Beauty Appliance Market Expected To Be Worth $ 311,039.3 Million By 2030
The beauty device market is propelled by the increasing incidence of skin diseases, the growing public awareness of these products, the rise of the geriatric population, and the growing awareness of appearance. As a result, the sale of these devices generated $ 50,814.4 million in 2020, which is expected to reach $ 311,039.3 million by 2030, at a CAGR of 20.6% between 2021 and 2030 (period of forecast). Another key factor that is helping the industry move forward is the increasing availability of these products online.
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Categories based on type are Hair Removal, Acne Treatment, Cleansing, Light Emitting Diode (LED) Therapy and Photorejuvenation, Hair Growth, Cellulite Reduction, Oxygen / Steam facial and dermarolling. Of these, the LED Therapy and Photorejuvenation category generated the highest revenue during the period 2015-2020 (historical period) due to the use of these devices for a range of skin conditions, such as blemishes. , pigmentation, wrinkles, age spots, sun-induced freckles, and fine lines. This is why this category will also experience the fastest growth during the forecast period, to maintain its dominance.
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Salon, home, and spa are the beauty device market categories sub-segmented by usage. In 2020, the salon category held the largest share due to the growing number of such establishments around the world. Salons are preferred by people because they offer a range of beauty services and treatments for many skin problems at cost effective rates. In addition, as people become more and more aware of their appearance, they visit salons for a full regimen of beauty and skin care.
In 2020, North America dominated the beauty device market due to the high disposable income of people. Additionally, 50 million people in the United States suffer from acne each year, according to the American Academy of Dermatology (AAD), which is driving demand for these devices. In addition, several market players have their headquarters in the region and engage in research and development (R&D) to offer cutting-edge products. The growth of the geriatric population and the awareness of appearance are other key reasons for the growth of the regional market.
Therefore, with the increasing emphasis on appearance, the market will continue to advance.
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