PUBLISHER: SkyQuest | PRODUCT CODE: 1260027
PUBLISHER: SkyQuest | PRODUCT CODE: 1260027
Global DNA-Based Skin Care Products Market size was valued at USD 6.31 billion in 2021 and is projected to reach USD 9.87 billion by 2028 at a CAGR of 6.6% during the forecast period (2022-2028).
Using DNA mapping to customise skincare regimens is beneficial. Identification of inherited skin conditions is made easier. Following genetic testing, experts suggested cosmetics that ensure effective compatibility with their genes. These tests are initially performed in a wellness centre, but they can also be completed at the patient's convenience at home. The creation of collagen, the reduction of inflammation, and the improvement of the body's antioxidant capacity are just a few of the many skin advantages of DNA-based skincare. Because genetic testing is quick, convenient, and accurate, it is a good substitute for conventional skincare procedures. The personal care sector is expected to grow significantly as a result of rising consumer spending on cosmetics.
As skin concerns become more well-known, it is anticipated that demand for DNA-based skincare products will increase. Additionally, through their advertising and marketing campaigns, businesses of all sizes make a significant contribution to the market's expansion. The growing popularity of beauty products and consumer spending power on skin & personal care products are expected to drive demand for DNA-based skincare products over the forecasted period.
Top-down and bottom-up approaches were used to estimate and validate the size of Asia Pacific DNA-Based Skin Care Products Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
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.
Drivers
The biggest driver of market expansion for DNA-based skincare products is social media influence.
Due in large part to millennials' desire to delay the ageing process, the market for DNA-based skin care is anticipated to grow more quickly in the coming years.
Consumer behaviour is likely to be significantly impacted by the aggressive advertising and promotional campaigns of large and specialised businesses.
It is anticipated that consumers will be able to spend more on cosmetics and beauty products. Because everyone has different skin, there will be an increasing demand for regimens that are customised for each person's unique needs. A growing number of customers are prepared to spend money on skincare that is tailored specifically to their skin type. Players in the market are diversifying their product offerings by offering goods tailored to each customer's skin type and needs. During the forecast period, this is likely to increase demand for DNA-based skincare products on the global market.
Restraint
DNA-based skincare product growth will be hampered by more affordable alternatives in the global market.
Replacements are frequently less expensive than DNA-based skincare products, which presents a significant challenge to the development and demand for such products. It is simpler for customers to buy these products because the companies selling alternatives are present in both the offline and online marketplaces.
Additionally, in an effort to maintain their competitive edge, these businesses frequently release novel products, which restrains the growth of many other market participants.
Market Trends
The market for DNA-based skincare products will see an increase in the use of natural ingredients in formulation.
The demand for natural ingredients in the formulation of these products will increase as more people become aware of the advantages of using natural ingredients over conventional ones, including fewer side effects.
The market is anticipated to grow as a result of efforts made by major market players to increase consumer awareness of organic products through various brand campaigns and dermatologists' increasing preference for prescribing natural alternatives like organic products for skin and hair care.