According to Goldstein Research, “Global Beauty Devices Market is anticipated to be driven by growing consciousness towards physical appearance and rising consumerism”
“Global Beauty Devices Market Outlook 2024”
The global beauty device market is segmented into different types such as skincare, hair care and oral healthcare. Among these segments, hair care is expected to be the fastest growing market and dominating segment over the forecast period. Further, global beauty devices market is predicted to register a CAGR of 19% over the forecast period i.e. 2016-2024.
Regionally, Asia Pacific region is set to witness the highest growth and therefore expected to be the most opportunistic market for beauty devices market players. Concentrations of geriatric population in the region, along with rising disposable incomes are the key reasons which help Asia-Pacific region to generate maximum revenue over the forecast period.
Rising demand of Beauty Devices- Key Drivers
Consumer behaviour concentrating on physical appearance, rising disposable incomes and rising consumerism are some of the key factors spurring the demand for beauty devices worldwide. In particular, demand for hair removal devices has risen exponentially.
Restraints and Challenges
Growing awareness among the population towards the side effects of beauty devices is a major growth restraining factor for global beauty devices market. These devices can have acute side effects, some of them are permanent, like edema, erythema and permanent scarring. Convincing users to shift from traditional beauty products to modified devices with potential side effects poses a challenge for the market players.
“Global Beauty Devices Market Outlook 2024” contains detailed overview of the global beauty device market in terms of market segmentation by product type, by end-user, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global beauty devices market which includes profiling of companies like L’Oreal, Koninklijke Philips, Panasonic Corporation, Procter and Gamble, Tria Beauty Inc. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global beauty device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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