Dublin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The "Beauty Devices Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global beauty devices market reached a value of nearly $44.83 billion in 2023, having grown at a compound annual growth rate (CAGR) of 14.8% since 2018. The market is expected to grow from $44.83 billion in 2023 to $95.42 billion in 2028 at a rate of 16.3%. The market is then expected to grow at a CAGR of 16.8% from 2028 and reach $207.28 billion in 2033.
Growth in the historic period resulted from the rise in number of cosmetic procedures, increased demand for personalized beauty, rising incidences of hair loss, increased prevalence of skin-related disorders and expansion of beauty and wellness centers. Factors that negatively affected growth in the historic period include stringent regulatory standards and skepticism and safety concerns.
The beauty devices market is segmented by type into hair care devices, facial devices, skin and body care devices, oral care devices and eye care devices. The hair care devices market was the largest segment of the beauty devices market segmented by type, accounting for 33.7% or $15.09 billion of the total in 2023. Going forward, the facial devices segment is expected to be the fastest growing segment in the beauty devices market segmented by type, at a CAGR of 18.2% during 2023-2028.
The beauty devices market is segmented by gender into female and male. The female market was the largest segment of the beauty devices market segmented by gender, accounting for 77.6% or $34.8 billion of the total in 2023. Going forward, the male segment is expected to be the fastest growing segment in the beauty devices market segmented by gender, at a CAGR of 18.4% during 2023-2028.
The beauty devices market is segmented by end-users into commercial or professional and domestic or personalized or homecare. The commercial or professional market was the largest segment of the beauty devices market segmented by end-users, accounting for 72% or $32.26 billion of the total in 2023. Going forward, the domestic or personalized or homecare segment is expected to be the fastest growing segment in the beauty devices market segmented by end-users, at a CAGR of 18.6% during 2023-2028.
North America was the largest region in the beauty devices market, accounting for 32.2% or $14.43 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the beauty devices market will be Asia-Pacific and Africa, where growth will be at CAGRs of 18.5% and 18.1% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 17.8% and 16.9% respectively.
The global beauty devices market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 19.28% of the total market in 2023. Procter & Gamble Company was the largest competitor with a 7.16% share of the market, followed by Dyson Limited with 2.76%, Coty Inc. with 2.67%, Koninklijke Philips N.V. with 2.36%, Conair LLC with 1.41%, Panasonic Holdings Corporation with 1.12%, Shiseido Company Limited with 0.78%, Nu Skin Enterprises Inc. with 0.57%, Spectrum Brands Holdings Inc. with 0.25% and Carol Cole Company Inc. (NuFACE) with 0.21%.
The top opportunities in the beauty devices market segmented by type will arise in the hair care devices segment, which will gain $17.63 billion of global annual sales by 2028. The top opportunities in the beauty devices market segmented by gender will arise in the female segment, which will gain $37.25 billion of global annual sales by 2028. The top opportunities in the beauty devices market segmented by end-users will arise in the commercial or professional segment, which will gain $33.67 billion of global annual sales by 2028. The beauty devices market size will gain the most in the USA at $13.06 billion.
Market-trend-based strategies for the beauty devices market include advanced microcurrent devices for enhanced skin firmness and tone, prioritizing ergonomic designs to promote comfort and safety among users, innovative hair drying technology to enhance efficiency and hair health and integration of smart technology to enhance user experience.
Player-adopted strategies in the beauty devices market include focus on leveraging innovative technology to enhance user experience and safety, focus on innovation and user-centric design, offering advanced, lightweight hair styling tools with intelligent features tailored for professional salon environments, innovating beauty devices with advanced technology and superior care solutions and diversifying business expertise through the launch of new products.
To take advantage of the opportunities, the analyst recommends the beauty devices companies to focus on enhancing skin firmness and tone with microcurrent devices, focus on ergonomic designs for enhanced user comfort, focus on enhancing efficiency and hair health with innovative technology, focus on integrating smart technology, focus on the facial devices market segment, expand in emerging markets, continue to focus on developed markets, focus on expanding omnichannel distribution, focus on value-based pricing to enhance market position, focus on digital marketing channels, focus on personalization and targeted campaigns and focus on domestic or personalized or homecare end-users.
Markets Covered:
1) By Type: Hair Care Devices; Facial Devices; Skin And Body Care Devices; Oral Care Devices; Eye Care Devices
2) By Gender: Female; Male
3) By End Users: Commercial Or Professional; Domestic Or Personalized Or Homecare
Key Companies Mentioned: Procter & Gamble Company; Dyson Limited; Coty Inc.; Koninklijke Philips N.V.; Conair LLC.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; beauty devices indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 286 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $44.8 Billion |
| Forecasted Market Value (USD) by 2033 | $207.3 Billion |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Global |
Companies Featured
- Procter & Gamble Company
- Dyson Limited
- Coty Inc.
- Koninklijke Philips N.V.
- Conair LLC.
- Panasonic Holdings Corporation
- Shiseido Company Limited
- Nu Skin Enterprises Inc.
- Spectrum Brands Holdings Inc.
- Carol Cole Company Inc. (NuFACE)
- L'Oreal Group
- Amorepacific Corporation
- LG Electronics Inc.
- YA-MAN Ltd.
- MTG Co. Ltd.
- Pretty Beauty Ltd.
- GESKE Beauty Tech Inc.
- Naos Iberica SL
- Proclaim Solutions Private Limited
- Beurer GmbH
- Medisana
- Venko Global Ltd.
- Remington
- Laifentech
- Farmec SA
- FOREO
- Reviline
- Beauty Star
- MedioStar
- Dermoestetica
- Cutera, Inc.
- Clarisonic
- Thermage, Inc.
- InMode
- Silk'n
- Sciton Inc.
- MOON Oral Beauty
- Prada
- LUBEX
- TruFacial
- HTM Eletronica
- Ibramed
- Fisioshop
- MMOptics
- KLD Biosistemas.
- Grupo Boticario
- Braun
- Huda Beauty
- Clarins Middle East
- The House of Tara International
- African Extracts Rooibos
For more information about this report visit https://www.researchandmarkets.com/r/eig86m
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