials.Over the projected period, the demand for the worldwide DNA-based skincare products market is anticipated to be driven by the rising trend of beauty products and consumer spending power on skin & personal care products.
US DNA-based Skin Care Products Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.02 billion
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Global DNA based skin care products market is segmented on the basis of product type, distribution channel, region. By Product, the market is sub-segmented into Serum, cream and Others. By distribution channel, the market is categorized into offline and online. By region, Asia Pacific, Europe, North America, Latin America, Middle East and Africa
DNA-based Skin Care Products Market Analysis by Product Type
Serums will hold the largest share in the global DNA-based skincare products market as serums have been gaining massive attention in current times. Due to the increased data capabilities and technology, consumers have the option to participate in the development of their personalised products, which facilitates the purchasing decision.
Consumers choose products that help them to fulfil their aesthetic objectives, and product customization options and services that serums provide.
DNA-based Skin Care Products Market Analysis by Distribution Channels
The offline distribution channel garnered the highest revenue share of the DNA-based skincare market. The market for DNA-based skincare is anticipated to grow quickly in the coming years due to factors like the growing consumer preference for testing their genes at wellness and health centres rather than at home using test kits.
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Globally, North America accounted for a large share in the global DNA based skin care products market. This trend can be attributed to the popularity of consumer driven, clean ingredient, and sustainable compositions in cosmetic sector in the region.
Furthermore, high purchasing power amongst regional population, presence of several well-established brands, and well-developed national economy of the United States are also some other factors driving the demand for products in the global DNA based skin care products market in North America in near future.
Europe is expected to rise in global DNA based skincare products market during the forecast period. Increasing willingness of regional consumers to pay for personalized skin care products is driving the growth in global DNA based skin care products market in this region.
Asia Pacific is expected to record substantial growth in the global DNA based skin care products market in coming years. Greater penetration of various e-commerce platforms such as Sephora and Amazon.com is also boosting the global DNA based skin care products market in this region.
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DNA-based Skin Care Products Market Drivers
Social Media Influence is the Biggest Factor for Growth of DNA based Skincare Products Market
DNA-based Skin Care Products Market Restraint
Cheaper Alternatives to Hinder Growth of DNA-based Skincare Products in Global Market
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The Global DNA based skin care products market is highly fragmented with the presence of several small and large market players operating all over the world.
Major companies of the market are implementing on several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio.
DNA-based Skin Care Products Market Top Players Company Profiles
DNA-based Skin Care Products Market Recent Developments
Global DNA-based Skincare Products Market will Witness Rising Trend of Natural Ingredients in Formulation
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, rising consumer spending has facilitated steady growth within the overall personal care industry in the recent past. This trend is particularly prominent within the young and millennial population demographic, driven by the demand to slow down as well as reduce the signs of aging.
This trend is further facilitated by constant and aggressive marketing, promotional, and advertising campaigns directed towards mass consumers.
Advancements in biomaterials and biotechnology will bring lucrative growth opportunities for players in the global DNA based skincare products market.
|Market size value in 2021||USD 6.02 billion|
|Market size value in 2030||USD 6.41 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global DNA-based Skin Care Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global DNA-based Skin Care Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global DNA-based Skin Care Products Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global DNA-based Skin Care Products Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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