Global Household Beauty Appliances Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Jan 16, 2020--
The global household beauty appliances market size is poised to grow by USD 3 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global household beauty appliances market 2019-2023. (Graphic: Business Wire)
Evolving fashion trends are propelling the demand for beauty products and appliances, thereby raising fashion consciousness. These trends open new avenues for vendors to offer products as per market trends and consumer demand. In addition, vendors are also partnering with celebrities, especially from the fashion and entertainment industries, to promote the products. This has a significant impact on the sale of beauty products as consumers relate and emulate celebrities as their style icons. For instance, in India Koninklijke Philips hired Hindi film actor Alia Bhatt to endorse its KeraShine Hair Dryer and Styler. Thus, the evolving fashion trends and increasing fashion consciousness among consumers will drive the growth of the market.
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As per Technavio, the introduction of smart household beauty appliances will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Household Beauty Appliances Market: Introduction of Smart Household Beauty Appliances
Growing demand for household beauty appliances and increasing use of smart and featured appliances have encouraged vendors to introduce more smart beauty appliances. These appliances are user-friendly, equipped with the latest features, and have aesthetically improved designs. Smart household beauty appliances also offer varied features enabling users to address various other beauty concerns using one device. For instance, Foreo launched the Foreo UFO, a smart mask treatment device. The device combines advanced dermal technology with Korean mask formula for proper treatment in seconds. The device is equipped with hyper-infusion technology in which it analyses the natural reaction to heat and cold of the skin. The introduction of such appliances will have a positive impact on the growth of the household beauty appliances market during the forecast period.
“Other factors such as the introduction of multi-functional products and the increasing popularity of gender-specific products will have a positive impact on the growth of the household beauty appliances market during the forecast period,” says a senior analyst at Technavio.
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Household Beauty Appliances Market: Segmentation Analysis
This market research report segments the household beauty appliances market by product (hair styling appliances, hair removal appliances, and other beauty appliances), by distribution channel (online and offline), and by region (Americas, EMEA, and APAC).
The Americas held the largest share of the market in 2018, followed by EMEA and APAC respectively. During the forecast period, the Americas is expected to maintain its dominance as well as register the highest incremental growth owing to the growing new fashion trends, and a high demand for multi-purpose, travel-friendly, portable, and compact beauty appliances.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 01/16/2020 11:00 AM/DISC: 01/16/2020 11:01 AM