NEW YORK, May 17, 2018 (GLOBE NEWSWIRE) — According to the new market research report published by P&S Market Research, global home-use beauty devices market is expected to reach $16.7 billion by 2023, the market is mainly driven by increasing inclination of consumers toward easy-to-use home-use beauty devices, rising prevalence of skin diseases, growing appearance consciousness in people and awareness about these devices, expanding product portfolio of market players, and surge in disposable income.
Based on type, the home-use beauty devices market for anti-aging is expected to reach $3.9 billion by 2023, registering a CAGR of 21.7% during the forecast period. As stated by the United Nations (U.N.), in 2017, there are around 962 million people aged 60 or above, comprising 13% of the global population. The population aged 60 or above is growing at a rate of about 3% every year. Thus, various beauty-related problems associated with aging, such as wrinkles, loosening of the skin, increase in facial hair, and drooping eyebrows and eyelids, are contributing to the market growth of this category.
Request to get the sample pages: https://www.psmarketresearch.com/market-analysis/home-use-beauty-devices-market/report-sample
During the forecast period, the European home-use beauty devices market is expected to outpace the North American home-use beauty devices market, on account of rising geriatric population, increasing prevalence of hair- and skin-related diseases, and introduction of specialized hair regrowth devices in addition to apps that educate consumers on the usage of such devices.
The prevalence of androgenetic alopecia (hair loss) is reportedly higher in the European population as compared to the Asians, Native Americans, and African-Americans population. The introduction of specialized hair regrowth devices in Europe has witnessed increased adoption by people, as problems such as hair loss are more common among Europeans as compared to the people in other regions. Besides, France is considered the fashion-hub of the world and is home to some of the renowned fashion brands. L’Oreal SA is one such brand based in France that commercializes cosmetics and home-use beauty devices.
In order to increase their market share, key players in the home-use beauty devices industry are acquiring other companies operating in the domain. For instance, in May 2018, L’Oréal SA (L’Oréal) announced 100% acquisition of Nanda Co. Ltd., a Korean lifestyle make-up and fashion company. With this acquisition, L’Oréal plans to expand the sales of the 3CE cosmetics brand, internationally. The company expects to complete the transaction in two months, after receiving customary regulatory approvals.
Browse report overview with 65 tables and 32 figures spread through 122 pages and detailed TOC on “Home-Use Beauty Devices Market” at: https://www.psmarketresearch.com/market-analysis/home-use-beauty-devices-market
Furthermore, in March 2018, the company completed its previously announced acquisition of ModiFace Inc., a provider of augmented reality and artificial intelligence in the beauty industry. The acquisition is in line with L’Oréal’s digital acceleration strategy to integrate these technologies in its 34 international brands in order to enhance customer experience with the brand.
Some of the other key players operating in the home-use beauty devices market are Nu Skin Enterprises Inc., TRIA Beauty Inc., Home Skinovations Ltd., The Procter & Gamble Company, iluminage Beauty Inc., Koninklijke Philips N.V., Spectrum Brands Holdings Inc., YA-MAN LTD., MTG Co. Ltd., and Carol Cole Company.
More Published Reports by P&S Market Research
Artificial Disc Market
The APAC artificial disc market is expected to witness the fastest growth in demand, at a CAGR of 20.6%, during the forecast period, owing to growing geriatric population, rising healthcare expenditure, increasing per capita income, and increasing public and private investments in the healthcare sector to cater to the unmet medical needs of the people in the region.
Wearable Fitness Trackers Market
During the forecast period, the wearable fitness trackers industry is expected to witness fastest growth in Asia-Pacific (APAC), owing to the presence of local players providing low cost fitness tracker devices, rising adoption of fitness trackers due to increasing prevalence of chronic diseases, and surge in the number of internet users and e-shoppers.
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
P&S Market Research
347, 5th Ave. #1402
New York City, NY – 10016
Toll-free: +1-888-778-7886 (USA/Canada)