According to our technology research report “Disruptive Technology Foresight- Cosmetics and Skincare Industry – Global Scenario Forecast to 2030″, cosmetics and skincare companies will have great opportunities to grow in a fiercely competitive market by utilizing genomics, 3D printing, internet of things and light & heat-activated technologies for their product development.
The beauty & cosmetic industry is a multi-billion-dollar industry which is known to stay strong even in times of economic strife. Disruptive technologies in the cosmetic industry have changed the face of this industry; it has prompted the most prominent names to change their approach to the market. Consumers are looking for an interactive experience with their cosmetics brands; they want their products to be clean, natural and personalized according to their skin type and condition.
Disruptive technology is a new technology or innovation that disrupts or replaces the existing established market. Disruptive technology can also be a breakthrough product that creates a new industry. Disruptive technologies have revolutionized the cosmetic and skincare industry because, with the advancements in technology, companies are creating attractive, innovative products and services for their consumers. Artificial intelligence, machine learning, 3D printing and genomics are some of the critical technologies that are being utilized for product development.
The change in consumer behaviour has brought innovations to the market, such as the use of Artificial intelligence, augmented reality, personalization, digitalization and virtual reality. Machine learning, 3D printing and genomics are some other key technologies that are being utilized for product development. The beauty industry disruption is no more a trend instead of a significant tidal shift which is now demanding the attention of some of the biggest names in beauty.
Cosmetics and Skincare: Competitive Market and Analysis
This rise in demand for innovative and smart technology-based cosmetic products creates potential opportunities for both key industry leaders and emerging players to innovate and develop new products according to consumer preferences.
Emerging Players in the Market
- Hero Cosmetics
- One Ocean Beauty
- AO Biome
- Curativa Bay
- Galactic Beauty
Cosmetic and Skincare Key Trends
The key trends nurturing the disruption in cosmetics and skincare industry includes numerous factors such as change of consumer preference towards natural or organic cosmetic products, demand for tailored and adaptive personalization in products, and an intense desire among consumers to get a youthful appearance. Additionally, shift in consumer purchasing behaviour for experiencing before purchasing, increasing demand for personalized dermo-cosmetics and shift in customer preference towards services like beauty at home and personalized subscription boxes.
Major players in the Market
- Estee Lauder
- Procter & Gamble
- Coty Inc.
- Johnson & Johnson
Key Highlights of Report
1. Provide insights into current cosmetic market ecosystem
2. Market trends and future disruptions in cosmetics and skincare
3. Key technologies that drive future market
4. Detailed analysis of technologies and their impact on the market
5. Market opportunity and technology readiness level
6. Key market leaders and their profile and innovations in the field.
1. Executive Summary
2.1 Objective of the Study
2.2 Market Definition
2.3 Study Scope
3.1 IEBS Approach
3.2 Research Methodology
4. Disruptive Technology Overview
4.1 Defining Disruption
4.2 Key Trends
4.3 Disruption Accelerators
5. Technology Mapping
5.1 Technology cluster mapping
5.2 Technology Qualification
6. Technology Assessment
6.1 Technology selection criteria
6.2 Technology assessment components
6.2 Disruptive technology framework
6.3 Technologies with TRL>4
7. Disruptive Technology Selection
7.1 Technology Analysis
7.2 Expert Opinions
8. Actionable Insights
8.1 Technology adoption curve
8.2 Opportunity Matrix
9. Market Dynamics
9.1 Current Market Ecosystem
9.2 Market Forecast
9.3 Impact of Disruptive Technology on Market
9.4 Macro Economic Impact Analysis
9.5 Impact of Disruptive Technology on Value Chain
10. Competitive Landscape
10.1 Key Industry Leaders
10.2 Company Profiles
10.3 Recent Activities