Beauty Devices Market Size Worth USD 74.19 Billion in 2032 | Emergen Research

Vancouver, Jan. 03, 2024 (GLOBE NEWSWIRE) -- The global beauty devices market size was USD 24.40 Billion in 2022 and is expected to register a rapid revenue CAGR of 11.8% during the forecast period. The market's expansion is attributed to the growing awareness about various skin issues and continuous technological advancements in beauty devices.

The escalating use of beauty products is fueled by a rising consciousness about skin problems worldwide. Factors such as increased exposure to Ultraviolet (UV) radiation and pollution contribute to skin issues like sunburn, hair loss, and diminished skin sensitivity. Common conditions such as acne, psoriasis, deep wrinkles, and melasma affect millions of individuals globally. Personalized beauty treatments are gaining traction, with consumers seeking tailored solutions for their skin concerns. Innovative technologies, including Artificial Intelligence (AI), are employed in beauty apps such as the WaySkin app to identify skin conditions, monitor post-treatment results, and recommend suitable skincare products.

However, challenges such as the high cost of beauty gadgets, lack of consumer knowledge about their benefits, and the availability of less expensive alternatives could impede market growth. Adverse reactions to certain beauty devices, including swelling and blistering, also limit their usage.

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A notable trend in the beauty devices market is the increasing demand for at-home beauty devices providing practical solutions for issues like hair removal and acne. The convenience and simplicity of use have led to a surge in demand for these portable devices. For example, L’Oréal's Brow Magic, introduced in January 2023, is an electronic eyebrow cosmetic applicator designed for at-home use, enabling users to create customized brow designs quickly.

Key Market Segments:

1. Type Insights:

The hair removal devices segment dominated the market in 2022, driven by the rising demand for smooth and hair-free skin. Technological improvements, such as lasers and Intense Pulsed Light (IPL), enhance the safety and efficacy of hair removal devices.

The light/LED therapy and photo rejuvenation devices segment is anticipated to experience fast revenue growth, addressing various skin concerns like pigmentation, fine lines, and wrinkles.

2. Application Insights:

Salons are expected to hold a significant revenue share due to the broad spectrum of professional beauty services offered. Salons invest in cutting-edge beauty devices to enhance customer experiences and provide effective treatments.

The home segment is forecasted to register the fastest revenue growth, driven by the increasing affordability and ease of using beauty devices at home. At-home beauty treatments are gaining popularity, eliminating the need for salon visits.

3. Portability Insights:

The pocket-sized/handheld device segment is projected to dominate the market, emphasizing the convenience and portability of these devices. Lightweight and easy to carry, handheld devices allow users to maintain their skincare routines on the go.

4. Regional Insights:

North America led the market in 2022, driven by the rising prevalence of skin and hair disorders, an aging population, and increased awareness of personal hygiene. Acquisitions, mergers, and new product launches further contribute to the region's market dominance.

Europe secured the second-largest revenue share, with increasing spending on personal grooming and a rising adoption of electronic devices. The introduction of innovative technologies in countries like Germany is expected to drive market growth.

The Asia Pacific region is poised for the fastest revenue growth, fueled by an aging population, accessibility to diverse treatment options, and a prevalence of skin, hair, and dental disorders. The rapid growth of the e-commerce industry in countries like Japan and China is also a contributing factor.

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Scope of Research

Major Companies and Competitive Landscape

The global beauty devices market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective beauty devices in the market. Some major players included in the global beauty devices market report are:

• Panasonic Corporation
• Lumenis Ltd.
• Nu Skin Enterprises Inc.
• TRIA Beauty Inc.
• Home Skinovations Ltd.
• Carol Cole Company Inc.
• L’Oreal SA
• Candela Corporation
• YA-MAN Ltd.
• MTG Co. Ltd.
• Koninklijke Philips N.V.
• LightStim
• Spectrum Brands Holdings Inc.
• Conair Corporation
• Project E Beauty
• Dr. Dennis Gross Skincare LLC
• Beauty Bioscience Inc.
• FOREO AB
• Cyden Limited
• Amorepacific Corporation

Strategic Development

• In March 2020, Panasonic Corporation introduced the EH-XR10 beauty device. The device purifies and eliminates pollutants from the skin using high-frequency vibration technology. This technology has a warming action that helps to enhance the absorption of skin care products by opening pores.
• In August 2020, Philips NV introduced the Philips Lumea IPL, a brand-new beauty device. This device eliminates hair and stops it from growing back by using powerful pulsed light technology. It states that using it on the face, arms, legs, and bikini area can be both safe and effective.
• In January 2021, Nu Skin Enterprises Inc. developed ageLOC Boost device, which combines micro currents waveforms & variable pulse technology resulting in dramatically brighter, plumper, as well as more bouncy skin.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global beauty devices market on the basis of type, application, portability, mode of operation, gender, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Cleansing Devices
  • Hair Removal Devices
  • Skin Dermal Rollers
  • Acne Devices
  • Light/Light Emitting Diode (LED) Therapy and Photo Rejuvenation Devices
  • Oxygen and Steamer Devices
  • Hair Growth Devices
  • Cellulite Reduction Devices
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Salons
  • Spa
  • Home
  • Others

• Portability Outlook (Revenue, USD Billion; 2019-2032)
  • Pocket-Sized/Handheld Device
  • Fixed

• Mode of Operation Outlook (Revenue, USD Billion; 2019-2032)
  • Electric and Battery Operated
  • Manual

• Gender Outlook (Revenue, USD Billion; 2019-2032)
  • Female
  • Male

• End-use Outlook (Revenue, USD Billion; 2019-2032)
  • Commercial/Professional
  • Domestic/Personalized/Homecare

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. ASEAN Countries
    6. Oceania
    7. Rest of APAC
  • Latin America
    1. Brazil
    2. Mexico
    3. Rest of LATAM
  • Middle East & Africa
    1. GCC Countries
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of Middle East & Africa

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