Home-Use Beauty Devices Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Hair Removal, Cleansing, Acne Treatment, Light-Emitting Diode (Led) Therapy and Photorejuvenation, Oxygen/Facial Steaming, Hair Growth, Others); Technology (Laser/ Light, Vibration, Rf Energy, Nano-Iconic, Microneedling, Electroporation); End User (Beauty Salons, Specialty Stores, Online Channels, Others) and Region/Country
The global home-use beauty devices market is experiencing significant growth due to the increasing geriatric population, skin issues caused by sun rays, and awareness regarding personal hygiene among consumers. For instance, in January 2020, L’Oréal S.A. unveiled an artificial intelligence (AI)-enabled at-home skincare device, named Perso. It is equipped with a patented motorized system that allows it to provide personalized skincare formulas for customers (in the form of moisturizers, serums, and under-eye creams) based on real-time data and trend analysis. The Perso device is operable via Bluetooth and is NFC (Near-field Communication) compliant, which basically means that it works best in tandem with a smartphone. Thus, with the growing focus on technology and smartphones used by consumers which gives detailed information across the world.
Global Home-use beauty devices market is expected to register a CAGR of around 25% over the period of 2021-2027. This is mainly due to the rapid advancement in technology and celebrity endorsements are responsible for the market growth of home-use beauty devices. Furthermore, the increasing income of the people significantly contributes to the market for aesthetic beauty devices. As per the U.S. census bureau., the average annual family income in the U.S. is increased by 6% in 2020 compared with 2015 which accounted for $63,683 in the former year and reached $67,521 in the latter year. Moreover, the increasing elderly population of the country is also responsible for boosting the market for wrinkle removal and skin tightening devices in the U.S. The demand for beauty products also increased due to the rising prevalence of medical conditions like hormonal imbalance in females can cause excessive hair growth responsible and skin diseases like acne and cold soreness. Therefore, the market for home-use beauty devices is expected to witness significant growth during the forecast period.
Nu Skin Enterprises Inc., Tria Beauty Inc., Koninklijke Philips N.V., Carol Cole Company, L’Oreal Group, Procter & Gamble, Home Skinovations Ltd., Photomedex Inc., Candela Corporation, MTG Co. Ltd. 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 Type, hair removal category accounted for the majority share in the market in 2020”
Based on type, the market is categorized into hair removal, cleansing, acne treatment, light-emitting diode (led) therapy and photo rejuvenation, oxygen/facial steaming, hair growth, and others. Amongst types, the hair removal category is expected to witness the highest CAGR during the forecast period. This is mainly due to improved methods that are quick, painless, and more effective procedures such as laser hair removal treatment. Over the forthcoming years, the rising popularity of home-use hair removal techniques among the younger generation is likely to boost the demand for hair removal solutions.
“Amongst Technology, laser/ light is expected to witness highest CAGR during the forecast period”
Based on technology, the market is categorized into laser/ light, vibration, RF energy, nano-iconic, micro needling, and electroporation. Among these, laser/ light is expected to witness the highest CAGR during the forecast period. This technology boosts the production of fibroblasts, which results in an increase in the volume of collagen. This in due course makes the skin fresher, younger-looking, and stronger, thereby boosting the overall look. Laser/light targets specific areas of the skin, without harming the healthy skin part. The continuous development of the new products and procedures is likely to strengthen the market of the segment during the forecast period
“North America to witness significant growth during the forecast period”
North America is expected to show significant growth in the home-use beauty devices market. The major contributors to the growth of this market are US and Canada. The increase in technology development in emerging economies, as well as the expansion of the beauty industry, has contributed to the growth of the North American market. North America has a higher adoption rate of technologically advanced and innovative solutions and devices. The enhanced consumer awareness regarding the availability of various beauty devices and skin treatments has propelled the growth of the market in the region. Hence these require devices in the region which drives the demand for home-use beauty device systems in the region. Furthermore, increasing geriatric population and new product launches, and various developmental strategies adopted by the regional market will drive market growth. The endorsement by Hollywood stars also significantly contributed to the considerable growth of the state in the U.S beauty devices market. For instance, according to the skin cancer organization, people who use sunscreen with an SPF of 15 or higher daily show 24% less skin aging than those who do not use sunscreen daily.
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 portfolio, 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:
Global home-use beauty devices 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
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global home-use beauty devices market were the three major steps undertaken to create and analyze the adoption of home-use beauty devices 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 home-use beauty devices 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:
Seek More Details About Research Methodology
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 home-use beauty devices 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 home-use beauty devices 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 type, technology, end user, and region. 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 home-use beauty devices market. Further, we conducted factor analysis using dependent and independent variables such as various type, technology, end user, and region of home-use beauty devices. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Home-use beauty devices 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 home-use beauty devices 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., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 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 home-use beauty devices market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global home-use beauty devices market in terms of solutions 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
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 home-use beauty devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, technology, end user, and region in the global home-use beauty devices market.
The main objective of the Global Home-use beauty devices Market Study
The current & future market trends of the global home-use beauty devices 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 home-use beauty devices 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 type, technology, end user, and region.
- Define and analysis of the regulatory framework for the home-use beauty devices market industry.
- 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 home-use beauty devices market for the major region.
- Major countries of regions studied in the report include North America, Europe, Asia Pacific, and Rest of the world.
- Company profiles of the Home-use beauty devices 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
Related Reports
Customers who bought this item also bought
Antibiotic Resistance Market: Current Analysis and Forecast (2024-2032)
Emphasis on Disease Type (Urinary Tract Infections, Intra-Abdominal Infections, Blood Stream Infections, Clostridium Difficile Infections, And Others); Pathogen Type (Acinetobacter baumannii, Pseudomonas aeruginosa, Staphylococcus aureus, Streptococcus pneumoniae, and Others); Drug Class (Oxazolidinones, Lipoglycopeptides, Tetracyclines, and Others); and Region/Country
October 8, 2024
