Consumer Goods

Beauty Devices Market is Expected to Reach USD 118.18 Billion by 2031

Feb 2024

Consumer Goods

As per the report published by Kings Research, the global Beauty Devices Market was valued at USD 48.29 billion in 2023 and is projected to reach USD 118.18 billion by 2031, growing at a CAGR of 12.05% from 2024 to 2031.

The growing popularity of beauty devices that allow individuals to perform treatments at home has led to an increased global demand for beauty devices. Consumers are actively searching for convenient alternatives for skincare and haircare that can replicate the luxurious and professional experiences offered at spas and salons. Additionally, the surge in popularity of beauty devices can be attributed to technological advancements, which have made it convenient for individuals to attain professional-level outcomes from the comfort of their own homes. With an assortment of options available, including facial cleansing brushes, LED light therapy masks, laser hair removal devices, and micro-current facial toning devices, consumers can benefit from time and cost savings by avoiding frequent trips to spas or salons. Moreover, these devices provide the flexibility to personalize treatments according to specific skincare and haircare concerns.

Moreover, collaboration between beauty device manufacturers and skincare brands has led to the development of innovative and effective products that cater to a wide range of needs. These collaborations allow beauty device manufacturers to enhance their devices with the latest skincare ingredients and formulations, thereby ensuring that users receive the maximum benefits from their devices. On the other hand, skincare brands can leverage the advanced technology of beauty devices to deliver their products more effectively and efficiently. Through collaboration, both parties can innovate and develop unique beauty solutions that cater to the specific needs and desires of consumers.

Key Insights

  • By product type, the hair care devices segment held a significant revenue share of 46.54% in 2023
  • By consumer orientation, the men segment is expected to register a rapid growth rate of 12.39% over the forecast period
  • Based on region, North America accounted for the largest market share of 35.25% in 2023

Philips Introduced Innovative High-Tech Haircare Solutions and DIY Grooming Products for Women

In July 2020, Philips, a renowned company in the field of health technology, introduced a collection of do-it-yourself (DIY) products specifically designed for women's grooming needs, encompassing hair care and facial beauty. Recognizing the importance of individualized care, Philips has created innovative microprocessor-powered devices that dynamically adjust and provide tailored care for various hair types, ensuring a truly personalized experience.

Social Media Influence to Drive Demand for Beauty Devices

The influence of social media platforms, beauty blogs, and online content creators plays a significant role in shaping beauty trends. Social media exposure significantly impacts consumer preferences and drives interest in the latest beauty devices. Online content creators and beauty bloggers have the ability to reach a wide audience and share their personal experiences and recommendations. Their opinions and reviews hold immense prominence in shaping beauty trends, as consumers frequently seek their guidance and inspiration. Furthermore, social media platforms provide a space for beauty brands to showcase their latest products and engage with their target audience, creating a direct line of communication that influences consumer preferences. As a result, the rapid spread of beauty trends through social media has led to an increased demand for innovative beauty devices that promise to enhance one's skincare routine or achieve flawless makeup looks.

Customization & Personalization of Beauty Devices to Spur Market Growth

Beauty devices that offer customization based on individual skin types, concerns, and preferences are highly appealing. Providing personalized solutions for skincare, haircare, and grooming needs presents an opportunity for market differentiation. Consumers are increasingly seeking products that cater to their unique needs and preferences, and beauty devices offering customization are perfectly positioned to meet this rising demand. Whether it's a device that analyzes and adjusts skincare routines based on specific skin types or a haircare tool that adapts to different hair textures, the possibilities for personalized solutions are endless. This not only enhances the effectiveness of the products but also creates a more engaging and satisfying experience for consumers. As a result, brands that embrace this trend can set themselves apart from the competition and establish a loyal customer base.

North America to Dominate the Market with a CAGR of 9.76%.

In 2023, North America dominated the global beauty devices market capturing a significant portion of the revenue at USD 17.02 billion, accounting for 35.25% of the total market share.  

This considerable growth can be attributed to several factors such as the increasing demand for advanced beauty devices, the presence of well-established market players, and the rising awareness of personal grooming and beauty among consumers. Additionally, the availability of technologically advanced products and the growing trend of at-home beauty treatments have contributed to the growth of the beauty devices market in North America. With continuous innovation and product development, the region is expected to maintain its dominant position in the market in the forthcoming years.

Companies Focus On Product Launches and Collaborations to Fulfill Consumer Demands.

The global beauty devices market study is diverse, featuring several key players such as Koninklijke Philips N.V., Skinrex Co. Ltd., FOREO, NuFACE, Clarisonic, TRIA BEAUTY, Panasonic Corporation, Lumenis Be Ltd, Silkn.com, and Photomedax Inc. Companies are employing a variety of strategic measures, such as acquisitions, mergers, partnerships, product introductions, and collaborations, to expand their global presence and enhance their competitive position.

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