Beauty Tools Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Beauty Tools Market
The beauty tools market size was valued at USD 67.08 billion in 2022, and the market is now projected to grow from USD 68.94 billion in 2023 to USD 92.08 billion by 2030, exhibiting a CAGR of 4.22% during the forecast period of 2023-2030.
The COVID-19 impacted beauty industry in numerous diverse ways, making had plummeted, customer spending fell harshly, job losses surged, and investment and growth plans were cancelled. The trades were amazed by the COVID-19 disasters due to the international travel bans and retail businesses terminations, which lead to the decline of sale across numerous beauty sectors.
The growing awareness surrounding self-grooming has become a powerful catalyst boosting this market. In the modern period, entities are progressively identifying the importance of individual appearance and grooming, prompting a surge in the demand for beauty and cosmetics tools that ease this transformative procedure. Moreover, the market observed technological improvements that more attract customers. Smart devices integrating artificial intelligence, modified processes, and user friendly interfaces are becoming prevalent, providing the tech-savvy demographic pursuing continuous incorporation of technology into their training routines, thus contributing to the beauty tools market’s growth.
The modern trends in beauty campaigns spin around technology incorporation, sustainability, adaptability, and inclusivity which deals customers novel solutions for their skincare and beauty routines. There has been upsurge in customer demand for effective skincare and makeup solution which continuously motivates modification in developments. Smart skincare tools, such as face cleaning brushes with bluetooth connectivity or procedures that analyze skin circumstances, have increased popularity. Sustainability is a significant emphasis in the beauty industry, and this prolongs to beauty and makeup tools as well. There is increasing demand for ecological materials and packing.
Comprehensive Analysis of Beauty Tools Market
The market can be segmented in various ways, depending on the focus of analysis such as by type, by distribution channel. Based on type, the market is classified into makeup tools, skincare tools, haircare tool, and nail tools. Based on the distribution channel, the market is segmented into online and offline.
Asia Pacific region is dominating the beauty tools market share due to rising customer interest in technology-driven tools with progressive features.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Estee Lauder Companies Inc. (U.S.), The Procter & Gamble Company(U.S.), PPI Beauty (U.S.), e.i.f. Cosmetics, Inc. (U.S.), Avon Products, Inc. (UK), Edgewell Personal Care (U.S.), Louis Vuitton (France), Coty, Inc. (U.S.), Loreal SA (France), Shiseido Co. Ltd. (Japan), TRIA BEAUTY (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In August 2023, L’Oreal S.A. declared that it has accomplished the achievement of Australian luxury beauty brand, Aesop. This achievement is anticipated to help the company diversify its product portfolio and enlarge its footprint. It also targeted at refining the tools supply in the world-wide market.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 4.22% from 2023 to 2030
Unit Value (USD Billion)
Segmentation
By Type
Makeup Tools
Skincare Tools
Haircare Tools
Nail Tools
By Distribution Channel
Offline
Online
By Geography
North America (By Type, Distribution Channel, and Country)
U.S. (By Type)
Canada (By Type)
Mexico (By Type
Europe (By Type, Distribution Channel, and Country)
U.K. (By Type)
Germany (By Type)
France (By Type)
Italy (By Type)
Spain (By Type)
Rest of Europe (By Type)
Asia Pacific (By Type, Distribution Channel, and Country)
China (By Type)
India (By Type)
Japan (By Type)
Australia (By Type)
Rest of Asia Pacific (By Type)
South America (By Type, Distribution Channel, and Country)
Brazil (By Type)
Argentina (By Type)
Rest of South America (By Type)
The Middle East & Africa (By Type, Distribution Channel, and Country)
South Africa (By Type)
UAE (By Type)
Rest of the Middle East & Africa (By Type)
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