The global beauty devices market is expected to exceed USD 72 billion by 2025 – registering a CAGR of 12.5% during the forecast period.
The industry is highly consolidated with top six leading players accounting for over 76% of global share. Yet, at retail level, the beauty devices market is bit fragmented. Increasing competition has led to players adopting inorganic growth as key strategy. As such, mergers and acquisitions along with partnership with distribution channels is the key trend witnessed in the market.
The industry witnessed the launch of various products in the market. Companies are coming up with lower priced products to reach large consumer base along with ensuring stability over a longer period of time. Furthermore, direct sales channel is at the core of the marketing strategy for beauty devices manufacturers. The trend is likely to continue in the future with higher level of ecommerce platform adoption.
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Bekryl’s market research report, Global Beauty Devices Market Size Analysis and Industry Opportunity, finds North America to account for 39% of global sales in 2018. Rise in anti-aging cosmetics and treatment along with self-consciousness factor has created favorable business environment in the region. Also, there is significantly higher number of skin care problems in U.S. As per the Global Burden of Disease Study, acne is the most common skin conditions affecting nearly 85% of young adults in U.S., UK and France.
While developed regions will collectively account for nearly quarter of the global share, Asia Pacific beauty devices market will register fastest growth – creating higher incremental opportunity for industry players. Consumer spending on beauty products has increased by 5.7% in Asia Pacific in 2018. The trend is likely to continue in the region in coming years. As such, sales of beauty devices will register double digit growth in the region. Asia Pacific will move towards consolidation with major players expected to capture a major chunk of regional sales.
Some key trends from the global Beauty Devices market:
Trend#1: Technology Push
Technological advancement along with adoption of newer tools has led to drop in beauty devices prices. Moreover, few devices are coming up with IoT features. As such, the demand is increasing not only positively but also ensuring the higher replacement of old products with multi-benefited devices. This is offering new market opportunity for industry players – in an already saturated market.
Trend#2: Hair Removal Devices to Dominate the Global Beauty Devices Market Sales
Globally, the demand for hair removal devices is expected to dominate the sales – accounting for 19% of worldwide sales in 2017. The demand for such devices is increasing owing to non-invasive and non-surgical features. These devices are not only used in beauty salons and spas but also dermatology centers. Companies are coming up with the next generation devices that are cost effective and offer multiple benefits. Sales of these devices are prominent in North America.
Trend#3: Mergers and Acquisition to be the Key Marketing Strategy
In the last few years, there has been various mergers & acquisitions that took place in the global beauty devices market. For instance, in 2017, L’Oréal acquired Valeant pharmaceuticals for US$ 1.3 billion in cash. The deal is intended to help L’Oreal expand its business presence with control over key brands – AcneFree, Ambi and CeraVe. Several such initiative is expected to take place in coming years as the industry is getting hyper-competitive with new players entering the white space.
To know more about beauty devices market trends and data, visit: https://bekryl.com/industry-trends/beauty-devices-market-size-analysis
Some key global Beauty Devices Market Players are L’Oreal SA, Lumenis Ltd., The Proctor & Gamble Company, Home SKinovations Ltd, Photomedax Inc., Panasonic Corporation, Carol Cole Company, TRIA Beauty, Inc., Syneron Medical, and Koninklijke Philips N.V.
Research Scope and Brief Research Methodology:
Beauty Devices Market, Product Type:
- Hair Removal Devices
- Hair Growth Devices
- Oxygen and Steamer Devices
- LED Therapy Devices
- Cleansing Devices
- Acne Devices
- Skin Dermal Rollers
- Cellulite Reduction Devices
- Other Beauty Devices
Beauty Devices Market, By End-use:
- At-Home Usage
- Dermatology Centers
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