- November 10, 2021
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NEW YORK, Nov. 9, 2021 /PRNewswire/ — Witnessing a 19.6% CAGR during 2021–2030, the U.S. beauty devices market value will increase to $99,468.0 million in 2030 from $17,623.1 million in 2020. Though device sales witnessed a massive slump due to the COVID-19 pandemic, they started rising again from the third quarter of 2020, when the lockdowns and many other restrictions began to be lifted around the world.
This was because of the rising prevalence of dermatological problems, which had been driving the market in the first place. For instance, almost 85% of the people in the country get acne at least once, says the American Academy of Dermatology (AAD). Apart from acne, dyspigmentation, psoriasis, deep wrinkles, hyperpigmentation, atopic dermatitis, freckles, and melasma are fairly common in the U.S., thus propelling the usage of beauty devices.
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Key Findings of U.S. Beauty Devices Market Report
Hair removal devices are the most popular in the U.S. beauty devices market, as body hair, apart from eyebrows and male beards, have become rather undesirable among Americans.
Excess female body hair due to polycystic ovary syndrome (PCOS) and other hormonal issues is also propelling hair removal device sales in the U.S.
The sales of home-use beauty devices will rise the fastest in the country owing to their cost-effectiveness, portability, and low requirement for technical expertise.
The presence of numerous beauty device companies has made the U.S. market rather competitive, because of which key players are launching newer products.
Mergers and acquisitions have also been effective strategic measures as they allow companies to gain technical expertise, a wider customer base, and access to more sales channels and widen their product portfolio.
L'Oreal SA acquired Nanda Co. Ltd. in May 2018 to increase the sale of its 3CE brand of cosmetic products, as Nanda is a makeup, lifestyle, and fashion company.
Another key reason for the growth of the U.S. beauty devices market is people's disposable income, which had surged to $13,968.6 billion in 2016 from $10,036.9 billion in 2006, as per the U.S. Bureau of Labor Statistics. With a higher income comes more purchasing power, which boosts the sale of such products. Therefore, with the national disposable income set to increase to $21,178.2 billion by 2026, the demand for beauty devices will rise further.
Browse detailed report on U.S. Beauty Devices Market Size and Growth Forecast to 2030
The key companies in the U.S. beauty devices market are Panasonic Corporation, Nu Skin Enterprises Inc., Lumenis Ltd., TRIA Beauty Inc., Carol Cole Company Inc., Home Skinovations Ltd., L'Oréal SA, YA-MAN LTD., Candela Corporation, MTG Co. Ltd., LightStim, and Koninklijke Philips N.V.
U.S. Beauty Devices Market Breakdown
U.S. Beauty Devices Market Based on Type
Light-Emitting Diode (LED) Therapy and Photorejuvenation
U.S. Beauty Devices Market Based on Usage
Browse More Reports on Beauty Devices/Products
Global Beauty Devices Market – Asia-Pacific is expected to be the fastest-growing market for beauty devices during the forecast period, primarily due to the increasing urbanization rate. This, accompanied by the increasing disposable income, offers a wide scope for the adoption of social networking platforms and leads to the rising concern regarding physical appearance among people, thereby driving the use of beauty devices.
Global Home-Use Beauty Devices Market – North America held the largest share in the home-use beauty devices market in the past as a result of the rising appearance consciousness and high disposable income, which boost the spending on a comprehensive beauty regimen.
U.S. Beauty Products Market – In the coming years, the U.S. beauty and personal care products market is predicted to witness the most-rapid advance in the click & collect category, under segmentation by mode of purchase. In this mode, people pay for the products online and then collect them from a designated store. This mode saves the time of people otherwise spent in long queues at hypermarkets.
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SOURCE P&S Intelligence
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