According to recently updated report by Bekryl, the global beauty devices market size is expected to exceed US$ 86 billion by 2028.
Industry players registered upward trajectory growth in first half of 2018 and is expected to carry forward the growth momentum throughout the forecast period. Top six beauty device players accounted for 76% of global revenue share. Cutthroat competition has led leading companies to adopt inorganic growth strategy. Mergers and acquisitions are expected to play a key role in shaping the industry growth.
Product pricing is another key trend noticed in the market. Hyper-competition has led players to launch economic price products. This in turn has led to higher market capitalization. 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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Few Key Excerpts from the Global Beauty Devices Market Report:
North America to Dominate the Global Sales Revenue in 2019: North America is estimated to account for 39% of global sales revenue in 2018. The region will continue to drive the healthy growth for industry players in 2019. Sheer size of middle aged population, higher healthcare and beauty care spending has created favorable business environment in the region. Also, there has been significant rise in skincare issues in the region. As per the recently conducted study, nearly 85% of young population are prone to acne in America.
Germany to Dominate the Western Europe Beauty Device Market:
In Europe, Germany accounted for over 26% of total regional sales. There are already well established players operational in Western Europe. Industry is highly consolidated with top six players accounting for 81% of total regional revenue share. The net consumer spending has increased by 2.15% in 2017 than that in 2016. This is expected to boost homecare beauty device market in the region.
At-home Beauty Devices Market to Gain Prominence:
At-home beauty device tools is registering impressive 22.6% growth – higher than the industry average. Demand for such tools has increased with rise in digitization and lower product prices. Philips, Beurer, and Home Skinnovations has expanded their product portfolio and holds considerable market share.
Leading Players are Focusing on Digitization and Product Innovation in Beauty Device Segment
Companies are focusing on product innovation in order to stay agile and build brand reputation. AS of 2018, midsize players are coming up with innovative products in order generate higher ROI. Leading players are facing pricing level differentiation from midsize companies. As a result, leading companies are actively leveraging various advanced features including IoT modules. Such initiative is expected to boost overall growth in already saturated beauty device market.
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 The Proctor & Gamble Company, Home SKinovations Ltd, L’Oreal SA, Lumenis Ltd., Panasonic Corporation, Photomedax Inc., 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 Growth Devices
- Oxygen and Steamer Devices
- LED Therapy Devices
- Cleansing Devices
- Hair Removal Devices
- Acne Devices
- Skin Dermal Rollers
- Cellulite Reduction Devices
- Other Beauty Devices
Beauty Devices Market, By End-use:
- At-Home Usage
- Dermatology Centers
Bekryl Market Analysts is a global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader’s opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, electronics and industrial production.
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