A recent Kline research report said that the global at-home beauty device market grew 11.5% in 2015. Here are the top 10 reasons for it, according to Kline:
- The market is starting to grow outside the U.S., both locally and regionally. Different marketing components for these devices are gaining traction.
- While direct sales account for nearly 50% of the market, product distribution can vary greatly depending on the country the consumer is in.
- Online buzz. Created through social media, online reviews and digital campaigns, consumer education is a key component of this growth.
- Local brands multinational companies competing, especially in Asia. While multinational brands account for nearly 50% of total global sales, local marketers are seeing strong, sustainable growth.
- Devices for cleansing, hair removal and anti-aging lead the way because of the need for skin care solutions. These three areas bring in more than 80% of total market sales, causing the market for at-home beauty devices to flourish.
- Cleansing is the largest beauty segment and continues to grow as new cleansing devices are unveiled.
- Hair regrowth is the strongest growing beauty segment at 21% in 2015.New launches in Europe and the U.S. are propelling the segment, and Asia has potential to emerge because of minimal competition.
- The anti-aging segment is also growing strong in Asian markets, with multifunctional products made with new technology driving significant revenue.
- Celebrities brand ambassadors, particularly in Asia, attracts new consumers in droves.
- The launches of mini devices continue in the U.S and Europe and gain consumer attention because of their travel size advantage.
