Skin Care Devices Market is Projected to Achieve A High CAGR Of 15% During Forecast Period -2031
The Skin Care Devices Market is expected to reach US$ 18.53 Bn by the end of 2021. Skin Care Devices Market to surpass US$ 18,533.2 million in 2021 and to grow CAGR of 15.0% in terms of value between 2021 and 2031. Consumer quest for “something more” and a chain of technological advancements providing exquisite functionalities have streamlined the current drive for devices in the beauty industry.
As per a new study by Future Market Insights, this trend is advancing on the back of highly efficient integration of technologically-enabled devices and diagnostics. The skin care devices market will therefore record impressive growth in the upcoming decade.Smart skin treatment devices are the next big thing in beauty industry. Retail shelves are being loaded with the influx of smart devices.
Industry giant L’Oreal developed a motorized skin treatment device offering a range of cleansing and massaging options in response to vocal instructions from the user, subsequently providing smart audio feedback and guidance via an integrated speaker when in use. The device offers a range of functions including sensitive cleansing, deep cleansing, pore cleansing, facial massaging, eye area massaging, make-up application and even skin rejuvenation or stimulation.
Digital tools are turning as the bandwagon of beauty and personal care industry. With the advent of personalization trend, at-home diagnostic devices and personalized beauty devices are gaining momentum. In the past product purchase pattern was streamlined by consumer reviews, brand marketing and distribution pattern; however, present date purchase decisions are getting more personal and consumer-centric, enabled by personalized beauty devices.
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Skin care devices appeal to a wider audience across regional boundaries, a fact capitalised by industry leaders Proctor & Gamble Company and Clarisonic. L’Oreal is set to enter the personalized beauty device industry with the advent of PERSO, a smart device that creates custom formulas for lipstick, foundation and skin care. Le Teint Particulier formula, a patented product of Lancome Paris, L’Oreal, is customized to your precise skin tone measurements using a proprietary algorithm that analyzes and then matches your exact skin tone.
Key Takeaways from the Skin Care Devices Market Study
- FMI has forecast skin care devices market to rise at 15% CAGR between 2021 and 2031
- Social media influence and increasing spending on smart technologies driving sales in the U.S., which also accounts for 83% of North America market
- The U.K. will emerge as a highly lucrative market exhibiting double-digit y-o-y growth at above 12% in 2021
- Germany and France too will continue exhibiting increasing demand for skin care devices
- Expansion of the beauty industry will support remarkable expansion in East Asia. China, South Korea, as well as Japan are likely to register double-digit growth
“Artificial Intelligence (AI) driven, customized, at-home beauty devices are the future of beauty industry, offering routine, high-tech customized skin care and makeup” says an FMI analyst.
Who is winning?
Key players in the skin care devices market are Koninklijke Philips N.V., Pure Daily Care, Shenzhen Mareal Technology Co., Ltd, L’Oreal S.A (ModiFace), Nu Skin Enterprises, Panasonic Corporation, Syneron Medical Ltd., home skinovations ltd., TRIA Beauty Inc, Proctor & Gamble Company, PhotoMedex Inc., Carole Cole Company Inc., Lumenis, MTG Co. Ltd., DD Karma LLC, and FOREO, among others.
Targeted and unique product offerings by market players are undertaken to gain competitive edge. They are using advanced technologies to offer smart skin care solutions to consumers.
- FOREO’s Espada runs blue light acne therapy firing led light energy into pores to attack acne-causing bacteria. Similar trend has been witnessed with respect to diagnostic devices.
- Sony developed a device that can analyze the condition of the skin while being able to detect blemishes even before appearing on skin.
- NuFace Trinity Facial Toning device employs microcurrent technology to give a lift to the cheeks, brows and jawline for up to 24 hours. The device assists in reducing the appearance of wrinkles, improve facial contours, and help brighten skin tone.
Besides this, there is immense focus on strategic tie ups. For instance:
- Unilever Group operates within the market via French cosmetic brand ioma, a brand whose expertise lies in analysing the condition of the skin and developing appropriate treatment devices to cater to the result.
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Skin Care Devices Market by Category
- Cleansing Devices
- Anti-Ageing devices
- Skin Texture Tone Enhancement
- Acne treatment Devices
- Salon & Spa
- Direct Sales
- Modern Trade
- Departmental Stores
- Specialty Stores
- Online Retailers
- Mono Brand Stores
- Other Sales Channel
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)