Global Beauty Devices Market is Estimated to Reach $115 Billion by 2025, Says Accurize Market Research
Increased disposable income and awareness among people to drive the market
Major reasons pushing the growth of the beauty devices market are the increase in disposable income, rising population, and the awareness through various advertisements & promotions, increasing prevalence of skin-related diseases, and increasing appearance consciousness among consumers. Despite the increase, high cost of beauty devices and the possibility of side effects would hamper the adoption. Although increasing popularity of eco-friendly, personalized, and at-home beauty devices could provide several scopes for future growth in the coming years.
The global beauty device is segmented based on device type, usage area, and geography. The device type segment of the beauty device market is segregated into cellulite reduction devices, skin dermal rollers, hair removal devices, hair growth devices, cleansing devices, rejuvenation devices, light/LED therapy & acne devices, oxygen & steamer devices, and others. The usage area segment is further categorized into a salon, spa, at home, and others. Geographically, the beauty device market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
“Salon accounted for the largest market share in the usage area segment", says Accurize
Salon held the largest market share in 2017, while at home is expected to attain the fastest CAGR during the forecast period, 2017 – 2025. While in the device type segment, hair removal devices and cleaning devices accounted for the major segment share in 2017.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
North America and Asia-Pacific held the majority of market share with 52% and 22%, respectively in 2017. In terms of growth, Asia-Pacific is anticipated to grow with the fastest CAGR of 20.6%, due to, high population base, growing disposable income, and market expansion by major companies.
Top players in the market
Major companies operating in the market are Panasonic Corporation, Koninklijke Philips N.V., Syneron Medical Ltd., Nu Skin Enterprises, Home SKinovations Ltd., Carol Cole Company., Procter & Gamble, L’Oreal S.A., Lumenis Ltd., and TRIA Beauty, Inc., among others.
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