Posted By mark itwired
Posted on August 10, 2021
In addition to feminine
beauty, focus on beauty products particularly suitable for men has become very
strong in the last few years, thus redefining the trends in the personalized beauty devices market.
According to a study by Future Market Insights (FMI) the market for personal
beauty devices will rise at 25.3% CAGR between 2021 and 2031.
To
Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13226
Men are becoming increasingly image conscious, which is why they
spend more time on grooming. This in itself is an indication that with the
growing concern for beauty among men, sales of personalized beauty devices are
expected to increase.
In view of the growing
importance of beauty among men, well-established beauty companies have now
turned their promotional campaigns to show personality beyond physical
strength. Also, the increasing exposure of social media has been
contributing to the healthy demand for men’s personalized solutions.
Moreover, the digital tools
are becoming a trend in the beauty industry enabling at-home personalized
beauty devices to gain more momentum. For instance, L’Oreal S.A. 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 offer precise
skin tone measurements using a proprietary algorithm that analyses and then
matches your exact skin tone. FMI in its latest study has forecasted the market
to rise at a CAGR of 25.3% between 2021 and 2031.
In terms of product type,
over half of sales in the market concentrates in the make-up segment. The
demand in skin care category also is expected to rise at an impressive pace in
the coming years.
Key Takeaways from the
Personalized Beauty Devices Market Study
- The global personalized beauty devices market was valued at ~US$
8.4 Mn in 2021. - In-store sales will continue to rise in the coming years,
accounting for over 64% of personalized beauty devices sold in 2021 - Beauty bloggers in the U.S. have been encouraging personalized
and hi-tech beauty, creating attractive prospects for growth. Driven by this,
the U.S. will account for over 92% of sales in North America in 2021 - Presence of a thriving beauty industry will enable the U.K.
market to exhibit more than 30% y-o-y growth in Europe - China will account for over half of personalized beauty devices
sold in East Asia, followed by Japan - Increasing willingness to spend on hi-tech beauty will drive
sales in India
“As consumers
increasingly seek out novel beauty solutions suited to their specific needs,
personalization will become a key strategy in the beauty industry. This will
pave the way for expansion of the market in the near future” says an FMI
analyst.
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Who is winning?
Key players in the skin care
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.
Targeted and unique product
offerings are being introduced into the market in order to attract the
attention of a specific community. In the coming years, focus on offering smart
beauty solutions will increase as market players aim for competitive edge.
Get Valuable Insights into
Personalized Beauty Devices Market
Future Market Insights, in
its new offering, provides an unbiased analysis of the global personalized
beauty 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
(Skin care, make-up, fragrances, and nails), service type (at-home, and
in-store), sales channel (direct sales, modern trade, departmental stores,
specialty stores, online retailers, mono-brand stores, and other sales channel)
across seven major regions.
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