Beauty Devices Market Size 2022-2030, Market Share Analysis, Growth, Trends, Covid 19 Outbreak Impact Research Report Added by Precedence Research.
The global beauty devices market size is projected to hit USD 58.31 billion by 2030. Furthermore, the CAGR from 2022 to 2030 is positioned to be at a CAGR of 7%.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2022 to 2030.
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Beauty devices are extensively used across the globe to treat a number of skin issues such as acnes, pigmentation, blemishes, age spots, wrinkles, and freckles. The rising demand from the young population for the beauty devices is significantly driving the market growth. The rising concerns among the young men and women regarding their appearances and aesthetics is propelling the demand for the beauty devices. Furthermore, rising geriatric population is a major factor that augments the market growth.
According to the United Nations, the global population aged 65 years or above is estimated to reach 1.5 billion by 2020. The desire to look young among the aging women population is fostering the demand for the anti-aging devices. Further, the rising awareness regarding the beauty devices and different skin treatments through the social media platforms is exponentially contributing towards the growth of the global market.
Crucial factors accountable for market growth are:
- Rising consumer expenditure on beauty and cosmetics
- Rising cases of road accidents that causes scars
- New product launches for at-home use of beauty devices
- Growing geriatric population across the globe
- Rising prevalence of Hirsutism among women
- Rising importance of social media marketing
- Huge youth population in developing nations
- Rising penetration of spas and salons
Drivers – Growing prevalence of skin issues such as acne, pigmentation, and photoaging due to the extended exposure to sunlight and pollution is boosting the beauty devices market. Further, rising awareness regarding the availability of various beauty devices among the consumers especially in the developing markets is positively impacting the market growth.
Restraints – There are several side effects associated with the beauty devices such as edema, scarring, and burns are the major factors that may impact the beauty devices market growth in a negative way and may hamper the market growth during the forecast period.
Opportunities – New product developments and new product launches by the market players will provide further growth avenues in the market. Moreover, market players are focusing on providing new at-home beauty devices to the consumers through their direct-to-consumer distribution channels.
Challenges – Low penetration in the developing and underdeveloped market coupled with the lack of consumer awareness is a major challenge to be overcome by the market players in order to grow in the upcoming future.
- Based on the type, the hair removal devices segment was the largest segment in 2020. This is attributed to the extensive use of hair removal devices. The spas and salons play a significant role in the consumption of hair removal devices owing to their regular need for serving the women consumers. Further, the rising cases of hirsutism among the women are boosting the demand. Hirsutism is a condition in which the women develops male like hair patterns on chest, back, and face. According to the National Center for Biotechnology Information, around 10% women in US are suffering from hirsutism.
- Based on the application, the home segment is expected to be the most opportunistic segment owing to the rising focus of the manufacturers to provide beauty devices to the consumers for at-home use. The rising consumer expenditure of beauty and cosmetic products is expected to fuel the growth of this segment.
North America dominated the global beauty devices market in 2020 and is expected to retain its position throughout the forecast period. North America is characterized by increased disposable income, rising geriatric population, increased awareness regarding the beauty devices, higher adoption of advanced technology, and increased demand for personal care products. The increased preferences among the consumers for self-care is boosting the demand for the beauty devices in the region. Further, the presence of various regional players and various developmental strategies adopted by them is positively impacting the growth of the market.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. This is attributable to huge population, rapid urbanization, rising disposable income, rising awareness regarding the availability of beauty devices, and improved living standards. The rising prevalence of skin problems owing to the rising pollution is driving the market growth in the region. Further, the rising penetration of social media and aggressive marketing by the players through social media platforms is fueling the growth of the beauty devices market in the Asia Pacific region.
The beauty devices market report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation, and so on.
Some of the key players in the global beauty devices market include:
- Panasonic Corporation
- YA-MAN Ltd.
- MTG Co. Ltd.
- TRIA Beauty, Inc.
- L’Oreal S A
- Lumenis Ltd.
- Home Skinovations Ltd.
- Nu Skin Enterprises
- Carol Cole Company Inc.
- Koninklijke Philips N.V.
- Conair Corporation
- Candela Corporation
- Spectrum Brands Holdings Inc.
- Capillus LLC.
Segments Covered in the Report
- Acne Devices
- Hair Removal Devices
- Hair Growth Devices
- Cleansing Devices
- Rejuvenation Devices
- Oxygen & Steamer Devices
- North America
- Asia Pacific
- South Korea
- Rest of the World
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