Beauty Tech Market Size, Share, Growth Analysis, By Type(Acne Devices, Hair Removal Devices, Hair Growth Devices, Cleansing Devices), By Application(Salon, Spa, Home, Others), By Portability(Pocket-Sized/Handheld Device, Fixed), By Mode of Operation(Electric, Battery, Operated, Manual), By Distribution Channel(Direct Sales, Retail, Online), By Region - Industry Forecast 2024-2031

Beauty Tech Market Driver

Rise in the Geriatric Population

• A rise in the global elderly population, an increase in the prevalence of skin-related disorders, and a rising lifestyle quotient are likely to boost the Beauty Tech Market over the forecast years. Skin problems, such as photo-aging, are becoming more common around the world as a result of excessive exposure to pollutants and ultraviolet (UV) radiation, leading in sunburns, diminished skin elasticity, and hair loss. Excessive alcohol use, pollution, and tobacco use are also causes of skin problems. Some of the most common skin disorders are acne, hyperpigmentation, depigmentation, psoriasis, freckles, deep wrinkles, atopic dermatitis, and melisma. Beauty Tech are increasingly being used to treat them. People with freckles, for example, can be treated with beautification equipment. As a result, the number of skin cancer cases is increasing. As a result, increased incidences of skin problems are propelling the Beauty tech industry forward.

Rising consumer awareness about Beauty Tech

• The growing awareness of the safety profile and benefits of energy-based aesthetic devices, particularly laser-based devices, is a key driver of the Beauty Tech Market. Laser skin tightening is a procedure recognized by the Food and Drug Administration (FDA) for the removal of fine lines, wrinkles, and skin laxity. When compared to traditional, surgical beauty treatments, the main advantages of energy-based aesthetic devices are little skin invasion, quick recovery, fewer side effects, and less discomfort. Furthermore, these technologies are inexpensive, painless, and provide quick results. All of these factors contribute to an increase in the demand for energy-based aesthetic devices, which in turn contributes to the global growth of the Beauty Tech Market. Facial care products have accounted for over 70% of total sales in the skin care sector in recent years. Customers value these products; thus manufacturers have moved their focus to facial beauty products.

Beauty Tech Market Restraint

Lack of regulation within the beauty industry is hampering Beauty Tech market growth

• One of the major challenges in the beauty and cosmetics sector is a lack of regulation. The majority of components in cosmetic goods are not regulated and so do not exceed environmental and safety standards. In addition, a lack of regulation leads to corporations employing dangerous chemicals in goods and loosely labeling them as perfumes, which can hurt consumers and hinder the uptake of such cosmetic items. Furthermore, because there is no scientific proof to back up the claims, marketing myths can further confuse customers. The growing need for openness and better labeling is putting pressure on significant corporations and driving them to change their goods to meet the expectations of their customers. Other obstacles that may impede market growth in the future include a complex selling environment owing to the mix of offline and online sales, as well as difficulties in viewing and experiencing the items. Furthermore, the lack of cosmetic items for adults aged 40 and older limits product extension and acceptance. This underdeveloped area offers several prospects for cosmetic enterprises; however, ignoring this segment may limit cosmetic product sales and, as a result, restrain market expansion to some extent during the projection period.