About the Report
The global personalized beauty devices market is expected to expand at a healthy CAGR of close to 25.3% over the next decade, and cross a valuation of US$ 80.7 Mn in 2031 as customers are increasingly seeking personalization in their daily activities shifting from “one size fits for all” products.
Further, consumers are more inclined towards the trend of using personalized beauty devices and other connected beauty devices. As a result, top manufacturers are aiming to provide artificial intelligence (AI) based personalized beauty devices in the market which is highly adopted among the end users. Growing development and technological advancement are the major drivers which has propelled the demand for such devices in the market.
Moreover, advances in human life structures and genomic science have empowered beauty solutions to be customized to a person's attributes or genotype, making them more compelling with rise in millennial population along with the geriatric population, ascend in prevalence of skin problems are some of the major reasons which is expected to drive the sales for personalized beauty devices in the coming foreseeable future.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for personalized beauty devices. The report tracks the global demand for personalized beauty devices in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the personalized beauty devices market.
How Historic Sales of Personalized Beauty Devices Compare with Future Outlook?
The idea of personalization in beauty industry is a long way from saturation. A convergence of information on the digital platforms has taught customers on their beauty needs. They know their skin, hair and body best; they additionally realize that everybody is different and need their individual necessities. As they understand that one-size doesn't fit all, personalization in beauty devices offers a credible solution.
Moreover, the current hectic lifestyle with the ongoing pandemic situation has encouraged consumers to adopt convenient solutions that would help them to maintain their beauty in no time. Thus, ascend in the demand for instant beauty solutions at their home with customization as per individual need would accelerate the production of personalized beauty devices in the coming forecast period.
According to FMI’s analysis, personalized beauty devices sales would grow at a 25.3% CAGR between 2021 and 2031.
Increasing Prevalence of Skin Problems Driving Personalized Beauty Devices Sales
The prevalence of skin diseases, such as photo-aging, is increasing globally, due to excessive exposure to pollution and ultraviolet (UV) radiation, which is resulting in sunburn, black patches on faces, reduced skin firmness, and hair loss. According to the report published by American Academy of Dermatology (AAD), about 85% of Americans suffer from the acne and its scars at some stage in their lives.
It also stated that melasma is a skin problem that causes gray and brown patches on the face. To treat all such skin problems, personalized beauty devices are increasingly being adopted. For example, small, brown spots called freckles on people’s face can be treated with personalized beauty devices. Therefore, growing cases of skin problems drive the growth of the personalized beauty devices market.
Moreover, the increasing aging population plays a key role in the growing demand for personalized beauty devices. Anti-ageing devices are used to overcome the skin problems in elderly population. These devices gives them a younger look by tightening and rejuvenating the skin, this would lead to an increase adoption of personalized beauty devices which in turn will boost growth of the market.
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Introduction of New Personalized Beauty Devices Driving Sales
One of the common trends being observed in the personalized beauty device market is the people's willingness to look young, healthy and attractive. As a result manufacturers are making AI-based personalized beauty devices along with customized products, based on unique beauty requirements. Beauty devices are becoming “smarter” with the incorporation of new digital and advances technologies that are becoming better for the body as well as environment.
Recently, L’Oreal SA introduced a new product called Perso. It is a unique device which can formulate a moisturizer based on the skin type and the environment surrounding us. Further, it can make custom lip colors to match an outfit. These products are creating a lot of traction among consumer, creating positive impact on the demand for such products.
What are the Opportunities for Personalized Beauty Devices Market Players?
The rapid integration of digital and the proliferation of online platforms are making people aware about latest and trending products available in the market. Owing to this factor, shoppers associated with personalized beauty devices market are aware of all the requirements of the customers and global skin trends.
Moreover, the growing influence of social media, beauty bloggers are accelerating the change in consumer preferences towards personalized beauty devices. Beauty experts are actively publishing blogs to guide consumers related to new beauty trends, skin maintenance and routine hacks, new product launches, and other information. These efforts on the part of beauty bloggers and experts have raised the level of product awareness thus positively impacting the sales of personalized beauty devices.
As wide range of customers prefer buying products online to save their time, most of the market player’s display and sell their products through online platform to increase their customer base. Rise in internet penetration, tech-savvy consumers, and growth in ecommerce market are the factors that drive the growth of the market.
How is Lack of Product Awareness Impacting Sales?
Unawareness among rural and semi urban consumers about personalized beauty devices, its benefits, and lack of education regarding the products discourage the consumers to purchase these devices. As a result, it hampers the sale of the product. Also, a majority of consumers in developing as well as in developed countries perceive personalized beauty devices as non-essential product and are apprehensive to incorporate the same in their daily lifestyle.
Also, the growth of the global personalized beauty devices is currently being restrained by its high cost. Personalized beauty devices are expensive as compared to any other beauty devices which is a major factor restraining the demand for the product.
Impact of COVID-19 on Personalized Beauty Devices Market
The beauty industry encountered a transitory downswing, particularly in certain beauty sectors. The pandemic had both positive as well as negative effect on the personalized beauty devices demand.
For instance, on one side the players in the market experienced a temporary downswing and on the other side the demand for personalized beauty devices has increased as consumers resorted to self-care. A demand and supply gap also existed temporarily in certain beauty sectors. Apart from this, consumers drastically resorted to making purchase online which forced the manufacturers and players to stimulate their online penetration to capitalize on sales opportunities. Thus, such drastic operational changes due to outbreak of novel coronavirus resulted in certain temporary challenges on the part of players.
For example, on one side the major players in the market encountered a transitory downswing and on the opposite side the demand for personalized beauty devices has increased as buyers turned to self-care in the time of pandemic.
Further, customers radically turned to making buy online which constrained the manufacturers and players to invigorate their online infiltration to capitalize on sales opportunities. Thus, such radical operational changes to outbreak of novel coronavirus resulted in certain temporary challenges on the part of players.
What are the Opportunities in Germany for Personalized Beauty Devices Market?
The demand in Germany is expected to rise at an impressive 25.8% CAGR, finds FMI. Growth registered in this country is mainly attributed to high appearance consciousness and rising consumer income which lead to higher spending on skin care and devices here. The increasing awareness about the device’s uses in the treatment of various skin and hair diseases is contributing to the growth of the market in this country. Moreover, skin related issues such as acne and freckles are widespread here, which is further encouraging people to use these personalized beauty devices.
Will India Emerge as a Key Personalized Beauty Devices Market?
India will account for over 35% sales in South Asia. In India, the personalized beauty device market is booming over the past few years and is expected to register double-digit growth in the near future. Key factors responsible for driving the growth are the increasing urbanization and escalating geriatric population.
According to the United Nations Department of Economic and Social Affairs (UNDESA), by 2050, the population of individuals aged 60 years or above would reach over 300 million in India. This rising aging population in India would lead to an increasing adoption of various personalized devices, which would further boost the growth of the personalized beauty devices market.
Moreover, millennial is one of the critical demographic that has largely influenced industry trends especially in India. Millennial have become more conscious about their overall look, skin, and hair. As a result, they do not hesitate to spend on beauty products and is likely to have a positive impact in the sales of personalized beauty devices in the Indian market.
Will Premiumization Remain Key Trend in the U.K.?
With growing significance of beauty, the demand for personalized beauty products in the U.K. is expected to rise at a remarkable CAGR of 34.9% over the forecast period. Many players or manufacturers in the market have positioned their offerings as premium category of personalized products that guarantee ultimate precision and high end results.
Besides this, the players in the market are also focusing on developing ergonomic designs of beauty tool that are more appealing to beauty enthusiasts. Through constant innovation and developments the players have introduced a range limited edition skin care devices that best match consumers premium needs in the country.
What are the Opportunities for Personalized Beauty Devices in Australia?
Australia will account for over 65% sales registered in Oceania. Among countries in the Oceania. The New Zealand personalized beauty device market is expected to expand at a CAGR of 20.1% over the forecast period.
Australia is emerging as a competitive market with a massive number of local players and international brands such as L’Oreal SA. Growth opportunities available in the market are attracting several new players who are focusing on increasing their penetration across the globe. Moreover companies are investing vast sum of money in research and development activities to offer new products to it consumers.
Skin Care Devices to Register Notable Growth
In terms of product type, the skin care segment is anticipated to dominate in the forecast period, exhibiting a CAGR of 28.4%. Growing trend of fresh, glowing and healthy skin is major factor fuelling the market growth. Manufacturers are using artificial intelligence to create personalized skincare. AI-integrated personalized beauty devices will provide regarding customers’ skin type, enabling them to personalize products according to the skin type.
Why is In-store Service Type Preferred More?
In-store service type segment is estimated to account for around over 64% of the market in 2021. Busy lifestyle and growing modernization are some of the primary reasons behind the expansion of this segment. Additionally, growing income and improving standard of living are compel consumers to opt for such services to reduce stress and rejuvenate their skins.
What is the Scope for Expansion for Online Retailers?
In terms of sales channel, online retail sales channel are still popular with modern trade, department stores and specialty stores together accounting for a significant share in the personalized beauty device market. However, on account of the increasing penetration of internet the sales via online retailers are expected to rise at an impressive pace.
Competition within the market is rising hence leading brands are gearing to introduce latest technologies to gain traction. For instance:
- L'Oréal S.A. unveiled first of its kind, AI-integrated at-home personal care device called Perso at the Consumer Technology Association (CES) 2020 trade show organized in Los Angeles.
- L’Occitane en Provence unveiled a personalized beauty device called Duolab, a machine that it developed in partnership with Rowenta.
Some of the leading companies operating in the market are:
Scope of the Report
Historical Data Available for
USD Million for value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, South Africa, Brazil, Mexico, Turkey
Key Segments Covered
Product Type, Service Type, Application Type (% of demand), Sales Channel, and Region.
Key Companies Profiled
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
Key Questions Answered in the Report
What is the Personalized Beauty Devices market size?
The global personalized beauty devices market is expected to register a CAGR of 25.3% during the forecast period 2021-2031. As per FMI, the global personalized beauty devices market valuation is around US$ 6.9 Mn in 2020.
Which is the most lucrative market for Personalized Beauty Devices?
Among regions, North America holds the largest share in the global personalized beauty devices owing to rising consumers income which leads to higher spending on skin care and beauty devices.
Which are some of the leading companies in the Personalized Beauty Devices?
Some of the leading companies in personalized beauty devices market are L'Oréal S.A., Unilever PLC, Kendo Holdings, Inc., L'Occitane Groupe SA, Preemadonna Inc., Shiseido Company Limited, and Amorepacific Corporation among others.
Enquiry before Buying
- Is this research conducted by Future Market Insights?
Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst
- What research methodology is followed by FMI?
FMI follows a methodology that encompasses demand-side assessment of the market and triangulates the same through supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions. Request detailed methodology
- Who are the respondents for primary research?
FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.
- What are the sources of secondary research?
FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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Personalized Beauty Devices Market by Category
- Skin Care
Application Type (% of Demand)
- Digital Questionnaire
- Other Applications
- 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)