DNA-based Skin Care Products Industry Overview
The global DNA-based skin care products market size is expected to reach USD 9.87 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2021 to 2028. Consumer awareness of the dangers of using skincare products containing synthetic chemicals is pushing the demand for natural and organic products. Many DNA-based companies have been promoting awareness of DNA-based skincare products through digital and social media campaigns because today's consumers are tech-savvy and want products that are best suited to them.
Everyone's skin is different, so instead of a generic approach from over-the-counter items, consumers need a regimen that is tailored to their own needs. Consumers are now being targeted more directly by skincare specialists, who are prescribing a customized range of products.
DNA-based Skin Care Products Market Segmentation
Grand View Research has segmented the global DNA-based skin care products market on the basis of product, distribution channel, and region:
Based on the Distribution Channel Insights, the market is segmented into Online and Offline.
- The offline distribution channel led the market and held a revenue share of over 65.0% in 2020.
- The growth in offline sales is fueled by high preference among consumers for testing their genes at health and wellness clinics rather than doing the same using at-home kits.
- Quality DNA-based skincare products are now available in specialty stores, clinics, convenience stores, and medical stores and this has significantly contributed to offline sales.
- Moreover, minimum waiting time for orders and services has worked in favor of the offline segment.
- In DNA-based skin care products, the internet category is the fastest expanding.
- The pandemic has accelerated the shift in consumer behavior, with the increased adoption of do-it-yourself (DIY) content and an increase in online sales of beauty items.
- The rise of the online category can be ascribed to technical improvements and the increasing importance given to online platforms for purchasing skincare products, particularly by consumers looking for bargains.
Based on the Products Insights, the market is segmented into Creams, Serums, and Others.
- In terms of value, creams dominated the market with a share of over 50.0% in 2020. As the formulation comprises high-tech pharmaceutical active components, DNA-based skincare creams are touted as more than just aesthetic or cosmetics goods. They claim to preserve and even improve the skin's function.
- Consumers may now participate in the development of their own perfect products thanks to breakthrough data capabilities and technology, making the purchasing decision much easier.
DNA-based Skin Care Products Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is fragmented owing to the presence of a large number of domestic as well as international players. However, a majority of the revenue share is captured by key players. To react to this shift in lifestyles, skincare companies like PROVEN Skincare are turning to artificial intelligence to track daily skin changes and provide individualized suggestions. For instance, Atolla, which debuted in 2019, employs artificial intelligence (AI), a mobile app, and monthly at-home test kits to help with tailored skin profiling that changes with lifestyle and weather. Some companies such as Pathway Genomics now offer DNA testing kits to clients, allowing them to make informed decisions based on their genetic composition.
Some prominent players in the global DNA-based skin care products market include:
- IMAGENE LABS
- EpigenCare
- ALLÉL
- SkinDNA
- SKINSHIFT
- ANAKE
- Genetic Beauty
- DNA Skin Institute
- LifeNome
Order a free sample PDF of the DNA-based Skin Care Products Market Intelligence Study, published by Grand View Research.
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