Virtual Makeup Global Market Report 2024

The virtual makeup market size has grown exponentially in recent years. It will grow from $0.74 billion in 2023 to $0.91 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%.The expansion of beauty offerings, the increasing importance of online channels for omnichannel retailers, the shift towards a healthier lifestyle, the growing financial independence among women, and the rise of social selling contributed to the growth observed in the historic period in the virtual makeup sector.

The virtual makeup market size is expected to see exponential growth in the next few years. It will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 23.3%. In the forecast period, the robust internet penetration, increasing number of active social media users, expanding digital presence and marketing efforts, rising consumer spending, and the growing demand for organic cosmetics are expected to contribute to the growth of the virtual makeup industry. Major trends anticipated during this period include product innovation, technological advancements, the evolution of branding techniques, the adoption of augmented reality (AR) and artificial intelligence (AI) technologies, and integration into the metaverse.

The robust internet penetration is poised to drive the expansion of the virtual makeup market in the foreseeable future. The internet, serving as a global network of billions of computers and electronic devices, facilitates access to vast information, global communication, and diverse activities. Internet penetration, influenced by socioeconomic factors and cultural dynamics, has a pervasive impact on various aspects of contemporary life. The prevalence of high-speed internet ensures smooth streaming and interaction with virtual makeup platforms, offering users seamless and immersive experiences as they experiment with different makeup looks in real-time. As of November 2022, the International Telecommunication Union reported that approximately 5.3 billion individuals, constituting 66 percent of the global population, were estimated to be using the internet, reflecting a 6.1 percent growth rate from the previous year. This substantial internet penetration is a key driver propelling the growth of the virtual makeup market.

Prominent companies in the virtual makeup market are at the forefront of technological advancements, employing tools such as Perfect's Face artificial intelligence (AI) solutions to enhance customer experiences with sophisticated features. AI-driven makeup solutions utilize algorithms to analyze facial features, skin tone, and other relevant factors, allowing for the virtual application of makeup in a realistic and personalized manner. A notable example is Walmart Inc., a US-based retail corporation, partnering with Perfect Corp., a Taiwan-based AI and AR beauty tech solutions provider, to introduce the Makeup Virtual Try-On experience. Launched in October 2023, this innovative solution employs Perfect's Face AI technology to create hyper-realistic AR-powered makeup filters. Customers can virtually experiment with products such as lip color, eye shadow, blush, and bronzer, providing an instantaneous and immersive makeup try-on experience.

In June 2022, Glimpse Group Inc., a US-based provider of virtual reality (VR) and augmented reality (AR) software and services, made a strategic acquisition of PulpoAR for an undisclosed amount. Glimpse Group envisions integrating PulpoAR's capabilities to leverage relationships with leading social media companies. This strategic move positions Glimpse to introduce advanced technologies, potentially fostering substantial growth. PulpoAR, a US-based provider of virtual makeup try-on solutions, adds valuable expertise to Glimpse's portfolio, enhancing its position in the dynamic virtual makeup market.

Major companies operating in the virtual makeup market report are Target Corp, LVMH Moët 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., Lancôme, 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 2023. 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.

Virtual makeup involves utilizing augmented reality (AR) technology to digitally apply makeup to a user's face in real time. This technology enables customers to virtually try on makeup products using a mobile device or live camera, eliminating the need for physical application.

The primary categories of virtual makeup include virtual eye makeup try-ons, virtual lips makeup try-ons, and virtual face makeup try-ons. Virtual eye makeup try-on technology enables users to experiment with different eye makeup products in real-time, utilizing augmented reality (AR) and artificial intelligence (AI). These technologies find applications in various sectors, including consumers and cosmetics retailers.

The virtual makeup market research report is one of a series of new reports that provides virtual makeup market statistics, including virtual makeup industry global market size, regional shares, competitors with a virtual makeup market share, detailed virtual makeup market segments, market trends, and opportunities, and any further data you may need to thrive in the virtual makeup industry. This virtual makeup market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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.


This product will be delivered within 3-5 business days.