What Has Been The Evolution of the Beauty Tech Market in Recent Years?
The beauty tech market has seen considerable growth due to a variety of factors.
• The size of the beauty tech market has experienced significant growth in the past few years. The market is projected to increase from $68.87 billion in 2024 to $79.87 billion in 2025, with a compound annual growth rate (CAGR) of 16.0%.
The upward trend during the historic period can be linked to the rising adoption of IoT devices, substantial investment in beauty tech ventures and research, a surge in demand for eco-friendly and pure beauty products, customized beauty options, and digitization in retail.
What Are the Future Growth Projections for the Beauty Tech Market?
The beauty tech market is expected to maintain its strong growth trajectory in upcoming years.
• The beauty tech industry is poised for substantial expansion in the forthcoming years, anticipated to surge to a staggering $130.93 billion by 2029, with a compound annual growth rate (CAGR) of 13.2%.
This increased momentum during the projected period can be linked to an upsurge in consumer knowledge of eco-friendly beauty products, the influence of social media and similar platforms, the proliferation of subscription-based beauty boxes, e-commerce growth, globalization, and market stretching. Significant trends projected for this period encompass the use of artificial intelligence in discovering components, the emergence of advancements in beauty tech, AI-assisted skin examination and lip treatment, wearable beauty gadgets, and 3D virtual makeup applications.
What Are The Core Factors Supporting Growth In The Beauty Tech Market?
There is an expected growth in the beauty tech market due to the rising incidence of skin-related disorders. These disorders encompass medical conditions that impact the skin such as infections, autoimmune diseases, skin cancers, inflammations, allergic reactions, and genetic conditions. The rise in these disorders is attributed to factors like environmental pollution, changes in lifestyle, increased exposure to UV rays, and genetic predispositions. The use of beauty technology aids in managing these skin diseases through the use of AI-driven applications for early detection, telemedicine platforms for remote consultations, and personalized skincare solutions which enhance the accessibility and effectiveness of treatments. In fact, in April 2022, the American Academy of Dermatology Association, a US-based government organization, reported that melanoma had impacted over a million individuals in the United States and that it's predicted that there will be 197,700 new cases of melanoma diagnosed in the country in 2022. Of these reported cases, 97,920 are estimated to be noninvasive (in situ) while approximately 99,780 cases are anticipated to be invasive. Consequently, the surge in skin-related disorders will propel the growth of the beauty technology market.
What Are The Major Segments Within The Global Beauty Tech Market?
The beauty tech market covered in this report is segmented –
1) By Type: Acne Devices, Hair Removal Devices, Hair Growth Devices, Cleansing Devices, Oxygen Steamer Devices, Rejuvenation Devices, Other Types
2) By Portability: Handheld Device, Fixed
3) By Mode Of Operation: Electric, Battery Operated, Manual
4) Distribution Channel: Direct Sales, Retail, Online
5) By Application: Salon, Spa, Home, Other Applications
Subsegments:
1) By Acne Devices: Blue Light Therapy Devices, Microdermabrasion Devices, LED Acne Masks, Pore Cleansing Tools
2) By Hair Removal Devices: Laser Hair Removal Devices, IPL (Intense Pulsed Light) Devices, Electric Shavers, Waxing Devices
3) By Hair Growth Devices: Laser Caps And Helmets, Hair Growth Serums, Microneedling Devices, Scalp Massagers
4) By Cleansing Devices: Facial Cleansing Brushes, Sonic Cleansing Devices, Portable Facial Steamer, Exfoliating Tools
5) By Oxygen Steamer Devices: Facial Oxygen Steamer, Aromatherapy Steamers, Portable Oxygen Steamers, Home Spa Steamers
6) By Rejuvenation Devices: Radiofrequency Devices, Ultrasound Therapy Devices, LED Light Therapy Devices, Microneedling Devices
7) By Other Types: Anti-Aging Devices, Skin Tightening Devices, Hair Styling Tools, Makeup Tools And Gadgets
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How Are New Trends Impacting The Size Of The Beauty Tech Market?
Leading businesses within the beauty tech market, like L’Oréal, are generating progress by focusing on the creation of state-of-the-art solutions, such as the big bang beauty tech innovation programs. These programs are designed to fulfill diverse industry demands employing techniques like AI-driven tailor-made suggestions, data analysis for valuable insights, augmented reality for virtual product testing, and promoting ecologically sustainable operations. L’Oréal, a prominent company headquartered in France, initiated the Big Bang Beauty Tech Innovation Program in the SAPMENA region in June 2024, thereby solidifying its position as the largest open innovation contest in the beauty realm. The program serves to bridge gaps between startups and L’Oréal’s trading and digital experts for the joint creation of advanced beauty tech and marketing solutions. It is centered around five primary challenges: consumer experience, content, media, new commerce, and tech for good. The most successful three startups will earn investment for their commercial pilot projects and have the opportunity to be mentored by L’Oréal executives and partner organizations like Accenture and Google. Given that the SAPMENA region is home to 40% of the global population and houses a thriving startup landscape, this program underscores L’Oréal's dedication to fostering innovation in the beauty tech arena and boosts consumer experience in rapidly growing markets.
Who Are the Key Players In The Beauty Tech Market?
Major companies operating in the beauty tech market are:
• Johnson & Johnson
• The Procter & Gamble Company
• Unilever PLC
• Panasonic Corporation
• L'Oréal S.A.
• Henkel AG & Co.
• The Estée Lauder Companies Inc.
• Kao Corporation
• Ulta Beauty Inc.
• Sephora USA Inc.
• Shiseido Co. Ltd.
• Dyson Limited
• Coty Inc.
• Amorepacific Corporation
• Mary Kay Inc.
• Avon Products Inc.
• Nu Skin Enterprises Inc.
• Revlon Inc.
• Beiersdorf AG
• Foreo AB
• Clarins
• Tatcha LLC
• Quasar Bio-Tech Inc.
• Glossier Inc.
• Tria Beauty Inc.
• Skin Inc. Pte. Ltd.
• Murad
• NuFACE
• Dennis Gross Skincare LLC
• NuFACE
What Is The Most Dominant Region In The Beauty Tech Market?
North America was the largest region in the beauty tech market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the beauty tech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
