Personalized Beauty Device Market Size, Share, Growth, and Industry Analysis, By Type (Skin Care, Make-up, Others), By Application (Departmental Stores, Specialty Stores, Online Retailers, Others) and Regional Forecast to 2032

PERSONALIZED BEAUTY DEVICE MARKET REPORT OVERVIEW

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The global personalized beauty device market size was USD 1179 million in 2023 and the market is projected to touch USD 1498.51 million by 2032, exhibiting a CAGR of 2.7% during the forecast period.

A personalized beauty device is a technology-based device that offers personalized beauty solutions and treatments based on a person's specific needs and preferences. These devices use advanced technologies such as artificial intelligence, virtual reality and augmented reality to provide personalized beauty recommendations and perform various beauty treatments.

Moreover, advancements in design and manufacturing technologies are driving innovations in the cloth wardrobe market. Manufacturers are investing in research and development to introduce modern and aesthetically pleasing wardrobe designs, catering to diverse consumer preferences. Technological advancements, such as improved material options and assembly methods, enable more functional and durable wardrobe creations. Furthermore, eco-friendly and sustainable practices, such as using recyclable materials and reducing carbon footprints in production processes, are gaining prominence among environmentally conscious consumers. The combination of evolving consumer preferences and technological advancements is fueling the expansion of the global market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has significantly affected the beauty products market. Due to COVID-19, the supply chain of raw materials necessary for the production of cosmetic devices has been disrupted in many countries. The pandemic is also affecting the growth of the beauty products market as manufacturers have stopped producing them. However, as salons reopen and industrial imports and exports improve in the post-COVID environment, demand for beauty equipment will gradually increase.

LATEST TRENDS

"Technological Development Of Beauty Equipment Leading Market Expansion"

It is estimated that new product developments and new product launches by market players continue to provide potential opportunities for the personalized beauty device market growth. In addition, increased housing initiatives and the movement towards a more affordable lifestyle are contributing to the development of a top showcase for beauty equipment. People today are more educated about the importance of close cleanliness and cleanliness and are willing to invest in products that promote tight skin. Acupressure mats, electronic facial cleansers and derma rollers are common among health-conscious people looking for a more conventional approach to great success.

PERSONALIZED BEAUTY DEVICE MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Skin Care, Make-up, Others.

The skin care segment includes devices designed to meet individual skin needs, such as cleansing or rejuvenating devices.

Makeup equipment focuses on personalized application techniques and offers assistance in achieving the desired look.

The "other" category refers to devices that address specific personal care needs, such as exfoliation or nail care. Each of these market segments strives to provide customized beauty solutions using advanced technology and personalized experiences for users. 

• By Application

Based on application the global market can be categorized into Departmental Stores, Specialty Stores, Online Retailers, Others.

Department stores such as Macy's or Nordstrom offer these devices as part of their beauty and skin care lines. These devices are also sold by stores specializing in beauty and personal hygiene, such as Sephora or Ulta.

Online Retailers such as Amazon or Alibaba provide a convenient platform for customers to purchase customized beauty equipment.

Additionally, there are other distribution channels such as independent beauty shops or direct sales where consumers can find and buy these products.

DRIVING FACTORS

"Increasing Demand For Personalized Beauty Treatments Will Foster The Market Growth"

Personalization practices have opened up new market opportunities for beauty equipment manufacturers. Personalization trends are influencing beauty consumers, enabling skin-specific treatments in skin clinics, beauty salons and beauty clinics. These beauty treatment centers use high-tech applications such as WaySkin integrated with artificial intelligence (AI) to identify skin types and problems, track treatment progress and analyze skin health and appearance before and after treatment. Additionally, the user can use these programs to monitor pH, texture, moisture, pigmentation and oiliness. These programs recommend products and treatments that customers need to keep their skin healthy. For example, L’Oreal S.A. was launched Personalize beauty smart device Perso in January 2020. Thanks to a four-step process, the innovative skin care system offers individual skin care solutions. There are differences in the composition of the skin, hair, mouth and face, so the treatment of the problems is also different.

"Growing Awareness About Personal Hygiene Propel Market Growth   "

Growing awareness about personal hygiene is fueling the growth of the global beauty equipment market. The increase in the urban population and the increase in the distribution of personal hygiene products in developing countries should also contribute to the growth of the market. Also, rapid adoption of such products among consumers due to the effectiveness and benefits of these products is expected to further boost the personalized beauty device market growth.

RESTRAINING FACTORS

"Side Effects Related To Beauty Devices Potentially Impede Market Growth"

Adverse effects associated with cosmetic devices, such as excessive swelling, superficial burns and blisters, are expected to limit the use of such devices. These factors are expected to hinder the growth of the global beauty equipment market during the forecast period. Lack of awareness about the benefits of beauty devices in developing countries or rural areas will hinder the growth of the market during the forecast period.

PERSONALIZED BEAUTY DEVICE MARKET REGIONAL INSIGHTS

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"North America Dominating the Market due to Presence of a Large Consumer Base"

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America and Middle East and Africa.

North America held the largest personalized beauty device market share of the beauty equipment market. This is mainly due to the high disposable income of the region, which increases the consumption of personal care products. Also, as people start paying attention to their appearance, they are adopting more technologically advanced beauty devices. In addition, this region and its advanced beauty technology is a major demand factor.  North America has traditionally been an important market for beauty devices, driven by high consumer incomes and a strong emphasis on personal care. The United States and Canada are the leading players in the market with a wide range of beauty devices available, including hair devices, facial cleansing devices and anti-aging devices. The North American beauty equipment market is expected to grow significantly due to the growing popularity of hair care products. Moreover, increasing incidence of skin diseases will further fuel the growth of the beauty devices market in the region in the coming years.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The cloth wardrobe market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

LIST OF TOP PERSONALIZED BEAUTY DEVICE COMPANIES

• L'Oréal
• Unilever
• Kendo Holdings
• L'Occitane Groupe
• Preemadonna
• Shiseido Company
• Amorepacific Corporation (China)

INDUSTRIAL DEVELOPMENT

February 2021: L'Oreal has completed the acquisition of Takami Co., a Japanese company that develops and distributes skin care products. The acquisition will focus on the development of product offerings  of both organizations and the sharing of human resources.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.