Beauty Tool Market: Current Analysis and Forecast (2022-2030)
Emphasis on Product (Skin & Personal care, Hair Care, and Others); Gender (Male and Female); Distribution Channel (Offline and Online); End-User (Personal and Professional); and Region/Country
Global Beauty Tool Market is expected to grow at a significant rate of around 5% during the forecast period 2022-2030. Beauty Tool are the tools used for enhancing one’s beauty. There are many different types of beauty tools that are available, each with its own specific purpose and function. These tools are used for enhancing skin, hair, and other parts of the body. Some of the beauty tools include makeup brushes, hair dryers, curling irons, eyelash curlers, nose hair trimmers, and many others. Additionally, Beauty tools are used to achieve a wide range of looks, from a natural and effortless appearance to a more polished and glamorous look. They can also be used to address specific beauty concerns, such as frizzy hair, uneven skin tone, or sparse eyebrows. Major companies in the market are launching varieties of beauty tool with technologically advanced features. For instance, in Apr 2023, STYLPRO launched three new electrical beauty products such as the Fabulous Firmer Neck and Face Smoother, Hot Lash Heated Eyelash Curler, and Bags Be Gone Heated Eye Wand.
The Estée Lauder Companies, Procter & Gamble, AVON PRODUCTS, L’Oréal, Revlon, Natura&Co, Edgewell Personal Care, PPI Beauty, ETUDE CORPORATION, LVMH are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, skin & personal care category is expected to grow with a significant CAGR during the forecast period”
Based on product, the market is segmented into skin & personal care, hair care, and others. The skin & personal care category is expected to grow with a significant CAGR during the forecast period. This is owing to the increasing consciousness among people about appearance and taking steps to improve their skin and overall well-being. Also, the availability of a variety of skin tools helps to exfoliate, cleanse, and hydrate the skin, leaving it looking brighter and more radiant. Additionally, the growing demand for skincare and personal care products that are gentle and effective. People are looking for products that contain natural ingredients and are free from harsh chemicals, which can irritate the skin and cause damage over time. Thus, such factors are increasing the demand for skin & personal care products in the market.
“Amongst distribution channel, offline is expected to grow with a significant CAGR during the forecast period”
Based on distribution channel, the market is bifurcated into offline and online. Among these, the offline is expected to grow with a significant CAGR during the forecast period. This is mainly due to the easily available products in stores such as supermarkets, hypermarkets, retail stores, and others. Also, people prefer to see and touch the products before buying them. Offline channels also offer the opportunity for brands to connect with their customers on a more personal level. This helps to build brand loyalty and drive sales, as customers are tending to continue purchasing products from brands that they trust and enjoy interacting with.
Beauty tool Market Report Coverage
“North America is anticipated to grow at a substantial CAGR during the forecast period”
In 2021, North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand for natural and eco-friendly products, rising awareness of personal grooming, higher disposable income, and the influence of social media are some of the factors increasing the market demand for beauty tools in the market. The growing demand for sales is due to soaring consumer interest in technologically driven tools with advanced materials. Furthermore, the rapidly increasing popularity of the beauty industry is one of the factors impacting the beauty & cosmetic market which in turn is increasing the market of beauty tools in the region. Also, major players in the market continue to launch new products with technologically advanced features. For instance, in Aug 2020, Selena Gomez’s Rare Beauty launched the First Line of Beauty Products in the U.S., Canada, and Mexico Exclusively at Sephora. The products are Optimist 4-in-1 Mist, and the Liquid Touch Weightless Foundation & Liquid Touch Brightening Concealer, which are each available in 48 shades to suit all skin tones.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global beauty tool market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Beauty Tool Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global beauty tool market were the three major steps undertaken to create and analyze the adoption of beauty tool in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global beauty tool market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the beauty tool market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the beauty tool market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, gender, distribution channel, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the beauty tool market. Further, we conducted factor analysis using dependent and independent variables such as various product, gender, distribution channel, and end-user of beauty tool. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the beauty tool market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global beauty tool market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the beauty tool market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global beauty tool market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global beauty tool market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, gender, distribution channel, and end-user in the global beauty tool market.
The main objective of the Global Beauty Tool Market Study
The current & future market trends of the global beauty tool market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the beauty tool market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, gender, distribution channel, and end-user.
- Define and analysis of the regulatory framework for the beauty tool
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the beauty tool market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the beauty tool market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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