The market is mainly driven by increasing inclination of consumers toward easy-to-use home-use beauty devices, rising prevalence of skin diseases, growing appearance consciousness in people and awareness about these devices, expanding product portfolio of market players, and surge in disposable income.
Insights on market segments
Based on type, the home-use beauty devices market for anti-aging is expected to reach $3.9 billion by 2023. registering a CAGR of 21.7% during the forecast period. As stated by the United Nations (U.N.), in 2017, there are around 962 million people aged 60 or above, comprising 13% of the global population. The population aged 60 or above is growing at a rate of about 3% every year. Thus, various beauty-related problems associated with aging, such as wrinkles, loosening of the skin, increase in facial hair, and drooping eyebrows and eyelids, are contributing to the market growth of this category.
The European market is projected to outpace the North American market during the forecast period
During the forecast period, the European home-use beauty devices market is expected to outpace the North American home-use beauty devices market, on account of rising geriatric population, increasing prevalence of hair- and skin-related diseases, and introduction of specialized hair regrowth devices in addition to apps that educate consumers on the usage of such devices.
The prevalence of androgenetic alopecia (hair loss) is reportedly higher in the European population as compared to the Asians, Native Americans, and African-Americans. The introduction of specialized hair regrowth devices in Europe has witnessed increased adoption by people, as problems such as hair loss are more common among Europeans as compared to the people in other regions. Besides, France is considered the fashion-hub of the world and is home to some of the renowned fashion brands. L’Oreal SA is one such brand based in France that commercializes cosmetics and home-use beauty devices.
Market players are focusing on strategic acquisitions to expand their business
In order to increase their market share, key players in the home-use beauty devices industry are acquiring other companies operating in the domain. For instance, in May 2018, L'Oréal SA (L'Oréal) announced 100% acquisition of Nanda Co. Ltd., a Korean lifestyle make-up and fashion company. With this acquisition, L'Oréal plans to expand the sales of the 3CE cosmetics brand, internationally. The company expects to complete the transaction in two months, after receiving customary regulatory approvals.
Furthermore, in March 2018, the company completed its previously announced acquisition of ModiFace Inc., a provider of augmented reality and artificial intelligence in the beauty industry. The acquisition is in line with L'Oréal's digital acceleration strategy to integrate these technologies in its 34 international brands in order to enhance customer experience with the brand.
Some of the other key players operating in the home-use beauty devices market are Nu Skin Enterprises Inc., TRIA Beauty Inc., Home Skinovations Ltd., The Procter & Gamble Company, iluminage Beauty Inc., Koninklijke Philips N.V., Spectrum Brands Holdings Inc., YA-MAN LTD., MTG Co. Ltd., and Carol Cole Company.
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation By Type
1.3.2 Market Segmentation By Geography
1.3.3 Analysis Period
1.3.4 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
18.104.22.168 By Region
22.214.171.124 By Industry Participant
126.96.36.199 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1.1 By Type
188.8.131.52 Hair Removal Devices
184.108.40.206 Anti-Aging Devices
220.127.116.11 Cleansing Devices
18.104.22.168 Hair Growth Devices
22.214.171.124 Cellulite Reduction And Body-Toning Devices
126.96.36.199 Acne Elimination Devices
4.2 Market Dynamics
188.8.131.52 Introduction Of Compact Devices
184.108.40.206 Rising Penetration Of Market Players In Home-Use Devices For Men Category
220.127.116.11 Increasing Inclination Of Consumers Toward Easy-To-Use Home-Use Beauty Devices
18.104.22.168 Increasing Prevalence Of Skin Diseases
22.214.171.124 Growing Appearance Consciousness In People And Awareness About Home-Use Beauty Devices
126.96.36.199 Expanding Product Portfolio Of Market Players For Home-Use Beauty Devices
188.8.131.52 Surge In Disposable Income
184.108.40.206 Impact Analysis Of Drivers On Market Forecast
220.127.116.11 Risks Associated With Home-Use Beauty Devices
18.104.22.168 Easy Availability Of Cheaper Traditional Beauty Products
22.214.171.124 High Cost Of Home-Use Beauty Devices
126.96.36.199 Impact Analysis Of Restraints On Market Forecast
188.8.131.52 Emergence Of Multi-Functional Devices
4.3 Porter’S Five Forces Analysis
4.3.1 Bargaining Power Of Buyers
4.3.2 Bargaining Power Of Suppliers
4.3.3 Intensity Of Rivalry
4.3.4 Threat Of New Entrants
4.3.5 Threat Of Substitutes
Chapter 5. Global Market Size And Forecast
5.1 By Type
5.2 By Region
Chapter 6. North America Market Size And Forecast
6.1 By Type
6.2 By Country
6.2.1 U.S. Home-Use Beauty Devices Market
184.108.40.206 By Type
6.2.2 Canada Home-Use Beauty Devices Market
220.127.116.11 By Type
Chapter 7. Europe Market Size And Forecast
7.1 By Type
7.2 By Country
7.2.1 Germany Home-Use Beauty Devices Market
18.104.22.168 By Type
7.2.2 France Home-Use Beauty Devices Market
22.214.171.124 By Type
7.2.3 Italy Home-Use Beauty Devices Market
126.96.36.199 By Type
7.2.4 Spain Home-Use Beauty Devices Market
188.8.131.52 By Type
7.2.5 U.K. Home-Use Beauty Devices Market
184.108.40.206 By Type
Chapter 8. Asia Market Size And Forecast
8.1 By Type
8.2 By Country
8.2.1 China Home-Use Beauty Devices Market
220.127.116.11 By Type
8.2.2 Japan Home-Use Beauty Devices Market
18.104.22.168 By Type
8.2.3 India Home-Use Beauty Devices Market
22.214.171.124 By Type
Chapter 9. Latam Market Size And Forecast
9.1 By Type
9.2 By Country
9.2.1 Brazil Home-Use Beauty Devices Market
126.96.36.199 By Type
Chapter 10. Row Market Size And Forecast
10.1 By Type
Chapter 11. Competitive Landscape
11.1.1 Product Benchmarking Of Key Players
11.2 Global Strategic Developments Of Key Players
11.2.1 Mergers And Acquisitions
11.2.2 Product Launches
11.2.3 Other Development
Chapter 12. Company Profiles
12.1 Nu Skin Enterprises Inc.
12.1.1 Business Overview
12.1.2 Product And Service Offerings
12.1.3 Key Financial Summary
12.1.4 Strategic Growth Plans
12.2 Tria Beauty Inc.
12.2.1 Business Overview
12.2.2 Product And Service Offerings
12.3 Home Skinovations Ltd.
12.3.1 Business Overview
12.3.2 Product And Service Offerings
12.4 The Procter & Gamble Company
12.4.1 Business Overview
12.4.2 Product And Service Offerings
12.4.3 Key Financial Summary
12.4.4 Strategic Growth Plans
12.5 Iluminage Beauty Inc.
12.5.1 Business Overview
12.5.2 Product And Service Offerings
12.6 Koninklijke Philips N.V.
12.6.1 Business Overview
12.6.2 Product And Service Offerings
12.6.3 Key Financial Summary
12.6.4 Strategic Growth Plans
12.7 Spectrum Brands Holdings Inc.
12.7.1 Business Overview
12.7.2 Product And Service Offerings
12.7.3 Key Financial Summary
12.7.4 Strategic Growth Plans
12.8 Ya-Man Ltd.
12.8.1 Business Overview
12.8.2 Product And Service Offerings
12.9 Mtg Co. Ltd.
12.9.1 Business Overview
12.9.2 Product And Service Offerings
12.9.3 Strategic Growth Plans
12.1 Carol Cole Company
12.10.1 Business Overview
12.10.2 Product And Service Offerings
12.11 L’Oréal Sa
12.11.1 Business Overview
12.11.2 Product And Service Offerings
12.11.3 Key Financial Summary
12.11.4 Strategic Growth Plans
Chapter 13. Appendix
13.2 Sources And References
13.3 Related Reports
- Nu Skin Enterprises Inc.
- TRIA Beauty Inc.
- Home Skinovations Ltd.
- The Procter & Gamble Company
- iluminage Beauty Inc.
- Koninklijke Philips N.V.
- Spectrum Brands Holdings Inc.
- YA-MAN LTD.
- MTG Co. Ltd.
- Carol Cole Company
- L’Oréal SA