PUBLISHER: The Business Research Company | PRODUCT CODE: 1695264
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695264
Virtual makeup refers to the use of augmented reality (AR) technology to digitally apply makeup to a user's face in real time. This technology allows customers to try on makeup products virtually using a mobile device or a live camera, without the need to apply the makeup physically.
The main types of virtual makeup are virtual eye makeup try-ons, virtual lips makeup try-ons, and virtual face makeup try-ons. A virtual eye makeup try-on is a technology that allows users to virtually try on different eye makeup products in real-time using augmented reality (AR) and artificial intelligence (AI). The various technologies include augmented reality and virtual reality. These are used in various applications such as consumers, cosmetics retailers, and others.
The main types of virtual makeup are virtual eye makeup try-ons, virtual lips makeup try-ons, and virtual face makeup try-ons. A virtual eye makeup try-on is a technology that allows users to virtually try on different eye makeup products in real-time using augmented reality (AR) and artificial intelligence (AI). The various technologies include augmented reality and virtual reality. These are used in various applications such as consumers, cosmetics retailers, and others.
The virtual makeup market size has grown exponentially in recent years. It will grow from $0.91 billion in 2024 to $1.12 billion in 2025 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to expansion of beauty offerings, growing significance of online for omnichannel retailers, growing transition toward a healthy lifestyle, growing financial independence among women, proliferation of social selling.
The virtual makeup market size is expected to see exponential growth in the next few years. It will grow to $2.59 billion in 2029 at a compound annual growth rate (CAGR) of 23.3%. The growth in the forecast period can be attributed to strong internet penetration, rising number of active social media users, growing digital presence and marketing, increased spending, growing demand for organic cosmetics. Major trends in the forecast period include product innovation, technological advancements, development of branding techniques, adoption of augmented reality (AR) and artificial intelligence (AI) technologies, integration of metaverse.
The strong internet penetration is expected to propel the growth of the virtual makeup market going forward. The internet is a global network of billions of computers and other electronic devices that allows access to a vast amount of information, communication with people worldwide, and various other activities. Internet penetration is driven by a combination of socioeconomic factors, and cultural influences, with its impact extending across various aspects of modern life. High-speed internet enables seamless streaming and interaction with virtual makeup platforms, ensuring smooth and immersive experiences for users trying on different makeup looks in real-time. For instance, in November 2022, according to a report published by the International Telecommunication Union, a Switzerland-based specialized agency, approximately 5.3 billion individuals, constituting 66 percent of the global population, are estimated to be using the internet in 2022. This represents a growth rate of 6.1 percent compared to the previous year. Therefore, the strong internet penetration is driving the growth of the virtual makeup market.
Major companies operating in the virtual makeup market are developing advanced technologies, such as makeup virtual Try-On experience using Perfect's Face artificial intelligence (AI) solutions to better serve customers with advanced features. Artificial intelligence (AI) makeup solution utilizes AI algorithms to analyze facial features, skin tone, and other relevant factors to virtually apply makeup in a realistic and customized manner. For instance, in October 2023, Walmart Inc., a US-based retail corporation, together with Perfect Corp., a Taiwan-based artificial intelligence (AI) and augmented reality (AR) beauty tech solutions provider, launched the makeup virtual Try-On experience using Perfect's Face artificial intelligence (AI) solution. This advanced AI deep learning technology creates hyper-realistic, augmented reality (AR)-powered makeup filters, allowing customers to virtually experiment with products like lip color, eye shadow, blush, and bronzer in a matter of seconds.
In June 2022, Glimpse Group Inc., a US-based company that provides virtual reality (VR) and augmented reality (AR) software and services, acquired PulpoAR for an undisclosed amount. With this acquisition, Glimpse anticipates integrating PulpoAR's capabilities into their own, aiming to leverage their relationships with some of the world's leading social media companies. This strategic move is expected to introduce advanced and value-added technologies, potentially driving significant growth for the company. PulpoAR is a US-based provider of virtual makeup try-on solutions.
Major companies operating in the virtual makeup market are Target Corp, LVMH Moet Hennessy - Louis Vuitton, L'Oreal SA, Estee Lauder Companies Inc., Chanel SA, Ulta Beauty Inc., Clinique Laboratories LLC, Mary Kay Inc., Revlon Consumer Products Corporation, Benefit Cosmetics LLC, bareMinerals, NYX Professional Makeup, Elf Cosmetics, Urban Decay Cosmetics, Meitu Inc., Lancome, Charlotte Tilbury Ltd., Maybelline New York LLC., Too Faced Cosmetics, Laura Mercier Cosmetics, NARS Cosmetics, Smashbox Beauty Cosmetics Inc., Iredale Cosmetics Inc., Perfect Corp, Purity Cosmetics Inc., CoverGirl, Visage Technologies AB, Nudestix Inc., Bobbi Brown Professional Cosmetics Inc., MAC Cosmetics Inc.
Asia-Pacific was the largest region in the virtual makeup market in 2024. The regions covered in the virtual makeup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the virtual makeup market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The virtual makeup market consists of revenues earned by entities by providing services such as professional hair styling services, skincare consultations and do it Yourself (DIY) workshops. The market value includes the value of related goods sold by the service provider or included within the service offering. The virtual makeup market also includes sales of virtual makeup tools, skincare products, virtual makeup filters, and wearable beauty devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Virtual Makeup Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on virtual makeup market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for virtual makeup ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The virtual makeup market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.