Global beauty devices market to surpass $34 billion by 2024
A recent study shows an increase in global demand for beauty devices as consumers are opting for various beauty care products.
According to a study by reportlinker.com, increasing levels of pollution and its detrimental effects on skin and hair are resulting in increase in demand for beauty devices as consumers are opting for various beauty care products. Surging disposable income, escalating geriatric population, increasing appearance consciousness and awareness about beauty devices, and growing prevalence of hormonal disorders are few of the other major factors driving the growth of global beauty devices market. The categories for the analysis include hair removal, skin care, hair care and others, with skin care scoring the fastest growth. The timeframe for the forecast is from Year 2020 to 2024.
The hair care category captured the major share of the market due to availability of numerous products across geographies owing to which the category has been witnessing significant growth throughout the historical period (2014-2017) and is anticipated to maintain its dominance during the forecast period as well. Geographically, the analysis covers North America, Europe, Asia-Pacific, South America and Middle East and Africa. Some of the major players operating the global beauty devices market are Procter & Gamble, Panasonic Corporation, Koninklijke Philips N.V., among others.