Global Beauty Devices Market was valued US$ 47.10 Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 18.80 % during a forecast period.
Global Beauty Devices Market
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers, and market disrupters in the report and the same is reflected in our analysis.
The beauty devices industry comprises active branded consumer goods operating segment with hair care, skin care, and oral care. The beauty industry is the fastest-growing categories in the consumer goods industry. It is undergoing a digital transformation as social media and e-commerce. The digital transformation has revolutionized the way brands, which can connect with the customers.
Innovation in the personal care and beauty industry has traditionally dominated by R&D in formulation chemistry and marketing budgets. Currently, a frontier has emerged in the area of devices. A shift in focus towards the quality of service, the beauty devices industry has been looking to hire a skilled workforce to drive the growth. An increase in emphasis on holistic wellbeing with people’s desire to look good and young is some of the prominent factors behind the global beauty devices market growth. In addition, consumers are openly discussing and researching innovative new products prior to purchase and rate and review them following purchase through the internet.
The beauty devices market was very dynamic in 2019. It was driven by some factors like fundamental economic, demographic, and sociological trends, globalization, and growth in the middle and upper-income classes. The demand for natural and holistic approaches to beauty is expected to grow because beauty has vast potential in terms of engaging with people on the Internet. The e-commerce platform is extending the reach of the beauty sector to far greater numbers of consumers across the globe.
The beauty industry must prepare to take on its biggest role. The consumers have raised the bar from efficacy to ethics, and their demands will evolve even further during the forecast period. The commercial purpose segment is expected to contribute a XX% share in the global beauty devices market. The growth in pollution level, working women population, and keenness toward self-care are some of the prominent factors that are expected to increase the demand for beauty devices in commercial space. Furthermore, many beauty care device key players are selling their products through commercial space like retail stores or salons. The development of the direct-to-consumer businesses is playing an important role in retail for beauty products. The large and small beauty brands have introduced high-tech beauty devices, which offer consumers new ways to integrate their personal care routines.
In 2019, the performance of the beauty devices branded consumer goods business in the matured market was positive. Despite the vast demand, the market development was the slight negative in some categories. North America region is expected to contribute a XX% share in the global beauty devices market. The high disposable income and increasing appearance consciousness are increasing the expenditure on beauty devices. The preference of consumers is changing toward organic products and technology-driven aesthetic procedures in developed countries like the US and Canada that are expected to boost the regional market growth.
Beauty brands are focusing on the usage of artificial intelligence (AI) to augmented reality (AR) to keep their customers engaged in a competitive market across the globe. Some of the prominent key players like Estée Lauder, L'Oréal, and Procter & Gamble are implementing innovative emerging technologies, from artificial intelligence to augmented reality to deliver more personalized, the tailor-made approach of beauty to customers. The consumers are looking to try new beauty products. The major emerging market key players are making strategic acquisitions in more mature and sophisticated markets. For instance, in 2019, the Henkel group has acquired 51% of the share in salon.com LLC. The acquisition has strengthened the beauty care business hair colorants portfolio and expands its digital business.
The objective of the report is to present a comprehensive analysis of the Global Beauty Devices Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
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The report also helps in understanding Global Beauty Devices Market dynamics, structure by analyzing the market segments and projects the Global Beauty Devices Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Beauty Devices Market make the report investor’s guide.
Scope of the Global Beauty Devices Market
Global Beauty Devices Market, By Type
• Hair Removal Devices
• Cleansing Devices
• Acne Devices
• Rejuvenation Devices
• Light/LED Therapy and Photorejuvenation Devices
• Oxygen and Steamer Devices
• Hair Growth Devices
• Skin Derma Rollers
• Cellulite Reduction Devices
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