Beauty tech market remains fragmented as L'Oréal leads 2024 sales

The Business Research Company says the global beauty tech market is still highly fragmented, with the top 10 players holding just 6% of revenue in 2024 and L’Oréal S.A. leading sales at 1%. The report points to AI diagnostics, virtual try-on tools and at-home smart devices as the main battlegrounds shaping competition through 2035. Why it matters: - Beauty tech is moving from a niche category to a key growth area for cosmetics, device makers and digital platforms. - The market’s fragmentation leaves room for partnerships, product launches and platform expansion. - Demand is rising for personalized skincare, AI-powered diagnostics and at-home beauty tools. What happened: - The Business Research Company published a 2026 report on the beauty tech market with forecasts running through 2035. - The report says L’Oréal S.A. led global beauty tech sales in 2024 with a 1% market share. - The report identifies the market as dominated by global beauty companies, specialized device makers and digital skincare providers. - The report highlights a June 2024 launch of L’Oréal’s Big Bang Beauty Tech Innovation Program in the SAPMENA region. - More information is available in the full report and the sample request . The details: - The top 10 players accounted for 6% of total market revenue in 2024. - Leading companies include L’Oréal S.A., The Estée Lauder Companies Inc., Unilever, Procter & Gamble, Shiseido Company Limited, Beiersdorf AG, LVMH, Coty Inc., Amorepacific Corporation and Kao Corporation. - Other major players named in the report include Sephora, Ulta Beauty, Dyson, Koninklijke Philips N.V., Panasonic, Nu Skin Enterprises, Foreo, Xiaomi, Ya-Man, Tria Beauty, Perfect Corp., Avon, e.l.f. Beauty, Oriflame, Mary Kay, Conair, FKA Brands, MTG Co Ltd and Hitachi. - Key raw material suppliers include BASF SE, Croda International, Evonik Industries, Dow, Ashland, Symrise, Givaudan, Clariant, Solvay, Lubrizol, DSM-Firmenich, Wacker Chemie, Shin-Etsu Chemical, Momentive Performance Materials, KCC Corporation, Sensient Technologies, Merck KGaA, JRS Pharma and Lonza. - Major wholesalers and distributors include Ingram Micro, TD SYNNEX, Sally Beauty Holdings, SalonCentric, Beauty Systems Group, CosmoProf, Rexel, Alibaba Group, Amazon, Nykaa, Douglas Holding, Blue Star Beauty, Marubeni and Azelis Group. - Major end users include Sephora, Ulta Beauty, The Body Shop, Chanel, Dior, MAC Cosmetics, Lakmé, Clinique, Laneige, Innisfree, Benefit Cosmetics, Clarins, Revlon, Superdrug, Watsons, KIKO Milano, Perfect Diary, Tatcha, Glossier and Charlotte Tilbury Beauty. - The report says companies are investing in AI-based beauty tools, virtual try-on platforms, smart devices, data analytics and sustainable beauty tech. - The report says artificial intelligence-based beauty platforms and virtual skincare technologies are reshaping consumer engagement and data-driven beauty experiences. Between the lines: - The small revenue shares among the leaders suggest no single company has locked up the category. - The competitive edge appears to come from digital ecosystems, not just product portfolios. - L’Oréal’s innovation push signals that open innovation and digital commerce are becoming central to market strategy. - The report’s emphasis on personalization suggests consumers are driving a shift toward software-enabled beauty services and connected devices. What’s next: - The report expects strategic partnerships, digital platform expansion and product innovation to strengthen leading players’ positions. - Companies are likely to keep prioritizing AI, augmented reality and connected beauty hardware. - The report’s 2026 edition adds market attractiveness scoring, TAM analysis, company scoring matrix graphics, Excel dashboards, hotspots infographics and updated trend visuals. - The Business Research Company says it continues to offer custom research packages for market entry, competitor tracking and supplier-distributor analysis. The bottom line: - Beauty tech is becoming a race to combine beauty brands with software, data and connected devices, and the market still has room for challengers to win share.