Beautytech startups Radar 2024: France and Asia

Wavestone presents the 2024 edition of the Beautytech startups radar (France & Asia). You’ll discover the Beautytech startups ecosystem, from its key trends to its latest technological innovations, precursors of the sector’s future transformations.

To identify the most promising startups in the Beautytech ecosystem, in France and in Asia, our Wavestone experts have carried out continuous monitoring, followed by a qualitative and quantitative analysis of these players. In total, 92 French startups and 70 Asian startups were included in this radar based on the following selection criteria:

• French or Asian start-ups
• Start-ups created since 2014
• Fewer than 100 employees
• With a Minimum Viable Product (MVP) already on the market

Preferred target segments:

This 2024 edition of the Beautytech startups radar will focus on service and B2B startups. Indeed, Wavestone wants to emphasise service in this industry, which continues to grow by improving customer experience and operational efficiency. However, it is important to stay on the lookout for startups offering beauty products in order to follow the trends.

A new edition with an international dimension:

For the second year in a row, we have decided to deepen the international dimension of our radar by broadening our vision of Beautytech to Asia, the region driving growth in the Beautytech market. In this market, driven by local and Western demand, we observed a number of similarities, but also some interesting distinctions with the major trends in the French market.

Geographical distribution?

On the Asian radar, the majority of start-ups are based in North Asia (Japan, Korea, China), as well as in Singapore, which is increasingly standing out for its dynamism in the Beautytech landscape.

Top 5 trends:

• Personalising the customer experience
• Growing interest in medical beauty
• New sales strategies combining offline and online channels
• Consumer opinion as a marketing force
• An awakening of the Asian market to Clean Beauty

Innovation techs:

Among the most significant technological innovations, we can find AI-based diagnostic devices, virtual try-on 2.0 platforms, new cosmetic formulations and biotechnological innovations.