Beauty Industry is Getting Smarter, Enabling Skin Care Devices Market Growth at 15% CAGR: FMI
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. As per FMI, the market is expected to reach US$ 18.53 Bn by the end of 2021.
Skin Care Devices Market
A recent market study published by FMI, “Skin Care Devices Market: Global Industry A...
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.
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.
Get Valuable Insights into Skin Care Devices Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global skin care devices market, presenting historical demand data (2016-2031) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the skin care devices market based on the product type (cleansing devices, anti-aging devices, skin texture & tone enhancement devices, acne treatment devices), end user (at-home, salon & spa), price range (economy, mid-range, and premium), sales channel (direct sales, modern trade, departmental stores, mono brand stores, specialty stores, and online retailing), across seven major regions.
According to Future Market Insights’ recent market report titled “Skin Care Devices Market: Global Industry Analysis 2016-2020 and Opportunity Assessment 2021-2031”, is expected to show favourable growth and opportunity trends. With growing importance to beauty and higher consumer inclination towards make up and other beauty trends, skin care devices are of paramount importance. Technological intervention and new product developments are running parallel, consequently driving the demand for skin care devices. A factor that holds prime importance in the increasing demand for devices is personalization. A majority of the millennial are beauty conscious and socially active too, propagating the latest innovations. While a section of the younger generation prefers to be unique, a larger category focuses on looks/appearance, and a considerable others give importance to new experiences and products. Custom skin care is gaining popularity across the global demographical expanse, thus driving the skin care devices industry. Leading players operating within the skin care devices market are establishing an extensive research and development laboratory to cater to the varied requirement of the consumers.
About Consumer Products division of FMI
Expert analysis, in-depth insights, and strategic recommendations - the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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