Beauty Tools Market: Current Status, In-depth Analysis and Forecast Outlook 2031

The global beauty tools market is anticipated to grow at a CAGR of 10.3% during the forecast period. The major factors that are contributing to the growth of the global beauty tools market include the rising inclination toward the physical appearance to look younger and attractive, and rising awareness about personal grooming is propelling product demand. The product manufacturers promote their brands and innovative technologies through social media campaigns. Moreover, increased investments in celebrity endorsement by beauty tool manufacturers to influence the target customers will further likely create new prospects in terms of product demand. The market growth is mainly attributed to the significant investment by the women population across the globe in beauty products and tools.  As per Groupon’s study in 2020, women spend an average of $3,756 a year (or $313 a month), which adds up to $225,360 throughout their entire lifetime (ages 18-78). The demand for beauty products such as hair dryers, facial toning devices, razors, trimmers, and others is comparatively high among women which are expected to increase more during the forecast period, which in turn will drive the market growth. 

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Moreover, social media platforms are also influencing consumers to attract to beauty tools and products. Social media has amplified the importance of outer appearance. In a study from the Harvard Business School in 2020, a whopping 62% of women said they follow beauty influencers on social media. When asked where they seek information about beauty products and tools before purchasing them, social media influencers ranked highest at nearly 67%. The availability of cost-effective non-branded beauty tools in the market may hamper the growth of the market. Apart from these, Low penetration in the developing and underdeveloped market due to lack of awareness is the major challenge to be overcome by the market players to grow more in the upcoming future. 

Segmental Outlook  

The global beauty tools market is segmented based on the type, application, and distribution channel. Based on the type, the market is sub-segmented into hair care, razors, trimmers, brushes & combs, manicure & pedicure, sponges & puffs, and others. Among these, the hair care segment is likely to hold a considerable share among other segments during the forecast period. Based on the application, the market is sub-segmented into household and commercial. Based on the distribution channel, the market is sub-segmented into store-based and non-store-based. Among these segments, the household segment is expected to propel the growth of the market due to the increasing usage and demand for beauty tools in households globally.

Based on application, the household segment will be going to secure the highest revenue share in the market during the forecast period. Time shortages and hectic schedules made people adopt customized beauty products for personal grooming. As a result, the household use of beauty tools has risen considerably in the past few years. Moreover, the rising inclination of the elderly population towards looking young and beautiful had generated the demand for home-use beauty devices in massive volumes. In addition, the surging prevalence of skin diseases such as dyspigmentation, psoriasis, deep wrinkles, and others among the geriatric population has also surged the adoption of home-based beauty tools that assist in managing and treating these diseases. Hence these factors lead to the segment growth. 

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Regional Outlook 

Geographically, the global beauty tools market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). North America held the largest share in the global beauty tools market in 2021. The rising appearance consciousness and high disposable income are the key factors boosting the regional market growth. The introduction of innovative products launched by key players is also the reason the market shows an impressive growth rate. For instance, in January 2020, L'Oréal S.A launched Perso, an AI-enabled at-home skincare device. The device is designed to provide personalized skincare formulas for customers based on real-time data and trend analysis.

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