Published: May 2021 | Report Code: LS10041 | Available Format: PDF | Pages: 277
The global beauty devices market generated $50,814.4 million revenue in 2020, and it is expected to grow at a CAGR of 20.6% during the forecast period (2021–2030). The major factors behind the growth of the market are the increasing appearance consciousness, surging awareness about beauty devices, rising prevalence of skin diseases, growing geriatric population, rising disposable income, and growing incidence of hormonal disorders.
During the COVID-19 pandemic, lockdowns and partial factory closures negatively impacted manufacturing facilities across the globe. As COVID-19 continues to spread around the world, companies have taken drastic steps, such as plant closures, to contain the spread of the infection and ensure employees’ safety. Hence, due to the pandemic, the supply of beauty devices witnessed a decline in the short term (till the third quarter of 2020), thus leading to a negative impact on the market growth rate. However, these products witnessed a notable increase in sales in the last quarter of 2020, with the resumption of manufacturing operations, lifting of lockdowns, reopening of salons, and streamlining of imports and exports.
LED therapy and photorejuvenation is expected to be the fastest-growing category in the beauty devices market during the forecast period, based on type. Furthermore, the category is expected to retain its dominant position in the upcoming years. This can be ascribed to the wide usage of these devices for treating blemishes, pigmentation, wrinkles, sun-induced freckles, age spots, and fine lines.
The salon category held the largest share in 2020 in the beauty devices market, based on usage. The increasing demand for beauty services at salons and rising number of such settings across the globe are the major factors driving the growth of the market in this category.
Geographically, North America was the largest contributor to the beauty devices market in 2020. This is mainly attributed to the high disposable income in the region, which increases the spending on personal care products. Moreover, the rising appearance consciousness among consumers is leading to the surging adoption of technologically advanced beauty devices.
The Asia-Pacific (APAC) beauty devices market is expected to witness the fastest growth during the forecast period. This is mainly attributed to the growing geriatric population and increasing awareness about beauty devices for the treatment of skin problems. Moreover, the availability of leading brands and introduction of less-expensive beauty devices in the region attract people to adopt them for various grooming purposes. The easy availability of branded beauty devices on online channels, specifically on a common portal, further drives the market growth.
The increasing launch of new and innovative beauty products in the market is helping dermatologists, clinicians, and aestheticians treat skin diseases, improve skin texture, and reduce multiple signs of aging. Beauty device manufacturing companies are continuously developing innovative products in response to the increasing demand for advanced skincare and haircare solutions. For instance, in January 2021, Nu Skin Enterprises Inc. launched the ageLOC Boost device, which uses microcurrent waveforms with the variable pulse technology to create visibly brighter, plumper, and bouncier skin.
The prevalence of skin diseases, such as photoaging, is increasing across the globe due to excessive exposure to pollution and ultraviolet (UV) radiation, thus resulting in sunburns, reduced skin elasticity, and hair loss. Skin diseases are also caused by excessive alcohol consumption, environmental pollution, and tobacco consumption. Acne, hyperpigmentation, dyspigmentation, psoriasis, freckles, deep wrinkles, atopic dermatitis, and melasma are some of the most-common skin problems.
To cure them, beauty devices are increasingly being adopted. For example, people suffering from freckles can be cured using beauty devices; thus, the rising cases of skin problems are driving the growth of the market.
The increasing awareness about the safety profile and advantages of energy-based aesthetic devices, especially laser-based devices, is a pivotal factor driving the market. Laser skin tightening is a Food and Drug Administration (FDA)-approved method for the reduction of fine lines, wrinkles, and skin laxity. Major advantages of energy-based aesthetic devices are minimal skin invasion, quick recovery, fewer side-effects, and lesser discomfort as compared to conventional, surgical beauty treatments. Moreover, these devices are cost-effective, painless, and quick to offer results. Because of these factors, the demand for energy-based aesthetic devices is increasing across the globe.
|Base Year (2020) Market Size||$50,814.4 Million|
|Market Size Forecast in 2030||$311,039.3 Million|
|Forecast Period CAGR||20.6%|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Business Model; Company Profiling|
|Market Size by Segments||By Type; By Usage; By Region|
|Market Size of Geographies||U.S., Canada, Germany, U.K., France, Italy, Spain, Russia, Switzerland, Poland, Ukraine, Netherlands, Belgium, China, Japan, India, Australia, South Korea, Singapore, Indonesia, New Zealand, Malaysia, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Saudi Arabia, South Africa, U.A.E., Israel|
|Secondary Sources and References (Partial List)||American Academy of Dermatology, British Association of Dermatologists, European Academy of Dermatology and Venereology, European Society for Pediatric Dermatology, European Spas Association, International Society of Aesthetic Plastic Surgery, Federal Union of German Associations of Pharmacists, German Association of Research-Based Pharmaceutical Companies, Germany Trade & Invest, Healthcare Compliance Packaging Council, India Brand Equity Foundation|
The global beauty devices market is fragmented in nature. Some of the major players in the market are Panasonic Corporation, Lumenis Ltd., Nu Skin Enterprises Inc., TRIA Beauty Inc., Home Skinovations Ltd, Carol Cole Company Inc., L’Oréal SA, Candela Corporation, YA-MAN LTD., MTG Co. Ltd., and Koninklijke Philips N.V.
In recent years, the players in the beauty devices industry have been involved in partnerships and facility expansions in order to attain a significant position in the market. For instance:
The global beauty devices market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Type
Based on Usage
The market for beauty devices is set to grow by 20.6% between 2021 and 2030.
The usage segment of the beauty devices industry is dominated by salons.
APAC offers the best opportunities for investments in the market for beauty devices.
The beauty devices industry is being driven by the rising prevalence of dermatological issues, rising awareness of beauty devices, and technological advancements in them.
The market for beauty devices is fragmented in nature.
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