Personalized Beauty Devices: Mapping the Global Market Landscape in 2024

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.

Market Overview -
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.

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The Impact Of Growing Skincare Awareness On The Personalized Beauty Devices Market
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.

Competitive Landscape -
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

L'Oréal Introduces HAPTA For Inclusive And Precise Makeup Application
Major companies operating in the personalized beauty devices market focus on developing innovative products, such as HAPTA, to meet the growing demand for personalized beauty devices. HAPTA maintains the applicator level and adapts to the user's position using sophisticated sensors and motion-stabilizing technology, allowing for steady and accurate makeup application. For instance, in January 2023, L'Oréal S.A., a France-based cosmetics company, launched a personalized beauty device called HAPTA. It makes beauty more accessible and inclusive by helping people with ailments like restricted grip strength, essential tremors, and limited hand and arm mobility. In addition to being ergonomically designed for ease of use, the device has smart motion controls and customizable attachments to extend the user's range of motion.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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