NEWARK, Del, May 04, 2023 (GLOBE NEWSWIRE) -- The global beauty subscription market revenues were estimated at US$ 723.7 Million in 2022 and are anticipated to grow at a CAGR of 26.7% from 2023 to 2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach a valuation of US$ 10.2 Billion. The U.S. stands as a prominent market for beauty subscription demand and is expected to gross US$ 1.2 Billion by 2033.
Social media influencers are highly influential in the beauty industry, and their endorsement of beauty subscription services can significantly influence consumer behavior. Many beauty subscription services work with influencers to promote their products and services, which can increase visibility and sales. For example, Orly, a nail care brand, collaborated with influencer Lisa Frank to launch a new collection together. In this collection, Orly introduced its new product, gel nail strips with motifs such as kitten bubbles, and spotty and dotty.
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Millennials are leading the beauty subscription market, as this age group contains the highest number of paying customers and is used to a subscription-based economy. Millennials account for around 32% of the world’s population and thus are the largest potential buying group. They are a generation that values convenience, customization, and experiences.
Beauty subscription services often offer personalized product recommendations based on the customer's skin type, hair type, and beauty goals, which are very appealing to millennials looking for products that meet their specific needs. Similarly, technological advancement and growing demand for male grooming products will significantly drive the beauty subscription market.
Competitive Analysis:
Key players in the Beauty Subscription Market are Ipsy, Lookfantastic, Walmart Beauty Box, Sephora, Hero Cosmetics, Boxy Charm, Macy’s, Honest, LiveGlam, Glossybox, Beautyfix by Dermastore, The Beard Club, Curology, Liberty beauty drop, Lip Monthly, Bath blessing, and Beautypie.
- In January 2023, THG (The hut group) announced a collaboration with AND Digital to speed up and increase e-commerce solutions for clients. This collaboration will help brands to bring digital transformation, fulfill the digital skill requirement of brands, and use the e-commerce platform to its full extent.
- In December 2022, Curology joined hands with Target.com to make its non-prescription products available in Target stores from January. This move is owing to the fact that many direct-to-customer brands are shifting to physical stores, especially through Target, Sephora, and Walmart. A significant number of Curology skincare products will be made available through Target stores.
- In October 2022, Vanity Wagon, a clean beauty brand successfully received USD 2 million in funding led by Lotus Herbals and Agility venture partner. The aim of raising this money was to enhance its marketing, technology, and sales strategies and to build a sustainable brand.
- In July 2022, The Allure store announced a collaboration with Ulta Beauty, a beauty retailer. According to this collaboration, the customers of Allure will be provided Ulta beauty collections for a limited period. This collaboration will lead to the sales of both the companies in coming years.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Cascara Sagrada market, presenting historical market data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. According to the study, the global beauty subscription industry has experienced significant growth, as indicated by the below market segmentations.
By Subscription Type:
- Personalized Boxes
- Curated Boxes
By Delivery Frequency:
- Monthly
- Quarterly
- Half-Yearly
- Annually
By Product Type:
- Skincare
- Makeup
- Mixed Kit
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Table of Content (ToC)
1. Executive Summary | Beauty Subscription Market
1.1. Key Findings
1.1.1. Overall Market
1.1.2. Segment Overview
1.1.3. Regional Overview
1.1.4. Competitor’s Focus
1.1.5. Consumer’s Perception
1.2. Summary of Statistics
1.3. Market Characteristics and Attributes
2. Market Overview
2.1. Introduction and Definition
2.2. Research Scope
3. Market Background
3.1. Country-wise Spending on Beauty Products (in US$ Million)
3.2. Gender-wise Consumption of Beauty Products
3.3. Category-wise Market Share of Beauty Products
3.4. Beauty Content on YouTube by Distributors
3.5. Offline and Online Sales of Beauty Products
3.6. Growth in Subscription Services over a Year
3.7. Beauty Product Import and Export by Countries (TOC Continue...)
Have a Look at Related Research Reports of Consumer Product:
Herbal Beauty Products Market Type: The demand in the herbal beauty products market is anticipated to grow at approximately 6.3% CAGR between 2023 and 2033. The market for herbal beauty products may reach US$ 73.0 billion in 2023. The target market nearly holds a 5.9% share in the overall beauty products industry.
Europe & Asia Pacific Herbal Beauty Products Market Value: The Europe & Asia Pacific herbal beauty products market is anticipated to witness a CAGR of 3.7% during the forecast period and is expected to reach at US$ 2,571.2 Million by 2026 end. Increasing demand for green labeled cosmetics products at affordable price is expected to drive the market growth over the forecast period.
Personalized Beauty Devices Market Demand: The global personalized beauty devices market is expected to expand at a healthy CAGR of close to 25.3% over the next decade, and cross a valuation of US$ 80.7 Million in 2031 as customers are increasingly seeking personalization in their daily activities shifting from “one size fits for all” products.
Snail Beauty Products Market Outlook: While snail beauty products have been prevalent for more than two decades, the market is still in the nascent stages of development. Snail beauty products have hit the ground running with their advanced skin nourishing and rejuvenating properties.
USA Beauty and Personal Care (BPC) Retail Vending Machine Market Sales: The USA beauty and personal care (BPC) retail vending machine market size would surpass US$ 91.6 million in 2023. It would expand rapidly at a CAGR of 10.5% from 2023 to 2033.
Cosmetics ODM Market Analysis: The cosmetics ODM market size will surpass US$ 12.02 Billion in 2021. Between 2021 and 2031, the market is expected to exhibit compound annual growth rate (CAGR) of 6.2%. Among hair care segment, hair tonics are set to reflect a positive growth trajectory with an above average CAGR of 10.1% through the assessment period.
Halal Cosmetics Market Growth: The global halal cosmetics market size is estimated to be valued at US$ 38,217 Million in 2022 and is projected to surpass a valuation of US$ 114,524 Million by 2032.The sales of the halal cosmetics Market are likely to rise at a CAGR of 11.6% from 2022 to 2032.
Tinted Cosmetics Market Share: The global tinted cosmetics market size is expected to grow from US$ 1,500.0 Million in 2022 to US$ 2,290.0 Million by the end of 2032, with overall sales accelerating at a moderate CAGR of 4.3% during the forecast period.
Premium Cosmetics Market Size: The global premium cosmetics market leads to an estimated CAGR of 6.14% in the global market during the forecast period and registers a revenue valued at US$ 116.23 Billion in 2023 and is expected to cross US$ 210.92 Billion by 2033.
Nutricosmetics Market Forecast: The Nutricosmetics market is estimated at USD 6.43 billion in 2022 and is projected to reach USD 12.15 billion by 2030, at a CAGR of 8.28% from 2022 to 2030. Share of Nutricosmetics market in its parent market that is beauty market is approximately ~2%-5%.
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