Beauty Tools Market to Expand at a CAGR of 5.6% during Forecast Period: TMR Study
The global beauty tools industry is growing due to increased demand for natural and eco-friendly products, rising awareness of personal grooming, higher disposable income, and the influence of social media
Wilmington, Delaware, United States, May 22, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global beauty tools market stood at US$ 2.2 Bn in 2022 and is projected to reach US$ 3.6 Bn by 2031, expanding at a CAGR of 5.6% between 2023 and 2031.
Rise in demand for organic & environmentally-friendly products and customer knowledge about personal grooming are likely to drive market development. The global beauty tools market is also driven by rise in disposable income and growing influence of social media and beauty bloggers. Increase in acceptance of grooming habits, such as hair and skin care treatments, is anticipated to create lucrative business opportunities in the global beauty tools market.
Market trends for beauty tools have a big impact on key companies. As a result, they concentrate on funding the development of novel and enhanced beauty items. Leading suppliers of beauty products are working with other companies to diversify their product offerings, increase global footprint, and maintain regional growth.
Business growth is further accelerated by consumers' growing awareness about the need to maintain standards of personal hygiene and grooming. Makers of beauty equipment adopt various marketing techniques to draw in female customers. Besides, more men have been embracing beauty products, which is propelling the market. Development of innovative, environmentally-friendly beauty solutions present lucrative opportunities for market players.
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Market Scope:
Report Coverage | Details | |
Market Revenue | USD 2.2 Bn | |
Estimated Value | USD 3.6 Bn | |
Growth Rate - CAGR | 5.6% |
|
Forecast Period | 2023 - 2031 | |
No. of Pages | 180 Pages | |
Market Segmentation | By Type, Category, Price, Consumer Group, End-use, Distribution Channel | |
Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
Key Players | Coty Inc., e.l.f. Cosmetics, Inc., Edgewell Personal Care Company, Etude Corporation, L'Oréal S.A., Natura & Co, Paris Presents Incorporated, Procter & Gamble, Revlon Consumer Products Corporation, The Estée Lauder Companies Inc. | |
Key Findings of Market Report
The skin care segment is growing in popularity, as more individuals look for ways to enhance both the wellness and the appearance of their skin. Facial steamers, blackhead removers, face washing brushes, and facial rollers constitute some of the most widely used skin care products. Application-wise, different skin care instruments are useful in different situations. For instance, by removing oil, dirt, and pollutants, face washing brushes assist users in cleansing their facial skin.
Leading manufacturers of beauty tools are creating new and enhanced skin care equipment that are more user-friendly, practical, and inexpensive, which is propelling the global industry.
Global Beauty Tools Market: Growth Drivers
There is a growing use of beauty tools that are easy to use, practical, and have long-lasting results as consumers place a high value on personal cleanliness. Customers are encouraged to purchase items from the cosmetic tools list for home usage as disposable income rises. Global market growth is also fueled by increase in awareness about skin care and hair care, the impact of beauty and fashion trends, changing fashion trends, and expanding urbanization.
Companies are investing significantly in R&D activities to produce environmentally-friendly and sustainable beauty tools & accessories, which has resulted in the creation of more effective beauty tools owing to advancements in materials. There has been a rise in the usage of organic and natural beauty tool components due to rise in consumer demand for natural and sustainable products.
Market players are also aiming to introduce novel and improved beauty tools in order to give clients a greater selection that meets their unique wants and preferences. This factor is likely to fuel market demand for beauty tools in the next few years.
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Global Beauty Tools Market: Regional Landscape
North America is anticipated to account for significant market share due to rise in demand for and usage of beauty tools as well as presence of major industry players in the region.
Asia Pacific is rapidly growing region due to rise in disposable income and increase in awareness about cleanliness
Global Beauty Tools Market: Key Players
The Estée Lauder Companies Inc.
Edgewell Personal Care Company
Paris Presents Incorporated
e.l.f. Cosmetics, Inc.
Revlon Consumer Products Corporation
L'Oréal S.A
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Global Beauty Tools Market: Segmentation
Type
Makeup Brushes
Manicure and Pedicure Tools
Sponges and Puffs
Tweezers
Cleansing Tools
Steamers & Massager
Brushes and Combs
Cleansers & Scrubbers
Razors and Manual Trimmers
Others
Category
Skin Care
Hair Care
Body Care
Others
Price
Low (Below US$ 50)
Medium (US$ 50 - US$ 100)
High (Above US$ 100)
Consumer Group
Men
Women
Unisex
End-use
Residential
Commercial
Distribution Channel
Online
Offline
Regions
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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