Market Growth for Beauty Devices

Posted on February 14, 2013 @ 07:31 am

Kline & Company's recently published "Beauty Devices: Global Market Analysis and Opportunities" reports that there is much potential for growth in Asia and Europe.

In China, especially, there is a largely under-penetrated but booming at-home skin care devices market, the market research firm says. The Chinese market grew by nearly 100% in 2012 and double-digit growth seen across all surveyed regions. The Chinese at-home beauty devices market falls into two price groups, with price points ranging from $20.00 to $300.00.

Seven of the top ten brands in China are local ones, but the market leader in China is Nu Skin, which also dominates the market in South Korea. The company recently expanded the number of its representatives in 2012, and registered gains of over 100% for its Galvanic Spa device. Procter & Gamble's Olay Pro-X and SKG ae also contributing to market growth in China.

Karen Doskow, consumer products practice industry manager, Kline, notes:

"The Asian market in particular is still essentially nascent, and many multinational companies are only now entering the market. Yet Asian OEMs are already serving the global market through parts manufacturing or producing private-label products for other companies, such as South Korea's Lotts manufactures devices for the Schick Medical's German SQOOM device."

The European market is also being shaped by regional brands, such as the leader in permanent hair removal, Lumea, by the Dutch-based Phillips, and the anti-aging device SQOOM by Germany's Schick Medical.

The United States retains its global market share lead with growth nearing 20% in 2012, driven by new product launches from existing marketers, such as Nu Face, BelleCore, and Tria.

In addition to new players like University Medical, with its well received anti-aging WrinkleMD Eye entering the fray. Blockbuster brand Clarisonic continues to deliver high sales growth with the support of its new parent company, cosmetics giant L'Oreal.

Doskow continues to explain:

"Convenience and a certain economic rationalism are motivating consumers to bring home the beauty experience traditionally provided by estheticians or physicians. It's a large and growing phenomenon, with at-home beauty devices offering multiple benefits a notable driving force."

She adds, "Presently, there are few truly multi-functional devices on the market, but as is already the case in Asian markets, these will become the norm rather than the exception."