The surging geriatric population, increasing prevalence of skin problems, growing prevalence of hormonal disorders, rising disposable income, and increasing awareness about beauty devices are the key factors that positively impact the growth of the global home-use beauty devices market. Due to these factors, the industry is expected to generate $45,956.3 million revenue by 2030, advancing at a CAGR of 20.4% during the forecast period (2020–2030).
Laser/light Category To Hold Largest Share in Market throughout Forecast Period
On the basis of technology, the home-use beauty devices market is classified into laser/light, vibrational, radiofrequency (RF) energy, nano-iconic, microneedling, and electroporation. Of these, the laser/light category is expected to lead the market in the coming years. This can be attributed to the growing usage of light-based home-use beauty devices across the globe, in many application areas, such as acne, skin rejuvenation, and hair growth, and the numerous benefits and high convenience offered by these devices. In addition, lasers can significantly shrink the redness and swelling associated with certain skin conditions, such as acne, without harming other skin areas.
Further, on the basis of indication, the home-use beauty devices market is categorized into hair removal, cleansing, acne treatment, skin rejuvenation/anti-aging, oxygen/facial steaming, hair growth, dermarolling, cellulite reduction, and others. Among these, the skin rejuvenation/anti-aging category is expected to register the highest growth rate during the forecast period, mainly due to the wide usage of home-use beauty devices in the treatment of various skin conditions, such as pigmentation, wrinkles, sun-induced freckles, blemishes, age spots, and fine lines. Other factors contributing to its fastest growth are the zero downtime after treatments, no risk of burning or other unpleasant side-effects, and increasing cost-effectiveness of these devices.
Geographically, the home-use beauty devices market in Asia-Pacific (APAC) is expected to witness lucrative growth, mainly due to the booming geriatric population and increasing awareness about the potential applications of these devices for the treatment of skin problems across the region. Furthermore, the availability of leading brands and introduction of less-expensive home-use beauty devices in the region attracts the masses 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 outbreak of the COVID-19 pandemic across the globe will negatively impact the sales of home-use beauty devices in all regions, mainly due to the lockdowns initiated, lack of labor, and reduction in online deliveries, in the short-term period.
Partnerships and Expansions Are Strongest Strategic Measures among Players in Market
Players in the home-use beauty devices market are building partnerships and expanding their geographic reach to enhance their market presence. For instance, in December 2019, Amorepacific Corporation established ‘Amorepacific X TMIC Innovation Plant’, in partnership with Alibaba Group, to expand its customer reach.
Browse report overview with detailed TOC on "Home-Use Beauty Device Market Research Report: By Technology (Laser/Light, Vibrational, Radiofrequency Energy, Nano-Iconic, Microneedling, Electroporation), Indication (Hair Removal, Cleansing, Acne Treatment, Skin Rejuvenation/Anti-Aging, Oxygen/Facial Steaming, Hair Growth, Dermarolling, Cellulite Reduction) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/home-use-beauty-devices-market
Similarly, in February 2019, YA-MAN Ltd. launched its beauty devices in Russia, to expand its customer base.
Some of the major players operating in the global home-use beauty devices market are Amorepacific Corporation, Nu Skin Enterprises Inc., Home Skinovations Ltd., L’Oréal SA, TRIA Beauty Inc., Carol Cole Company Inc., YA-MAN Ltd., Koninklijke Philips N.V., MTG Co. Ltd., Dennis Gross Skincare LLC, Spectrum Brands Holdings Inc., LightStim, Cyden Limited, Conair Corporation, and The Procter & Gamble Company.