Personalized beauty devices are technologically advanced tools or gadgets that cater to individualized skincare needs. These devices leverage various technologies, such as artificial intelligence, sensors, data analysis, and connectivity, to offer customized solutions for skincare routines.
Sizing and Forecast
The personalized beauty devices market size has grown steadily in recent years. It will grow from $1.23 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to consumer awareness, home-use convenience, e-commerce growth, health and wellness focus, and anti-aging solutions.
The personalized beauty devices market size is expected to see steady growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to increased focus on sustainability, expansion of target demographics, regulatory support and standards, and focus on user experience. Major trends in the forecast period include ai-powered devices, augmented reality (AR) in beauty consultations, smart beauty tech integration, DNA and genetic analysis, telehealth integration, and focus on mental wellness.
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Segmentation & Regional Insights
The personalized beauty devices market covered in this report is segmented –
1) By Product: Skin Care, Make-up, Fragrances, Nails
2) By Service: At-Home, In-Store
3) By Sales Channel: Direct Sales, Modern Trade, Departmental Stores, Specialty Stores, Online Retailers, Mono Brand Stores, Other Sales channels
4) By Application: Consultation, Digital Questionnaire, Apps, Other Applications
North America was the largest region in the personalized beauty devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personalized beauty devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing skincare awareness is expected to propel the growth of the personalized beauty devices market going forward. Skin care refers to the practices and routines individuals adopt to maintain their skin’s health, appearance, and vitality. Skincare awareness is experiencing a significant surge due to several factors, such as the influence of social media, growing societal emphasis on self-care and wellness, celebrity endorsements of skincare products, and online beauty blogs and websites contributing to a heightened focus on personal health and wellness. As individuals become more attuned to the unique needs of their skin and the benefits of personalized skincare routines, they seek innovative solutions that cater specifically to their skin concerns. For instance, in December 2023, according to reports from Hollywood Mirror Company, a UK-based handcrafted vanity mirrors company, the projected total revenue of 2025 skincare sales is expected to reach $177 billion. The United Kingdom’s skincare is predicted to reach $24.37 billion by 2024, with an estimated $7.7 billion of beauty industries’ investment in advertising in 2022. Therefore, growing skincare awareness is expected to propel the growth of the personalized beauty devices market going forward.
Key Industry Players
Major companies operating in the personalized beauty devices market are Johnson & Johnson, Procter & Gamble Co., Unilever PLC, L’Oréal S.A., Koninklijke Philips N.V., Colgate-Palmolive Company, Estée Lauder Companies Inc., Kao Corporation, Beiersdorf AG, Amway Corporation, Shiseido Company, Limited, Coty Inc., Amorepacific Corporation, Mary Kay Inc., Nu Skin Enterprises, Inc., L’Occitane Groupe SA, The Body Shop International Limited, Revlon, Inc., Kendo Holdings, Inc., Foreo AB, Tria Beauty, Inc., COSMEDIX, DERMAFLASH, Preemadonna Inc., ZIIP Beauty
The personalized beauty devices market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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