Beauty Tech is Just Taking Off

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 Statista’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.