The global beauty subscription 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.
The social media influencers are very persuasive in the beauty field, and they may influence their presence when endorsing beauty subscription services. Most of these beauty subscription services collaborate with various influencers to market their products and service, which boosts the sale as well provides them visibility. For instance, Orly – a nail care brand worked with influencer Lisa Frank on launching their collection. Gel nail strips with various motifs including kitten bubbles, and spotty and dotty are Orly’s new product featured in this collection.
Millennials are dominating the beauty subscription industry due to its high number of paying customers and a subscribed-based economy that is widely habitual within this age group. The largest buying group is composed of so called millennials that represent close to 32% of the world population. They belong to a generation that appreciates convenience, personalization and experiences.
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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.
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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.
Segmentation of the Global Beauty Subscription Market
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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