DNA-Based Skincare Products Market

Market Overview

The global DNA-based skincare products market size was valued at USD 6.64 billion in 2022. It is estimated to reach USD 11.32 billion by 2031, growing at a CAGR of 6.1% during the forecast period (2023–2031). The growing demand for personalized skincare products and the flourishing e-commerce retail market will propel market growth.

A person's genetic makeup is used to gather information for DNA skincare products, which aids in identifying any negative impacts of a regimen that should be avoided. Based on information from genetic composition, these skincare products suggest treatments and a routine to counteract any unfavorable effects. The DNA-based skincare solutions are used to cleanse the skin, maintain the skin’s moisture balance, increase skin metabolism, and shield the skin from damaging UV rays. Serums, creams, and other products are the primary categories of DNA-based skincare items. A serum is a concentrated form of an active ingredient that targets particular skincare problems. The chemicals that make up the substance are little but powerful. The many end users, dispersed through various channels, including online and offline, include home users, wellness centers, and salons.

DNA-based skincare solutions are a recent science-driven fad that entails customizing products for particular problem areas by considering individual genetic makeup. Consumers are given products after genetically testing their skin, ensuring the best possible compatibility with their genes. Although DNA testing was once only done in health clinics, customers can now purchase at-home testing kits for convenience.

Market Dynamics

Global DNA-Based Skincare Products Market Drivers

Growing Demand for Personalized Skincare Products

Skin texture, pattern, and concerns vary per person. Skincare professionals no longer recommend one product or routine to everyone. Consumers need customized skincare regimens rather than generic over-the-counter products since their skin is unique. Skincare professionals are now advising tailored products, and firms are addressing consumers more directly with innovations and the latest technologies like AI and tools for better results. Brands and companies in the market for a decade or more have observed consumer behavior and found that consumers want a more personalized experience and skincare products tailored to their skin type and issues.

For instance, the Neutrogena Skin360 Face Scanner app analyzes 2,000 facial features like fine lines, dark circles, wrinkles, and more and suggests products to each user. Since DNA-based skincare products are more exact, such advances may benefit the market. Personalized skincare regimens are based on a consumer's skin texture, sensitivity, current skin issues, and goals. Many brands offer questionnaires, quizzes, and virtual consultations to help customers assess their skin issues and aspirations. Skincare manufacturers want a competitive edge to address this trend for clients. As more individuals shop online, DNA-based skincare product producers should make the online purchase process as personal as the product.

Flourishing E-Commerce Retail Market

E-commerce retail channels are essential for spreading DNA-based skincare products because they generate much of the market's revenue. Customers may now shop for millions of things online. E-commerce retail sales are expected to grow due to increased consumer spending, population growth, and internet availability. Mobile shopping apps and convenient payment methods are also helping online retail grow. Pinterest, Instagram, and fashion blogs have influenced global skincare product use. Due to consumer spending changes caused by the crisis, new retail strategies have been implemented to address demand variability, margin restrictions, and increased competition. DNA-based skincare manufacturers must find supply chain solutions that respond to changing consumer needs without increasing costs.

Furthermore, customers turned to online shopping for various goods, including DNA-based skincare items, as brick-and-mortar establishments were closed during the early stages of the continuing COVID-19 epidemic. The demand for skincare products based on DNA has consequently increased through online sales channels. Online sales growth has been further aided by the entry of non-banking firms into the payment sector. Because many customers prefer purchasing goods on online marketplaces, retailers all over the United States have started to engage in online retail. Over the course of the forecast period, these trends are anticipated to have a beneficial impact on the market for DNA-based skincare products.

Global DNA-Based Skincare Products Market Restraint

High Consultation, Maintenance, and Prices of Raw Materials

DNA-based skincare products are expensive, like most personal care and cosmetic products. DNA-based skincare uses DNA kits, which cost USD 59 or more depending on brand and quality. Most customers consider this segment a premium skincare product category since skincare professionals' DNA-analysis consultations and product recommendations are pricey compared to over-the-counter products. Several companies sell DNA test kits and promote other brands. Two-step companies do not make skincare products. Australia-based SkinDNA offers DNA tests for firming, wrinkles, UV damage, free radicals, and skin sensitivity.

The company's patented tests are marketed in over 20 countries and do not include product manufacture. It offers one-time remedies and suggests brands. The report takes five to six days and costs USD 1,498 sans skincare products. Few customers worldwide invest in skincare goods and consulting. Mass consumers avoid DNA testing and product consultation since it costs a fortune. This will slow global trade.

Global DNA-Based Skincare Products Market Opportunities

Expansion of the Personal Care Sector

Due to the fast rise of personal care products such as cleansing, anti-aging, skin mending, moisturizing, and whitening, the DNA-based skin care products market is predicted to grow rapidly. DNA-based skincare brands may offer root cause-targeted products. DNA-based skincare companies can profit from anti-aging, skin healing, anti-wrinkle, hydration, and brightening markets. Anti-aging and anti-wrinkle products should be used in the 20s because skin cell turnover falls by 28%. Thus, several brands have created anti-wrinkle creams, moisturizers, massage oils, serums, and lotions for Gen Z and millennials to acquire market share.

As collagen production changes with age, doctors recommend different anti-aging skincare routines in the 20s, 30s, and 40s. Many firms have developed anti-wrinkle solutions for all ages to reach a wide audience. According to the U.S. Cosmetic Company’s research report, 50% of 18-to-24-year-old women preferred wrinkle-defying products in their skincare routine. DNA-based skincare companies can cater to demographically particular consumer needs. These characteristics should help this industry flourish.

Regional Analysis

Based on region, the global DNA-based skincare products market is bifurcated into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.

North America is the most significant global DNA-based skincare products market shareholder and is estimated to exhibit a CAGR of 5.6% over the forecast period. In terms of value, North America accounted for 39.2% of the global market in 2020, the highest proportion. The market is being pushed by the increasing demand for customized skin care and cosmetic goods in the area and the increased accessibility of these products through online and offline channels. Over the forecast period, the market is anticipated to benefit from expanding consumer awareness, driving up consumption of skincare products, notably in the United States. These products promote collagen production, enhance antioxidant levels, and reduce inflammation. One of the key factors boosting the market for DNA-based skincare products is the rising economic wealth in nations like the U.S. and Canada, which allows customers to spend a higher price on premium skincare products.

Europe is anticipated to exhibit a CAGR of 5.6% over the forecast period. The market for DNA-based skincare products in Europe is anticipated to become more competitive shortly as investments from outside the European Union increase. Due to ongoing technological advancement, DNA testing has moved quickly and substantially decreased in cost and complexity, enabling commercial uses of the technology in various industries, from medicine to the beauty and personal care sectors. The trend of DNA-based skincare products is being quickly embraced by upscale beauty salons and premium skincare companies in the area.

In addition, independent DNA testing labs and clinics focusing on skincare have been more prevalent over the last few years. Numerous research facilities that carry out market research, participate in product development, and provide information regarding regulatory compliances are also helpful to well-known European skincare companies. However, as the value of physical attractiveness has grown and the number of gender-specific cosmetic and personal care goods has increased, many firms have been encouraged to target men in Europe.

Asia-Pacific has emerged as one of the fastest-growing regions in the global market. The main sources of product demand are nations like China, Japan, Australia, and India. The expansion of some international businesses' reach through investments in these and other prosperous Asian regions has positively impacted the development of the local market. Furthermore, the market for these science-based customized skincare products has grown because of the increasingly tech-savvy consumers in Hong Kong and Singapore. To increase product uptake in Asia Pacific, businesses have been educating customers. For instance, Singapore-based Imagine Labs revamped its DNA reports in September 2017 to make them simpler and more user-friendly. To improve user experience and assist business partners, the organization has also begun offering its reports in Chinese, Indonesian, Thai, and numerous other Asian languages. Such measures are anticipated to increase customer adoption and product awareness.

In Latin America, Brazil and Mexico are two powerful nations where skincare consumption per person has increased. Throughout the forecast period, the market for DNA-based skincare products is anticipated to benefit from the rising trend of personal care and good skin among both men and women. Additionally, many well-known companies are investing in tailored and individualized skincare products, which will favor science-based skincare goods.

In the Middle East and Africa, Due to more work opportunities and the presence of foreign manufacturers, the Middle East and Africa region has seen a large increase in the population of middle-income households. The region's market for skincare products based on DNA has benefited from its expanding working population and the significant increase in its purchasing power capability.

Segmental Analysis

The global DNA-based skincare products market is bifurcated into products and distribution channels.

Based on the product, the global DNA-based skincare products market is bifurcated into Creams, Serums, and Others.

The cream segment dominates the global market and is projected to exhibit a CAGR of 5.9% over the forecast period. Since the formulation comprises cutting-edge pharmaceutical active ingredients, DNA-based skin care creams are not just cosmetics or beauty goods; they are also said to maintain and even enhance the function of the skin. Such compounds offer calming, healing, and anti-inflammatory qualities and are therefore advised for hydration and anti-aging. Creams are popular with men and women, and major market players provide a wide range of creams, including sunscreens, anti-aging products, and skin-brightening products.

For instance, 25.54 million Americans used face cream 14 times or more in a week in 2020, per the Simmons National Consumer Survey (NHCS) and U.S. Census data. These kinds of surveys aid in predicting how consumers will behave regarding skincare goods and their propensity for frequent purchases. For companies in the DNA-based skin care products market, new product launches and the formation of strategic alliances are anticipated to continue to be crucial success factors in the years to come. The market is anticipated to expand in the upcoming years due to the rising demand for skin anti-aging creams containing chemicals that actively repair and regenerate skin. These creams also lessen freckles, age spots, discoloration, and acne scars, which increases consumer desire for the product.

The global DNA-based skincare products market is bifurcated online and offline based on the distribution channel. 

The offline segment owns the highest market share and is predicted to exhibit a CAGR of 5.4% over the forecast period. The increase in offline sales is driven by consumers' strong inclination to test their genes at health and wellness centers rather than at home with kits. Consumers assume expert testing is more reliable, so the recommended items provide better outcomes. The availability of high-quality DNA-based skincare products in medical supply stores, convenience stores, clinics, and specialized shops has greatly increased offline sales. Additionally, minimal wait times for orders and services have benefited the offline market.

Recent Developments

• April 2023- MapMyGenome has introduced India's First DNA Test for individualized skin and hair care. Launch of BeautyMap by genomics business MapMyGenome in Hyderabad. BeautyMap is a DNA-based test that offers individualized recommendations for skin and hair care products based on a person's particular genetic profile.