PUBLISHER: Allied Market Research | PRODUCT CODE: 1344393
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344393
According to a new report published by Allied Market Research, titled, "Online Beauty And Personal Care Market," The online beauty and personal care market was valued at $54.2 billion in 2022, and is estimated to reach $161.4 billion by 2032, growing at a CAGR of 11.7% from 2023 to 2032.
Personalization provided by market participants is expected to drive market demand even higher because it provides consumers with a personalized shopping experience tailored to their specific needs and preferences. Online retailers use technologies such as artificial intelligence and machine learning to analyze consumers' browsing and purchase history, as well as demographic and psychographic data, to provide personalized product recommendations. When a consumer visits the website of an online beauty and personal care retailer, for example, they may be presented with a list of recommended products based on their browsing history and previous purchases. For example, Ipsy offers a variety of beauty and personal care products that are personalized based on the consumer's responses. These recommendations may also take into account the consumer's age, gender, skin type, and other preferences in order to recommend products that they are likely to be interested in. Personalization extends to other aspects of the shopping experience, such as product packaging, delivery options, and post-purchase communications. Retailers may offer personalized packaging options such as gift wrapping or personalized messages to add a personal touch to the product. They may also offer personalized delivery options, such as same-day delivery or pick-up from a nearby store, to provide convenience to the consumer. Personalization is a key driver for the online beauty and personal care market because it improves the shopping experience for consumers while also assisting retailers in building brand loyalty and increasing sales.
Influencer marketing has had a significant impact on the online beauty and personal care market. Influencers, who are typically well-known social media personalities with large and engaged followings, can assist in driving sales and increasing brand awareness for beauty and personal care products. One of the most significant benefits of influencer marketing is that it allows retailers to reach a highly engaged and targeted audience. Influencers typically have a speciality or area of expertise, which means that the products they promote are already of interest to their followers. By collaborating with the right influencers, retailers can effectively reach and engage with their target audience.
The online beauty and personal care market is analyzed based on product category, gender, nature, and region. On the basis of product category, the market is segmented into skin & sun care products, hair care products, deodorants & fragrances, makeup & color cosmetics, and others. On the basis of gender, the market is divided into men, women, and unisex. On the basis of nature, the market is categorized into organic and conventional. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA
The key leading players operating in this market include Avon Products, Inc., Beiersdorf AG, Church & Dwight Co., Inc., Henkel AG & Co. KGaA, Johnson & Johnson, Kao Corporation, Koninklijke Philips N.V., L'Occitane International SA, LOREAL S. A., Oriflame Cosmetics AG, Reckitt Benckiser Group PLC., Shiseido Company, Limited, Procter & Gamble, Unilever, Estee Lauder Companies Inc.