According to the Future Market Insights, the market for DNA-based skincare is expected to rise more quickly due to millennials’ desire to delay the aging process. Large and specialized businesses’ aggressive advertising and promotional campaigns are probably going to have a big impact on how consumers behave.
NEWARK, Del: , Sept. 19, 2023 (GLOBE NEWSWIRE) — The global DNA-based skincare market in 2022 was US$ 4.7 billion and is estimated to be US$ 4.9 billion in 2023. Future Market Insights has mentioned in its reports that the focused ultrasound system market will expand at a CAGR of 5.3% between 2023 and 2033, totaling around US$ 8.2 billion by 2033.
DNA skincare products use information gathered from the person’s genetic makeup for prescribing its products, which helps to know the adverse effects of routine to counteract.
A boost in demand for health and wellness products is estimated to propel the growth of the DNA-based skin care products market going forward. Living a healthy lifestyle improves a person’s appearance and well-being, and the health of the skin is an indicator of a person’s overall health.
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Key Takeaways from the Market Study
- Anticipated size of the DNA-based skincare market in 2017 was US$ 4.1 billion.
- Global DNA-based skincare market grew at a CAGR of 2.5% between 2017 and 2022.
- North America is anticipated to generate the largest DNA-based skincare market share of 37.6% in the upcoming years.
- Demand for natural and organic products in Europe has been fueled by the increase in consumer awareness about the risks of adopting skincare products having synthetic chemicals holding a market share of 25.5%.
- Under product type, creams dominate the market with a share of 56.2%.
- Under distribution channel, the offline distribution channel has a major position in the market with a market share of 68.8%.
“Desire to slow down the signs of aging among millennials is one of the major drivers of the DNA-based skincare market”, Lead Analyst a Future Market Insights analyst.
Scope of the Report
|Growth Rate||CAGR of 5.3% from 2023 to 2033|
|Base Year for Estimation||2022|
|Historical Data||2017 to 2022|
|Forecast Period||2023 to 2033|
|Quantitative Units||Revenue in US$ billion and CAGR from 2023 to 2033|
|Key Countries Profiled|
|Key Companies Profiled|
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Key Developments in the DNA-Based Skin Care Market
- Personalized Skincare: DNA-based skincare has ushered in a new era of personalization. Companies are using genetic information to create customized skincare products tailored to an individual’s unique genetic makeup. This trend is gaining popularity as consumers seek more effective and personalized medicine solutions.
- Advanced DNA Testing: Advances in DNA testing technology have made it easier and more affordable for consumers to access their genetic information. This has fueled the growth of DNA-based skincare, as people can now readily obtain insights into their skin’s specific needs.
- Targeted Treatment: DNA analysis allows skincare companies to identify specific skin issues and recommend targeted treatments. This precision approach is replacing the one-size-fits-all model of skincare, leading to more effective results.
- Rise in DTC Brands: Direct-to-consumer (DTC) DNA-based skincare brands have emerged, offering consumers the convenience of ordering personalized products online. These brands often provide easy-to-use DNA testing kits, making the process accessible to a broader audience.
The global market is highly fragmented with the presence of various international and domestic companies. Many companies are gradually shifting towards artificial intelligence to provide individualized suggestions and track daily skin changes to react to the shift in lifestyles. Meanwhile, some of the other key players are striving to develop DNA testing kits for customers to enable them to make informed decisions associated with their genetic composition.
- Gi Picco’s, a manufacturer of cosmetic powders in Europe, was purchased by MS Beautilab. The acquisition of Italy’s Gi Picco’s Cosmetics by the Swiss-French subcontractor has resulted in the improvement of its product line and has completed its historical by marking a significant milestone in the company’s expansion strategy.
- Milk Makeup and Obagi Cosmeceuticals LLC were acquired by Waldencast Acquisition Corp.
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Key Segmentations in the DNA-Based Skin Care Industry
By Product Type:
By Distribution Channel:
By End Use:
- Home User
- Wellness Clinics
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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