North America, the beauty devices market, is anticipated to reach US$37,948.50 Mn in 2027 from US$ 13,697.43 Mn in 2019. The market is projected to grow with a CAGR of 13.9% from 2020-2027.
Thebeauty devices market is growing primarily due to changing consumer psyche towards beauty and wellness, and increasing prevalence of age-related skin issues in the North Americaregion that are boosting the market over the years. Restraining factors, such as undesirable side effects of beauty devices likely to damage the growth of the market in the coming years. On the other hand, increasing disposable incomeand technological innovations in the beautydevice marketis expected to have a positive impact on the growth of the North Americabeauty devicesmarket in the coming years.
Beauty devices are made and sold for the purpose of enhancing the physical attractiveness of users. These devices come in handy and are very useful for the cosmetic usage area including skin related issues, such as acne, wrinkles and scars usage areas among others. The market for beauty device is expected to witness huge growth due to changing consumer psyche towards beauty and wellness and increasing prevalence of age-related skin issues.
Increasing work hours and changing lifestyle have contributed to rising levels of stress, resulting in several issues on outward appearance, especially on the skin and hair. Also, the increasing level of pollution shows detrimental effects on an individual’s physical appearance. These issues can be controlled with the use of RF roller and blue light devices for acne. Customers have continued to show keen interest in experiencing beauty and wellness services to rejuvenate their body. Thus, international grooming products and services at home have gained popularity to a great extent.
Obsession with appearance has significantly increased the demand for beauty and skincare products across the world. Premium beauty brands are now offering additional services, such as skin diagnosis, at their outlets to attract customers. Even big beauty corporates have been keen to showcase their tech savvy in the consumer beauty devices category. Although, in recent years, L’Oreal has developed wearable sensors to track sun damage and skin pH levels. In addition, the beauty industry is fast moving, and cosmetic products are largely purchased by millennial women aged from 25 to 34. However, there is increasing acceptance for beauty devices and products among both men and women, which would, in turn, boost the market growth.
In 2019, the hair removal devices accounted for the largest market share in the North Americabeauty devices market. Shaving has been among the widely adopted methods to remove unwanted body hair. However, with repeated shaving, thick hair grows back in a short time. To get over these issues, there are a number of advanced hair removal devices, varying from epilators to light-based home-use devices, currently available in the market. Also, the growing popularity of beauty clinics has increased the demand for hair removal devices for better treatment services. Moreover, growing physical consciousness among millennial has enhanced the need for alternative methods such as regular hair trimming and body hair shaving. The growth of hair removal devices is also increasingly influenced by the rising application of intense pulsed light (IPL) devices. The demand for these devices has hiked due to their precision in removing hair.
Along with the factors mentioned above, the high cost of permanent hair removal procedures is increasing the demand for hair removal devices, such as electric razors, epilators, and IPLs, in the American countries. The growing demand for painless hair devices has also led to technological advancements. Device manufacturers are engaged in developing products that offer painless experience along with less hair growth for an extended period. For instance, the advent of dermal cooling technology in laser treatment reduces the chances of side effects. Such advancements, coupled with increasing demand, are expected to drive the beauty device market.
In 2019, the salon segment, held the most significant market share of the beauty devices market by the usage area. This segment is also anticipated to hold a considerable portion of the market in 2027, owing to the changing consumer perception, coupled with increasing capita income, has enabled people flocking to spa and salons for various skin treatments, such as facial rejuvenation and acne treatment. The segment is also anticipated to witness growth at a significant rate during the forecast period.
Some of the significant primary and secondary sources for cold plasma equipment included in the report are US Bureau of Labor Statistics, Centers for Disease Control and Prevention (CDC), and U.S. Census Bureau.