The global beauty devices market, which includes hair removal, cleansing and LED devices, was valued at $19,389.1m in 2014, according to a new report by Persistence Market Research.
The category is expected to grow at a CAGR of 18.7% from 2014 to 2020, to reach an estimated value of $54,186.9m in 2020. One of the key factors driving growth are increasing disposable income.
In North America, the ageing population and availability of devices are said to be driving their use. Meanwhile, in the US, the salon and spa industry is said to be propelling beauty device use as salons strive to offer better services to their customers.
In Europe, the beauty devices market is driven by a rising ageing population. In addition, in Spain the market is evolving due to an increased awareness about the potential healing applications of beauty devices in the treatment of skin and hair problems.
However, in Asia the growth for beauty devices is much higher than developed countries due to increasing disposable income, availability of multinational brands and the introduction of less expensive beauty devices.
