As per a report by P&S Intelligence, the global home-use beauty devices market is predicted to reach a value of $45,956.3 million by 2030, advancing at a 20.4% CAGR during the forecast period (2020–2030). The market is growing due to the rising prevalence of skin diseases, surging geriatric population, increasing disposable income, growing hormonal disorders, and rising awareness regarding beauty devices.
In terms of technology, the home-use beauty devices market is divided into vibrational, laser/light, radiofrequency (RF) energy, microneedling, nano-iconic, and electroporation, among which, the laser/light division is expected to hold the largest share of the market in the near future. This is due to the increasing utilization of light-based home-use beauty devices around the world for a number of applications. These devices further have several benefits, such as high convenience. Laser can further shrink swelling and redness associated with some skin conditions without harming other skin areas.
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On the basis of indication, the market is classified into hair removal, acne treatment, cleansing, skin rejuvenation/anti-aging, hair growth, oxygen/facial steaming, cellulite reduction, dermarolling, and others. Out of these, the skin rejuvenation/anti-aging classification is projected to grow at the fastest pace in the coming years, as home-use beauty devices are widely being utilized for treating several skin conditions, including sun-induced freckles, wrinkles, pigmentation, fine lines, age spots, and blemishes. As these devices have no-side effects and no risk of burning, their demand is increasing across the globe.
The objective of this research includes;
Geographically, Asia-Pacific is predicted to register the fastest growth in the home-use beauty devices market in the years to come, owing to the surging geriatric population, and rising awareness regarding such devices in the region. In addition, the availability of key brands and the introduction of cheaper devices in the region is further resulting in the high adoption of home-use beauty devices by people. These products are available online, which makes it easy for people to buy them at low cost.
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The companies operating in the home-use beauty devices market are engaging in partnerships and growing their geographic reach for improving their presence in the domain. For example, ‘Amorepacific X TMIC Innovation Plant’, was established by Amorepacific Corporation in partnership with Alibaba Group, in December 2019. The aim of this move to increase the customer reach for the former company.
Some other key players operating in the home-use beauty devices market are Nu Skin Enterprises Inc., Amorepacific Corporation, L’Oréal SA, Home Skinovations Ltd., Carol Cole Company Inc., TRIA Beauty Inc., YA-MAN Ltd., MTG Co. Ltd., Koninklijke Philips N.V., Dennis Gross Skincare LLC, LightStim, Spectrum Brands Holdings Inc., Conair Corporation, Cyden Limited, and The Procter & Gamble Company.
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