USD 4.11 Billion
Beauty Tools Market Size, Share, Growth Analysis, By Type(Conventional, Organic), By Product(Skin Care, Hair Care, Color Cosmetics, Fragrances), By Distribution channel(Hypermarkets & Supermarkets, Specialty Stores, E-commerce, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2252 |
Region:
Global |
Published Date: May, 2024
Pages:
198
|Tables:
92
|Figures:
68
Beauty Tools Market Insights
Global Beauty Tools Market size was valued at USD 4.11 Billion in 2022 and is poised to grow from USD 7.10 Billion in 2023 to USD 7.49 Billion by 2031, at a CAGR of 6.9% during the forecast period (2024-2031).
The market for cosmetics and personal hygiene items is anticipated to grow between 2024 and 2034 at a consistent compound annual growth rate of 6.20%. Since social media and internet platforms have grown in popularity, buyers can now find out a lot about the contents, advantages, and reviews of products. A better-informed consumer base increases the chance of product acceptance; examples of this include beauty influencers and online tutorials.
Demand for natural and organic alternatives has surged as a result of consumer knowledge of the possibly detrimental consequences of synthetic substances in beauty and personal care products. The idea that natural and organic products are safer, healthier, and more ecologically friendly is the cause of this shift in consumer demand. In response to this trend, businesses are increasing the range of natural and organic products they provide, putting a focus on using plant-based ingredients instead of harsh chemicals.
Customization is becoming more and more popular as people want more individualized experiences with personal care and beauty. When it comes to skincare goods, haircare products that address particular hair difficulties, or cosmetics that complement a particular style, consumers are looking for items that are customized to meet their personal requirements and tastes. In order to address this need, businesses are utilizing technology to provide individualized product suggestions, specially blended formulae, and augmented reality tools for virtual try-ons.
The beauty and personal care product business is seeing a rise in the influence of environmental consciousness and social responsibility on customer purchase decisions. Customers are requesting items that are ethically and sustainably obtained; they are looking for brands that value environmentally friendly operations, reduce their negative effects on the environment, and follow ethical sourcing standards. In response, businesses are utilizing renewable materials, implementing sustainable packaging solutions, and making sure that their supply chains adhere to ethical labour standards.
eCommerce has revolutionized the personal care and cosmetics industry by giving customers easy access to a wide range of goods throughout the globe. Customers may research products, compare prices, and make purchases from the comfort of their homes with the ease of using online platforms. Social media has developed into a vital tool that businesses use to interact with customers, promote their products, and foster brand loyalty. Influencers are important in influencing customers' opinions and decisions to buy.
Men's personal care products are in high demand as a result of the declining stigma associated with men's grooming. Businesses are responding to this expanding market by creating a wider variety of men's grooming products that are especially suited to their requirements and tastes and by launching focused marketing initiatives to attract this market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Specialty Stores
Fastest Growth
Hypermarkets & Supermarkets
Growth Rate
6.9% CAGR
Global Beauty Tools Market ($ Bn)
Country Share For North America Region (%)
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Beauty Tools Market Segmental Analysis
The Global Beauty Tools Market is segmented on the basis of by Type, By product, By distribution channel, By region. By type, the market is segmented into Conventional, Organic. By Product, the market is segmented into Skin Care, Hair Care, Colour Cosmetics, Fragrances, Others. By distribution channel, Hypermarkets & Supermarkets, Specialty Stores, E-commerce, Others. By region, the market is segmented North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Analysis By Product
In 2022, the skincare category held a 33.6% sales share in the market for beauty and personal care goods. This is related to the growing demand for natural and organic cosmetics made with components including fruit, plant, and herb extracts. Skincare products can be used to address wrinkles and other symptoms of aging, reduce acne, lighten spots, protect the skin, and maintain young, healthy-looking skin, among many other advantages. The skincare industry is still expanding because to these advantages.
Over the projection period, the haircare segment is anticipated to grow at a compound annual growth rate of more than 7.9%. Haircare products are used to treat a variety of hair issues, including dandruff, split ends, frizzy hair, hair loss, and dry or itchy scalp. Over the course of the projection period, the availability of a wide range of haircare products, including shampoo, conditioner, hair gel, hair wax, hair serum, hair oil, and hair colorants, in different formats and for a variety of customer needs will propel segment expansion.
Analysis By Distribution Channel
Due to the increasing number of speciality stores opening up across the world, this segment had the highest revenue share in 2022—35.6%. In order to attract customers and give them a variety of brands and options to select from before making a purchase, these businesses have been concentrating on providing natural and chemical-free beauty and personal care goods. This segment's growth has also been aided by the presence of store associates who assist consumers in choosing the appropriate cosmetics for their needs and who can provide sufficient information about the contents.
The buying of cosmetics and personal hygiene products has become more common in supermarkets and hypermarkets because they provide a large selection of goods under one roof and are conveniently close to residential areas for quick access. However, from 2023 to 2030, the e-commerce channel is anticipated to grow at the quickest rate. The expansion of this segment has been driven by growing internet penetration and targeted marketing efforts by businesses to reach a larger consumer. The sales of cosmetics and personal hygiene products in this area will also be boosted by the significant discounts and offers made by internet platforms.
Global Beauty Tools Market By Distribution Channel
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Beauty Tools Market Regional Insights
At 39.2% of global sales in 2022, North America maintained its lead position and is predicted to increase at the quickest rate during the projection period. This can be attributed to the growing number of working women in nations like China and India, as well as their increased ability and interest in purchasing cosmetics and personal hygiene items. Also, during the course of the projection years, the growing young population in these nations with internet connection is anticipated to present a plethora of prospects for the expansion of the regional market.
Natural and vegan cosmetics are becoming increasingly popular, notably in the UK, France, and Germany. This is driving growth in the European market for beauty and personal care goods. Customers in North America, particularly those in the United States and Canada, are willing to shell out a lot of money for cosmetics that improve their exterior looks. Regional markets will be driven by leading businesses and the increased spending power of consumers in these areas.
From 2023 to 2030, Canada is predicted to grow at a CAGR of 8.6%. The International Trade Administration states that exporters of cosmetic products from the United States have a big opportunity as Canada's beauty and personal care sector continues to grow. An ongoing trend in beauty products is consumers' increased desire for natural or organic, cruelty-free, and non-animal tested cosmetics.
The percentage of organic and ethically sourced skincare products in the Canadian market has increased to approximately 40% due to consumer preferences. The growth of cosmetics in Canada has been encouraged by emerging market trends. This includes creating items that appeal to consumers' age, gender, and ethnicity in addition to leveraging technology to enhance marketing strategies. Innovative, eco-friendly packaging and design have also contributed to the growing popularity of beauty goods.
Global Beauty Tools Market By Geography
- Largest
- Fastest
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Beauty Tools Market Dynamics
Drivers
- A major factor in the growth in demand for beauty tools during the predicted period has been technological advancement and the simple availability of these equipment, particularly on online platforms. Also, the product market is predicted to increase rapidly due to the employment of catchy language in endorsements, offers, and discounts on important occasions. These strategies are drawing in customers.
- This product's primary target market consists of those who are self-conscious about their appearance. They provide the skin a little pick-me-up and an attractive glow. In order to give hair new looks and help it hold its shape longer, hair accessories like curling irons and straighteners come with a hot air brush as an added bonus.
Restraints
Regulatory Restrictions Limit the Growth of the Beauty Tech Market
- In the beauty and cosmetics industry, a significant obstacle is the absence of regulations. Cosmetic products typically contain non-regulated components that do not surpass safety and environmental regulations. Furthermore, when there is a lack of regulation, businesses use hazardous chemicals in their products and vaguely describe them as perfumes, which can harm customers and prevent the use of these cosmetics. Additionally, marketing myths can further mislead customers as there is no concrete evidence to support the claims. The increasing need for transparency and improved labeling is forcing big businesses to alter their products to live up to consumer expectations. Future market expansion may also be hampered by challenges in viewing and experiencing the products, as well as a complex selling environment brought on by the combination of offline and online sales. Moreover, product adoption and extension are constrained by the absence of cosmetics for people 40 years of age and above. For cosmetic businesses, this undeveloped market presents a number of opportunities. But, neglecting this market could restrict sales of cosmetic products and, thus, impede market growth to some degree throughout the forecast period.
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Beauty Tools Market Competitive Landscape
Procter & Gamble, Unilever, L'Oréal SA, Colgate-Palmolive Company, and Estee Lauder Inc. are just a few of the major domestic and international companies that dominate the highly competitive worldwide beauty and personal care sector. Increased adherence to skincare regimens and customer awareness of brand expertise are the primary drivers of demand. The businesses enhanced the product's quality and inventiveness in terms of its packaging, functionality, and ingredients. In order to accomplish consolidation and maximize offerings, the major firms are pursuing mergers, acquisitions, and product innovation as their primary tactics. To achieve domination in the local market, these players also merge with local players.
Top Player’s Company Profile
- The Estee Lauder Companies Inc.
- The Procter & Gamble Company
- Unilever PLC Beiersdorf AG Shiseido Company
- Limited Coty Inc.
- Natura & Co Holding S.A.
- Hindustan Unilever Limited
- AmorePacific Corporation
- Louis Vuitton S.A.
- Kao Corporation
- Shiseido Co. Ltd.
Recent Developments
- In 2023 New lipstick shades designed for Indian skin tones have been introduced by the Lakme cosmetics company. The items include MP18 Plum Pick, cheek color-nude, and Lakme Absolute Matte Revolution Lip Color in blushing red.
- In 2023 Together with Loop, a circular shopping platform that distributes goods in reusable containers and gathers them for cleaning and refilling, L'Oréal and Unilever have formed a partnership.
Beauty Tools Key Market Trends
- Organic Formulations Source/ Inclination toward Natural: The market for natural and organic skincare products was stimulated by growing worries about the adverse consequences of chemicals in personal care products, which include allergies, dullness, and skin irritation. Long-term usage of synthetic cosmetics can lead to toxicity, hormone imbalances, and inflammation, among other health problems. Organic cosmetics, on the other hand, do not damage skin because they contain natural oils and plant extracts. Customers choose natural skincare and cosmetic products that are clear about their contents and free of chemicals. Due to this issue, customers started to favor organic skincare products over synthetic ones.
- Manufacturers are updating and developing their product lines by adding a large selection of organic skincare products in an attempt to take advantage of this growing consumer demand. With promises of being chemical-free, cruelty-free, vegan, organic, and made with plant-based, clean-label components, these products are available. For example, A new skincare brand from Shiseido, was unveiled in April 2022. It buys botanicals from nearby vertical farms that don't use pesticides. Customers are looking for sustainable, eco-friendly, and natural skincare products with more transparent product ingredients as awareness of the advantages of natural skincare has grown. Additionally, it is anticipated that the market for natural and organic beauty and personal care products would expand due to the growing trend of organic concepts through online stores for bio-cosmetic products.
Beauty Tools Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our beauty and personal care products market customers' growing self-consciousness about their looks is one of the main drivers propelling industry expansion. Among millennials, skin care, color cosmetics, and hair care products are becoming essential components of everyday grooming regimens. The market's expansion has also been assisted by the advent of cosmetics made of organic, natural, and non-toxic materials.
The market's expansion in terms of value sales has been aided by the accessibility of these cosmetic products through a variety of sales channels, including pharmacies, specialty shops, and salons. Additionally, it is projected that there will be significant growth prospects due to the growing emphasis that male consumers have on skin care and grooming to improve their physical appearance and take better care of their skin. Prospects for market expansion are further enhanced by more investments in the creation of novel and efficient products.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.11 Billion |
| Market size value in 2031 | USD 7.49 Billion |
| Growth Rate | 6.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Beauty Tools Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Beauty Tools Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Beauty Tools Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Beauty Tools Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Beauty Tools Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Beauty Tools Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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