The global household beauty appliances market size is expected to reach USD 8.86 billion by 2025 registering a CAGR of 5.3%, according to a new report by Grand View Research, Inc. Growing demand for advanced beauty appliances is anticipated to be the major driving factor for the market. Rising awareness about the benefits of using beauty appliances for the treatment of various skin and hair related problem is also expected to boost the product demand. The haircare segment accounts for the major market share on account of increasing cases of hair problems, such as frizzy and dry hair. Facial care is anticipated to be the fastest-growing segment due to growing awareness about facial care.
Moreover, companies such as, Philips, and L’Oreal, are coming up with innovative products, which is contributing to the segment development. For instance, in January 2019, L’Oreal SA launched the first wearable microfluidic device, which tracks the skin’s pH level and provides facial cleansing recommendation on smartphones. Thus, replacement of conventional medicines for skin treatment with technically advanced beauty care appliances contributes significantly in escalating the segment growth. The global market is marked by the presence of major companies including Koninklijke Philips N.V.; Home Skinovation; Conair Corp.; TRIA Beauty, Inc.; Vega; Syska; Panasonic Corp.; Carol Cole Company; Croma; and L’Oreal SA.
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Further key findings from the report suggest:
- Facial care segment is anticipated to register the fastest CAGR of 5.8% over the forecast period owing to rising awareness about the benefits of using facial care devices
- Haircare led the global market with an overall market share of 37.7% in 2018 due to extensive use of haircare appliances, such as, hair dryer, roller, and straightener
- Supermarkets/hypermarkets distribution channel segment the overall distribution channel of the globe with a market in 2018 on account of the availability of wide range of products in supermarkets/hypermarkets
- North America was the leading regional household beauty appliances market in 2018 and will expand further at a steady CAGR over the forecast period
- The industry is highly competitive and some of the key companies include Koninklijke Philips N.V.; Home Skinovation; Conair Corp.; TRIA Beauty, Inc.; lluminage Beauty, Inc.; Spectrum Brands Holdings, Inc.; Panasonic Corp.; Carol Cole Company; Syneron Medical; and L’Oreal SA