Beauty Device Market 2019-2025
New Study Reports “Beauty Device 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025”.
Introduction / Market Overview:
Due to a rising number of skin problems and hormonal disorders, global beauty device market is rapidly expanding. The industry is expected to grow at a CAGR of 19.4% from USD 31.26 billion in 2017 to USD 106.31 billion by the end of the forecast period 2018-2024, according to the latest marketing report published. Due to lifestyle changes and an increase in the consumption of alcohol and tobacco, there has been a growing number of hormonal problems that lead to hair loss or abnormal hair growth. This has given a significant push to the global beauty device market.
Add to it the trouble of pollution, which has been one of the most significant factors for various skin diseases causing papules, hives, warts, etc. Some other skin diseases include acne, hyperpigmentation, depigmentation, psoriasis, freckles, deep wrinkles, atopic dermatitis, and melisma. The global beauty device market has been driven by appearance consciousness consumers who want to hide any blemishes on skin and body. Beauty product’s marketing on social media has also increased the demand for beauty devices worldwide.
Disposable income of people has increased globally, which has resulted in high expenditure on personal and beauty care products and devices. This is particularly true in Asia, where people are turning towards beauty products to enhance their appearances. Laser treatments are widely being marketed and used for skin lightening and tightening, attracting people of all ages and genders.
Important Key Players Analysis: L’Oréal, CeraVe, AcneFree, Ambi and more.
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The global beauty devices industry is bifurcated depending upon the application, type, and geography. The kind of beauty products can further be divided into hair removal devices, cleansing devices, acne devices, light/LED therapy and photo rejuvenation devices, oxygen and steamer devices, hair growth devices, dermal skin rollers, cellulite reduction devices, and others. When segmented based on the application, the global beauty devices market can be further segmented into salons, spas, at home, and others. In terms of geography, there are four significant bifurcations, including North America, Europe, Asia Pacific, and the rest of the world.
Among all the geographies, the North American beauty device market dominates the world. The region is the market leader because the beauty device industry is one of the key revenue contributors within the manufacturing industries. Therefore, during the forecast period 2018-2024, the demand for beauty device products such as hair removal devices, cleansing devices, acne devices, light/LED therapy, etc. will create higher revenue returns. Asia Pacific beauty devices market is also quickly expanding owing to the rapid urbanization and higher household income that has increased the purchasing power of people in the region.
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Some of the leading players in the global beauty devices market, including Conair Corporation, Procter & Gamble, Koninklijke Philips N.V., Beurer GmbH, Panasonic Corporation, L’Oreal SA, Spectrum Brands Inc., Foreo AB, Groupe SEB, etc. The companies are adopting different strategies, including mergers and acquisitions, collaborations, partnerships to aide strategic expansion, and maintain a competitive edge in the global beauty devices market.
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