The Asia Pacific DNA-based Skin Care Products Market would witness market growth of 12.9% CAGR during the forecast period (2021-2027).
Due to the increase in consumer disposable income and subsequently purchasing power, the growth of the beauty and personal care market has been fueled in the last couple of years. In addition, the trend is more prevalent in the millennial population due to their high inclination towards slowing down the aging process. Some of the factors that impact consumer behavior are strong advertising and promotional strategies by key market players. The market is expected to grow further due to the surge in preference and capacity to purchase beauty & cosmetic solutions. The skin of every person is different, hence rather than choosing a generic approach from over-the-counter products, they require an approach that is customized to their own requirements. Skincare experts are directly targeting consumers by recommending them tailored products based on their needs.
E-commerce retail platforms are becoming highly significant in the distribution of DNA-based skincare products as they generate a considerable portion of market revenue. Due to the online sales platforms, consumers have the convenience to browse millions of items by sitting at their homes by eradicating the need to visit retail stores physically. The growth in skin care products on social media platforms like Instagram, Facebook, YouTube, and TikTok is due to the massive popularity of these social media sites. Influencer marketing has witnessed massive popularity in the past few years, and the skincare industry is specifically conducive to leverage this trend.
The increase in consumer spending is boosting the beauty and personal care market in the last couple of years. This trend is specifically evident among the millennial population that has boosted the desire to reduce the aging process. Strong advertisements and marketing campaigns by the regional market have highly impacted the behavior of the consumers. In addition, the regional market would witness bright growth prospects due to a surge in preference and increased purchasing power to spend on beauty and cosmetic solutions.
Individuals are realizing that each person has different skins that demand customized products rather than a generic approach from over-the-counter products. In addition, skincare specialists are directly targeting the consumers by suggesting a personalized range of products. Therefore, these factors would unlock the growth prospects for the growth of players operating in the regional DNA-based skincare market during the forecasting period.
The Offline market dominated the South Korea DNA-based Skin Care Products Market by Distribution Channels in 2020, thereby, achieving a market value of $131.6 million by 2027, growing at a CAGR of 15.1 % during the forecast period. The Online market is estimated to grow at a CAGR of 16.1% during (2021 - 2027).
Based on Products, the market is segmented into Serums, Creams, and Other Products. Based on Distribution Channels, the market is segmented into Online and Offline. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide DNA-based Skin Care Products Market is Projected to reach USD 11 Billion by 2027, at a CAGR of 11%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Imagene Labs Private Limited (Asia Genomics), Caligenix, Inc., EpigenCare Inc. Allogenic AB (ALLéL®), LifeNome Inc., SkinDNA Clinics, Anake, Skinshift, and DNA Skin Institute.
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