It may be time for beauty retailers to up their offerings on at-home beauty devices—with an emphasis on hair removal.
The U.S. beauty devices market is rapidly increasing, according to a market research report published by P&S Market Research. Driven by a growing geriatric population, an increase in the prevalence of skin diseases and hair loss—and more healthcare expenditure, the market is expected to reach $32.5 billion by 2023.
The U.S. beauty devices market is categorized into hair removal, cleansing, acne, light/LED therapy and photorejuvenation, oxygen and steamer, hair growth, dermal rollers, cellulite reduction and other devices. In terms of usage, it has been categorized into salon, spa, at-home and others.
During the forecast period, the market is expected to witness the highest growth in the at-home beauty devices category at an impressive CAGR of 19.3 percent. The easy availability of various beauty products and devices for hair removal, acne reduction and skin rejuvenation is making the U.S. population more inclined to opt for portable, easy-to-use and convenient at-home beauty devices. Plus, various facial therapies and body treatments offered at salons and spas can be done at home with the help of these devices. The ergonomic design and portability of at-home devices also make them appealing to consumers.
The market for hair removal devices, in particular, is predicted to reach $7.9 billion by 2023 with a CAGR of 18.8 percent. Hair removal devices are used to remove and reduce unwanted hair painlessly, without damaging the surrounding skin. In some devices, laser is also used, which produces enough heat to destroy hair and create long-lasting results, making laser hair-removal products more in demand.
Fore more information about the report, visit psmarketresearch.com