As customers increasingly seek personalization in their daily activities, shifting away from one-size-fits-all products, the global personalized beauty devices market is expected to expand at a healthy CAGR of close to 25.6% over the next decade, and cross a valuation of US$ 125.3 million in 2033.
The rising elderly population is a significant factor driving the increased demand for personalized beauty devices. Anti-aging devices are specifically designed to address skin concerns commonly experienced by older individuals.
These devices work to tighten and rejuvenate the skin, offering a more youthful appearance. This trend is expected to lead to a higher adoption rate of personalized beauty devices, consequently fueling the growth of the market.
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A significant opportunity in the personalized beauty devices market is the rise of personalized beauty supplements. Many consumers are becoming more aware of the connection between their diet and their skin health. This awareness has led to an increased demand for personalized beauty supplements. Personalized beauty supplements are made up of specific ingredients that are tailored to the individual’s needs based on their diet, lifestyle, and skin type. This type of personalization allows consumers to achieve better skin health and meet their specific beauty goals.
A prominent opportunity in the personalized beauty devices market is the development of smart mirrors. Smart mirrors are a combination of traditional mirrors and advanced technology that offer personalized beauty recommendations to consumers. These mirrors use facial recognition and analysis software to identify the consumer’s skin type, complexion, and other factors that are essential for personalized beauty recommendations. These mirrors can suggest personalized skincare routines and even recommend specific products based on the consumer’s individual needs.
There is a growing trend towards sustainable and eco-friendly beauty devices. Consumers are becoming increasingly conscious of their environmental impact and are looking for ways to reduce waste. Personalized beauty devices that are made from sustainable materials or have refillable or recyclable components are gaining popularity among environmentally conscious consumers.
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Key Takeaways from the Phospholipid Market:
- The demand in Germany is expected to accumulate a 1.6% revenue share
- India will account for over 28.4% sales in South Asia.
- The demand for personalized beauty products in the United Kingdom is expected account for 21.1% revenue
- The skin care segment is anticipated to dominate, accumulating a revenue share of 29.6%
“The personalized beauty devices market is poised for significant growth due to increasing demand for personalized beauty products and technological advancements in the beauty industry”, remarks an analyst at FMI.
How Key Players are revolutionizing the Manufacturing of Personalized Beauty Devices market?
The personalized beauty devices industry has a very competitive environment due to numerous companies that operate globally.
Key Players in the Market:
- L’Oréal S.A.
- Unilever PLC
- Kendo Holdings, Inc.
- L’Occitane Groupe SA
- Preemadonna Inc.
- Shiseido Company, Limited
- Amorepacific Corporation
Recent Developments in the Personalized Beauty Devices Industry:
- In April 2023, Luxury beauty giant L’Oréal acquired the Australian brand Aēsop in a deal signed with Natura &Co. The beauty world just got a little more luxurious.
Leading players in the personalized beauty devices market are revolutionizing the manufacturing process to keep up with the increasing demand for personalized beauty devices. These players are focusing on developing innovative and advanced technologies that offer personalized solutions to consumers.
Market Segmentation
By Product:
- Skin Care
- Make-up
- Fragrances
- Nails
By Service:
- At-Home
- In-Store
By Application:
- Consultation
- Digital Questionnaire
- Apps
- Others
By Sales Channel:
- Direct Sales
- Modern Trade
- Departmental Stores
- Specialty Stores
- Online Retailers
- Mono Brand Stores
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About the Consumer Product at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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