Product Development is a Key Trend in Artificial Intelligence (AI) In Beauty And Cosmetics Market

Global artificial intelligence (AI) in beauty and cosmetics market is anticipated to grow at a significant CAGR of 19.6% during the forecast period (2024-2031). AI-powered skincare tools use computer vision and machine learning algorithms to analyze skin conditions, provide personalized skincare recommendations, and enable virtual try-ons and makeup simulations. It additionally analyze skin tone, undertones, and other factors to recommend personalized makeup shades. AI-powered recommendation engines analyze consumer data to provide personalized product suggestions. AI technologies aid in ingredient analysis and formulation optimization, supporting beauty companies develop innovative products. AI-driven chatbots and virtual advisors provide personalized beauty advice and answer product-related questions. Facial recognition technology tracks skin condition changes, enabling users to monitor skincare effectiveness. 

Browse the full report description of “Artificial Intelligence (AI) In Beauty and Cosmetics Market Size, Share & Trends Analysis Report byProduct Type(Regular Tea, Artificial Intelligence (AI) In Beauty and Cosmetics Beverages, Food, and Personal Care & Cosmetics), by Form (Powder, and Liquid Source) and by Distribution Channel (Hypermarket/Supermarket, Speciality Retail Stores, Online Retail Stores, and Others)Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/ai-in-beauty-and-cosmetics-market

Recent developments in the market:

• In January 2023, Estée Lauder Companies launched its Voice-Enabled Makeup Assistant (VMA) app, an AI-powered mobile app designed to assist visually impaired users in applying makeup more confidently.

• In September 2022, Perfect Corp launched new AI tech that enables beauty brands to make personalised product recommendations tailored to consumers’ personality traits. A new addition to his suite of AI and AR-powered SaaS solutions.

• In December 2021, Nykaa launched AI-powered virtual try-on tech'ModiFace' for beauty shoppers. The ModiFace's virtual try-on technology utilizes an advanced face tracker algorithm to provide a real-time, true-to-life view of virtual cosmetics for safety and hygiene in the post-pandemic globe.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Product 

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- Aiir Ltd.,Perfect Corp., HiMirror, L’Oréal S.A, and Unilever Group among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Artificial Intelligence (AI) In Beauty and Cosmetics Market Report Segment

By Product 

• Personalized Recommendation Tools
• Performance Marketing Measurement Platforms
• Demand Forecasting and Supply Chain Tools
• Real-time Customer Service Platforms
• AI-based Beauty Devices

By Application

• Skincare
• Haircare
• Make-up
• Fragrances
• Others (Nail Care,Oral Care, and Body Care)

Global Artificial Intelligence (AI) In Beauty and Cosmetics Market Report Segment by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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