Personalized Beauty Devices Market Analysis With Opportunity Segments
Personalized Beauty Devices Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Personalized Beauty Devices Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 9, 2024 /EINPresswire.com/ -- The market for personalized beauty devices, advanced tools catering to individualized skincare needs, is experiencing steady growth driven by technological innovations and increasing skincare awareness. These devices utilize technologies like AI, sensors, and connectivity to offer customized solutions for skincare routines.
Market Size and Growth
The personalized beauty devices market1 is set to grow from $1.23 billion in 2023 to $1.28 billion in 2024, at a CAGR of 3.9%. This growth is attributed to factors such as rising consumer awareness, convenience of home-use devices, expanding e-commerce platforms, focus on health and wellness, and demand for anti-aging solutions.
Looking forward, the market is expected to continue its growth trajectory, reaching $1.46 billion by 2028 with a CAGR of 3.3%. Factors driving this growth include increased sustainability focus, expansion of target demographics, regulatory support, and enhancements in user experience.
Growing Skincare Awareness Drives Market Expansion
The surge in skincare awareness is a significant driver for the personalized beauty devices market. Influenced by social media, emphasis on self-care, celebrity endorsements, and online beauty resources, individuals are increasingly adopting personalized skincare routines. This trend is expected to propel market growth as consumers seek innovative solutions tailored to their specific skin needs.
For instance, projections indicate that skincare sales revenue could reach $177 billion globally by 2025, with the UK skincare market alone expected to reach $24.37 billion by 2024. Such insights underscore the growing importance of skincare and its impact on the market for personalized beauty devices.
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Key Players and Market Trends
Major companies driving innovation in the personalized beauty devices market include Johnson & Johnson, L'Oréal S.A., and Procter & Gamble Co. These companies focus on developing AI-powered devices, integrating augmented reality (AR) for beauty consultations, and enhancing smart beauty technologies to meet evolving consumer demands.
For example, L'Oréal S.A. introduced HAPTA, a personalized beauty device featuring advanced sensors and motion-stabilizing technology for precise makeup application. Designed to accommodate users with mobility challenges, HAPTA exemplifies advancements aimed at inclusivity and accessibility in beauty technology.
Trends in the Market
Key trends shaping the market include the integration of AI-powered devices, AR for virtual beauty consultations, DNA and genetic analysis for personalized skincare recommendations, telehealth integration for remote skincare guidance, and a growing focus on mental wellness through skincare routines.
Segments
• Product: Skin Care, Make-up, Fragrances, Nails
• Service: At-Home, In-Store
• Sales Channel: Direct Sales, Modern Trade, Departmental Stores, Specialty Stores, Online Retailers, Mono Brand Stores, Other Sales Channels
• Application: Consultation, Digital Questionnaire, Apps, Other Applications
Geographical Insights: North America Leads, Asia-Pacific to Witness Fastest Growth
North America dominated the personalized beauty devices market in 2023, driven by technological advancements and high consumer adoption. Asia-Pacific is projected to be the fastest-growing region, fueled by increasing disposable incomes, rising beauty consciousness, and expanding urban populations.
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Personalized Beauty Devices Global Market2 Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Personalized Beauty Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on personalized beauty devices market size, personalized beauty devices market drivers and trends3, personalized beauty devices market major players, competitors' revenues, market positioning, and market growth across geographies. The personalized beauty devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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