In 2021, beauty tech revenue hit $3.8 billion across seven major markets - the United States, China, Japan, South Korea, United Kingdom, Germany and France. By 2026, this is expected to reach $8.9 billion.
Although it’s growing, beauty tech is still a relatively new and niche area. The name is used as an umbrella term for all AI and AR based tools and software used within beauty, whether that’s a smart mirror that can simulate virtual try-ons or diagnostic software that offers facial scanning to make informed and smart recommendations.
According to data in ÌÇÐÄÆƽâ°æ’s Beauty Tech dossier, developments in the market are expected to increase beauty tech’s share of the traditional beauty market from 1.8 percent in 2021 to 3.1 percent by 2026.
