The global beauty tools market is anticipated to grow at a CAGR of 10.3% during the forecast period. The major factors that are contributing to the growth of the global beauty tools market include the rising inclination toward the physical appearance to look younger and attractive, and rising awareness about personal grooming is propelling product demand. The product manufacturers promote their brands and innovative technologies through social media campaigns. Moreover, increased investments in celebrity endorsement by beauty tool manufacturers to influence the target customers will further likely create new prospects in terms of product demand. The market growth is mainly attributed to the significant investment by the women population across the globe in beauty products and tools. As per Groupon’s study in 2020, women spend an average of $3,756 a year (or $313 a month), which adds up to $225,360 throughout their entire lifetime (ages 18-78). The demand for beauty products such as hair dryers, facial toning devices, razors, trimmers, and others is comparatively high among women which are expected to increase more during the forecast period, which in turn will drive the market growth.
Moreover, social media platforms are also influencing consumers to attract to beauty tools and products. Social media has amplified the importance of outer appearance. In a study from the Harvard Business School in 2020, a whopping 62% of women said they follow beauty influencers on social media. When asked where they seek information about beauty products and tools before purchasing them, social media influencers ranked highest at nearly 67%. The availability of cost-effective non-branded beauty tools in the market may hamper the growth of the market. Apart from these, Low penetration in the developing and underdeveloped market due to lack of awareness is the major challenge to be overcome by the market players to grow more in the upcoming future.
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Beauty Tools Market Segmentation
By Type
- Hair care
- Razors
- Trimmers
- Brushes & Combs
- Manicure & Pedicure
- Sponges & Puffs
- Others
By Application
- Household
- Commercial
By Distribution Channel
- Store-Based
- Non-Store-Based
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- l.f. Cosmetics, Inc.
- Estée Lauder Companies Inc.
- Home Skinovations, Ltd.
- Koninklijke Philips N.V.
- L'Oréal S.A.
- Lumenis, Ltd.
- Moët Hennessy - Louis Vuitton (LVMH)
- Paris Presents, Inc.
- Procter & Gamble Co.
- Revlon, Inc.
- Shiseido Co. Ltd.
- TRIA Beauty, Inc.
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