Global Digitalization of Beauty Industry Market

PUNE, India - April 12, 2021 - PRLog -- Global Digitalization of Beauty Industry Market is anticipated to grow with considerable CAGR during the forecast period, 2020 – 2029.

The global digitalization of the beauty industry market is expected to grow at a significant growth rate during the forecast period 2020 – 2029. The adoption of new digital marketing strategies coupled with brand collaboration with social media influencers likely to propel the growth of the target market. The rising trend of globalization and acceptance of new marketing strategies among emerging regions is anticipated to propel the growth of global digitalization of the beauty industry market during the forecast period.

Sales of cosmetics and beauty-related products and services have grown to become a more than US$160Bnindustry, with CAGR of 5.5% over the coming years.

The report "Global Digitalization of Beauty Industry Market, By Component (Software and Services), By Consumer Orientation (Female, Male and Kids), By End User (Beauty Companies, Retail, E-commerce, Speciality Stores and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029".

https://www.prophecymarketinsights.com/market_insight/Global-Digitalization-of-Beauty-Industry-Market-4590

Key Highlights

• In 2016, L'Oréal funded about US$ 1.2 billion in startup company of luxury cosmetics product line named IT Cosmetics.
• In January 2021, beauty industry technology solution provider company Perfect Corp. raised US$ 50 million as a Series C investment led by Goldman Sachs.

Competitive Landscape:

The prominent players operating in the global digitalization of the beauty industry market includes Adimo, Amorepacific Corporation, CFEB Sisley SAS, CPG Marketing LLC, Elizabeth Arden Inc., Johnson & Johnson, L'Oreal S.A., Lancer Skincare, Procter & Gamble, Shiseido Company Limited, The Estée Lauder Companies Inc., and Unilever plc and many other players.