The rapidly growing beauty industry and technological advancements providing multiple facilities are amplifying skincare devices sales. As per a study of Future Market Insights (FMI), the rising incidence of skin disorders and growing concerns among consumers is stimulating the adoption of skincare devices.
Increasing concerns about the appearance and technological advancements in cosmetic procedures, such as face contouring, skin rejuvenation, and many more, are some of the factors improving the demand for skincare devices. On the back of these factors, the global skincare devices market is poised to expand at an impressive rate of 15% CAGR for the forecast period of 2021 and 2031.
The proliferation of beauty experts, influencers, and media bloggers through social media platforms is encouraging skincare devices sales. Also, the integration of artificial intelligence in beauty care products is growing the adoption of skincare devices among consumers.
“Increasing focus of companies on the design and development of effective skincare devices is improving the market growth. Also, rising demand from the millennials with increasing awareness about the beauty and routine skincare regimen is propelling the demand of skincare devices,” remarks the FMI analyst.
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Key Takeaways
- Cleaning devices accounted for the highest sales as compared to other devices through 2031
- At-home end-users to register notable growth over the forecast period
- Increasing internet penetration to amplify the sales for online retailers
- The U.S. accounted for over 80% share in North America due to the increased social media influence and high spending on smart technologies
- France, Germany, and UK to emerge as a lucrative markets for skincare devices
- The flourishing beauty industry and mounting social media influence on beauty trends to drive the sales in India
Prominent Drivers
- Increasing awareness for skincare and aesthetic procedures are propelling the demand of skincare devices
- The declining social stigma associated with male skincare will accelerate the demand of skincare devices in the upcoming decade
- The incorporation of advanced technology in skincare devices and products is improving the demand of skincare devices among consumers
- The rising incidence of skin disorders is increasing the need for developed skincare devices among consumers, providing growth opportunities for key players
Key Restraints
- Reimbursement uncertainties and stringent regulatory policies are expended to restrict the market growth
- The high cost of dermatologist treatment in emerging economies is likely to hamper the demand of skincare devices
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Competitive Landscape
Koninklijke Philips N.V., Pure Daily Care, Shenzhen Mareal Technology Co. Ltd., L’Oreal SA, Nu Skin Enterprises, Panasonic Corporation, Syneron Medical Ltd., Home Skinovations Ltd., TRIA Beauty Inc., Procter and Gamble, PhtotoMedex Inc., Carol Cole Company Inc., Lumenis, MTG Co. Ltd., FOREO, and DD Karma Ltd among others are some of the top players listed by Future Market Insights. FMI forecasts the market to be highly competitive. Premium brands are focusing on adopting strategies such as collaboration and tie-ups to maintain that competitive edge in the industry. Key players are relying on social media and digital marketing along with new product launches integrated with advanced technology to stay ahead in the competition.
For instance, in February 2021, Havells India Limited, a leading fast-moving electrical goods company, announced its entry into the electrical skincare segment with the launch of an essential skincare essential range with advanced technology incorporated in various products such as pore cleansers, facial cleansers, callus remover, and many more cost-effective DIY products.
Also, in January 2021, Nu Skin Enterprises Inc. announced the acquisition of 3i Solutions, an innovative company that develops and manufactures ingredients for consumer markets through encapsulation technologies. Furthermore, on 9th February 2021, the global leader in premium-quality beauty and wellness products was announced to be the first beauty brand to use sugarcane-based Eco-Pac sustainable packaging.
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Skin Care Devices Market by Category
Product Type
- Cleansing Devices
- Anti-Ageing devices
- Skin Texture Tone Enhancement
- Acne treatment Devices
End User
- At-home
- Salon & Spa
Price Range
- Economy
- Mid-Range
- Premium
Sales Channel
- Direct Sales
- Modern Trade
- Departmental Stores
- Specialty Stores
- Online Retailers
- Mono Brand Stores
- Other Sales Channel
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania