The beauty device market accounted for USD 20.1 Billion in 2015 and is expected to reach notable market valuation by the end of 2021 by flourishing at a compound annual growth rate of 18.7% over the period 2016-2021.
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The beauty device market has been segmented by application into salon, spa, at home and others, out of which, salon segment dominated the overall beauty device market during 2015. The demand for beauty gadgets is augmented by the need of staying well groomed among all kinds of people irrespective of age.
The beauty device market accounted for USD 20.1 Billion in 2015 and is expected to reach notable market valuation by the end of 2021 by flourishing at a compound annual growth rate of 18.7% over the period 2016-2021. The urge to maintain one’s personality is driving the growth of the market. Further, growing population and busy work culture is resulting in people suffering from depression and other health problems such as elasticity in skin, hair fall etc. Factors such as these are anticipated to benefit the expansion of the beauty device market by the end of 2021.
In the regional segment, Asia Pacific accounted for the highest share in overall beauty device market in 2015, owing to increasing population and growing disposable income in emerging countries such as India & China. Additionally, rising urbanization and availability of affordable beauty devices are expected to propel the growth of the Asia Pacific beauty device market. Further, North America captured the second largest market share in the beauty device market owing to growing geriatric population combined with presence of large number of spa & salons in the region.
Growing Demand for Technology Advanced Beauty Device
The growth of the beauty device market is driven by worldwide growth of geriatric population and rising cases of skin disorders and hair fall problems. Further, the ease in availability of beauty devices combined with devices equipped with latest technology are some of the factors that are believed to supplement the growth of the beauty device market by the end of 2021.Request for FREE Sample copy
However, high cost of beauty device is likely to inhibit the growth of the beauty device market in the near future.
The report titled “Beauty Device Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the beauty device market in terms of market segmentation by device, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.GET IN TOUCH
This report also provides the existing competitive scenario of some of the key players of the beauty device market which includes company profiling of L’Oreal, Panasonic Corp., PhotoMedex, TRIA Beauty Inc., Procter & Gamble Company, Home Skinovations Ltd., Syneron Medical Ltd., Koninklijke Philips N.V., Carol Cole Company Inc. and Nu Skin Enterprises Inc.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the beauty device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.To Know More about This Report
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Source: MarketersMedia
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