The United Kingdom beauty subscription market is projected to reach a value of USD 825.7 million, with an impressive absolute dollar growth of USD 787 million from 2023 to 2033. Between 2018 and 2022, demand for beauty subscriptions in the UK grew at a CAGR of 38.7%, and it is expected to continue expanding at a CAGR of 35.9% through 2033.
A recent study revealed that in 2022, nearly 6% of UK beauty product consumers subscribed to beauty boxes. With millennials representing about 21% of the total population, a further increase in demand is anticipated in the coming years. Brands such as The Detox Market and Beauty Pie are employing various strategies to enhance the appeal of beauty boxes and capitalize on this growing trend.
Future Market Insights has released a comprehensive analysis of the global beauty subscription market, revealing significant growth potential in the coming decade. The market, valued at approximately USD 723.7 million in 2022, is projected to soar to USD 10.2 billion by 2033, registering a remarkable CAGR of 26.7% from 2023 to 2033.
Key Drivers of the Beauty Subscription Market
- Significant Market Growth: The beauty subscription market is projected to expand from USD 723.7 million in 2022 to US$ 10.2 billion by 2033, with a robust CAGR of 26.7%.
- Popularity of Curated Boxes: Curated beauty subscription boxes are expected to be the highest revenue-generating segment, with a projected growth rate of 28.3% CAGR from 2023 to 2033, appealing to consumers’ desire for personalized products.
- Influence of Social Media: Over 65% of consumers report that recommendations from social media influencers significantly impact their purchasing decisions, driving interest in beauty subscription services.
- Customization and Personalization: A notable 28% of customers prioritize personalized experiences, leading brands to offer customizable subscription options that cater to individual preferences.
- Millennial Engagement: Millennials are increasingly interested in skincare and beauty products, making them a vital demographic for subscription services, particularly in regions like Europe and the U.S.
- Rising Demand for Premium Products: Consumers are more willing to invest in high-end beauty products, prompting subscription services to feature luxury items and premium offerings.
- Convenience and Value: Beauty subscription boxes provide a cost-effective and convenient way for consumers to access a variety of beauty products, often at discounted rates compared to traditional retail.
- Expanding Global Markets: Significant growth opportunities are emerging in regions such as Europe and the U.S., with the European market projected to reach US$ 4.9 billion by 2033.
Key Companies Covered
- Ipsy
- Lookfantastic
- Walmart Beauty Box
- Sephora
- Hero cosmetics
- Boxy Charm
- Macys
- Honest
- LiveGlam
- Glossybox
- Beautyfix by Dermastore
- The Beard Club
- Curology
- Liberty beauty drop
- Lip Monthly
- Bath blessing
- Beautypie
Recent Developments
- In February 2023, Macy’s launched PATTERN Beauty products ranging from washes, and treatments to styling tools and other beauty products. This will enhance Macy’s portfolio of haircare products. This is the first department store partnership of PATTERN Beauty.
- In February 2023, Sephora collaborated with Competera, which will help in reshaping its global data strategy and pricing. This will enable Sephora to optimize its price and take a market-driven approach.
- In February 2023, Grove Collaborative announced a strategic partnership with HumanCo Investments with an aim to scale up the business, creating M&A opportunities as HumanCo might fund up to USD 100 million of new capital. According to this partnership, HumanCo will help Grove Collaborative in analyzing and identifying merger opportunities.
- In February 2022, Hero Cosmetics acquired Ulta Beauty. Earlier, Hero Cosmetics sold only acne patches through Ulta Beauty and now it has decided to sell 1,260 of its own products through Ulta Beauty stores.
Get Connected with Our Expert Analyst on Email: sales@futuremarketinsights.com
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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