The factors surging the growth of the global beauty devices market include increasing disposable income, rising geriatric population, growing awareness through various advertisements & promotions, increasing prevalence of skin related diseases, and increasing appearance consciousness among consumers.
Global Beauty Devices Market was valued at $29 Billion in 2016 and expected to reach $113 Billion by 2024, growing at a CAGR of 18.3% from 2016 to 2024. In geographical segment, Asia-Pacific and Europe are anticipated to grow at a CAGR of 20.6% and 19.4%, respectively, over the forecast period 2016 - 2024.
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The global beauty devices market is majorly driven by increasing occurrence of skin diseases and hormonal syndromes, growing disposable income, increasing elderly population, and rising appearance awareness among consumers. Though, high cost of beauty devices and possibility of side effects may restraint the growth of the market.Furthermore, increasing knowledge of eco-friendly, personalized home beauty devices and product innovations would provide growth opportunities for the market during the forecast period 2016 - 2024.
The global beauty devices market has been segmented into device type, usage area, and geography. Device type includes skin dermal rollers, cellulite reduction devices, hair removal devices, cleansing devices, rejuvenation devices, hair growth devices, light/LED therapy & photo rejuvenation devices, oxygen & steamer devices, acne devices, and others.
Usage area consists spa, salon, at home, and others. Hair removal devices and cleaning devices held the largest market share in 2016.
Salon accounted for the largest market share in 2016, while at home is anticipated to attain fastest CAGR during the forecast period, 2016 – 2024.
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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. North America and Asia-Pacific accounted for the largest market share with 52.1% and 22.3%, respectively in 2016.
In terms of growth Asia-Pacific is expected to grow with the fastest CAGR 20.6%, driven by, growing disposable income, high population base, and market expansion by major companies.
The major key players operating in this market are Koninklijke Philips N.V., Panasonic Corporation, Syneron Medical Ltd., Nu Skin Enterprises, Carol Cole Company, Home SKinovations Ltd., Procter & Gamble, Lumenis Ltd., L’Oreal S.A., and TRIA Beauty, Inc., among others.
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Scope of the Global Beauty Devices Market
Device Type Segments
- Cellulite Reduction Devices
- Skin Dermal Rollers
- Hair Removal Devices
- Cleansing Devices
- Hair Growth Devices
- Rejuvenation Devices
- Light/LED Therapy & Photorejuvenation Devices
- Acne Devices
- Oxygen & Steamer Devices
- Other Devices
Usage Area Segments
- At Home
- Other Usage Areas
- North America
- South Korea
- South America
- Middle East
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