Household Beauty Appliances Market is Predicted to Observe a Tremendous Growth, With a CAGR of 5.3% From 2019 To 2025: Grand View Research Inc.

 


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.

Covid 19's rapid development worldwide has led to serious implications for most suppliers of electronics and electrical products, in the form of supply chain disruptions. While the pandemic crisis has decreased the frequency of purchase of consumer appliances, the lead time for delivery of orders has also increased significantly. Limited availability of components, restricted labor supply, and other supply chain related costs are some of the major challenges that most industry players are focusing on at present. The end of the lockdown is expected to bring this industry significantly higher consumer traffic, most notably through the online channels, and the manufacturers will need to design their production plans and distribution networks in tandem with this changing business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

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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https://www.grandviewresearch.com/industry-analysis/household-beauty-appliances-market/request/rs1

Market leaders are introducing smarter and innovative products to provide a hassle-free experience to their customers. They are investing more in research to develop more efficient products. Thus, introduction of new products featuring advanced technologies is also expected to drive the market in the years to come. For instance, in January 2019, L’Oreal S.A., launched the first wearable microfluidic device.

Household Beauty Appliances Market Report Highlights

  • 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

The new product tracks the pH level of the skin and provides facial cleansing recommendation on smartphones. In February 2019, American Acne Foundation launched the advanced vacuum pore cleaner, to clear the unwanted waste and dead skin from the hidden pores of the skin. Such new launches from the key market participants have positively influenced product demand, thereby supporting the market growth.

In addition, increasing number of working women in developing countries, such as India, China, and Bangladesh, is promoting the usage of such products, thereby boosting household beauty appliances market expansion. According to the International Trade Administration, in 2018, the total annual spending on beauty care and beauty devices products in Australia was approximately USD 3.5 billion.

The hair care segment led the global market in 2018 and is projected to expand further at a CAGR of 5.4% from 2019 to 2025. The haircare products include hair dryers, rollers, straighteners, etc. Product and technological innovations are driving the segment growth. For instance, in March 2017, Conair Corp. launched infinity pro hair dryer, with heat protect motor technology. Moreover, emergence of multi-functional devices for hair treatment, such as appliances with hairbrush, roller, and straightener, is likely to attract more consumers.

Major companies in the market include Koninklijke Philips N.V.; Home Skinovation; Conair Corporation; TRIA Beauty, Inc.; Vega; Syska; Panasonic Corporation; Carol Cole Company; Croma; and L’Oreal SA. Companies are adopting various business strategies, such as new product development, mergers, acquisitions, and partnerships, to acquire a larger market share.

Grand View Research has segmented the global household beauty appliances market on the basis of product, distribution channel:

Household Beauty Appliances Product Outlook (Revenue, USD Million, 2015 - 2025)

·         Haircare

·         Facial Care

·         Body Care

·         Others

Household Beauty Appliances Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

·         Supermarket/Hypermarket

·         Convenience Stores

·         Online

 

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