Global Beauty Tools Market is estimated to be valued at USD 97,882.1 Million by 2025, registering a CAGR of 17.40% during the forecast period. Beauty tools aid to enhance the appearance of a person. The internet has helped in spreading awareness about fashion and beauty treatments, in both urban and rural areas. As the adoption of e-commerce platforms is growing and its geographic reach is expanding, this provides an option for the people to buy such products even from places where there is no availability of retail beauty stores. E-commerce platforms have attracted the audience from all spectrums of classes and regions, which has boosted the sale of beauty tools and devices over the last couple of years. Product innovation in beauty tools is expected to create immense growth opportunities for market players in the coming years.
North America constituted a dominant share of the beauty tools market in 2018 owing to the expansion of the product portfolio of cosmetic tools by the key manufacturers. The US followed by Mexico are among the lucrative markets for manufacturers in the region. Regular product launches followed by expansion, merger and acquisition plans of market players have further boosted the sale of beauty tools in North America. The market in Asia-Pacific is projected to exhibit the highest CAGR during the review period. China accounted for the largest share of the Asia-Pacific beauty tools market in 2018 and is expected to retain its dominance during the review period. Other factors such as increasing per capita disposable income of consumers have led to an increase in the sale of cosmetic tools. Also, direct selling brands retain strong shares in Asia-Pacific countries, including India, Australia, Japan, through wide distribution networks with reputable brand images.
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Key Findings of the Study
- The Global Beauty Tools Market is expected to register a growth rate of 17.40% from 2019 to 2025. The emergence of beauty and makeup tutorials and high influence of social media and brand endorsements are projected to propel the growth of the global beauty tools market.
- The hair care segment is estimated to retain its prominent share by 2025. The trimmers segment is expected to register a growth rate of 19.79% during the forecast period.
- The household segment is estimated to retain its prominent share by 2025. The commercial segment is estimated to register the highest growth rate of 18.59% during the forecast period.
- The store-based segment accounted for the largest market share in 2018 and is expected to grow at a rate of 17.07% during the forecast period.
Global Beauty Tools Market has been segmented on the basis of Type, End-Use, Distribution Channel, and Region.
By Type, the market has been divided into hair care, razors, trimmers, brushes &, combs, manicure & pedicure tools, tweezers, sponges & puffs, and others. Haircare type is further bifurcated into hairdryers, curling irons, straighteners & flat irons, and others. Manicure & pedicure tools are further sub-segmented into nail cutter, cuticle pusher & nipper, nail file, and others. The hair care segment accounted for maximum market share in 2018, whereas the trimmers segment is expected to register the highest CAGR of 19.79% during the forecast period. The increasing trend for personal grooming is set to propel the growth of this segment. The manufacturers are expanding their geographic reach to expand their market foothold. For instance, in June 2019, Xiaomi launched a trimmer for men in India. Such strategies employed by companies is set to propel the growth of this segment during the assessment period.
By End Use, the market has been divided into household and commercial. The household segment accounted for the largest market share in 2018. Increasing consumer base opting for innovative and advanced beauty tools is driving the growth of the household segment. Furthermore, the availability of tools and ease of access in developing nations is also fueling the growth of the segment. However, the commercial segment is estimated to register the highest CAGR of 18.59% during the forecast period. Salons and spas use beauty tools for commercial purposes. The beauty services are decoupling from the traditional spas and salons. This pushes the demand for new products by consumers to maintain their position in the industry.
Based on the distribution channel, the global beauty tools market has been classified into store-based and non-store-based. The store-based segment accounted for a larger market share in 2018. Consumers prefer store-based channels as they offer a one-stop shopping experience. Besides, technological advancements in the e-commerce industry are fueling the growth of the non-store-based segment. This segment is projected to register a higher CAGR during the forecast period.
Geographically, the global beauty tools market has been categorized into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America dominated the market, accounting for the largest share in 2018. The European beauty tools market accounted for the second-largest market share in 2018. Whereas, Asia-Pacific is projected to register the highest CAGR of 18.54% during the forecast period.
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Market Research Future recognizes The Procter & Gamble Company (US), Estée Lauder Companies Inc. (US), L’Oréal SA (France), Shiseido Co. Ltd. (Japan), Coty, Inc. (UK), e.l.f. Cosmetics, Inc. (US), Avon Products, Inc. (UK), Paris Presents Incorporated (US), Moët Hennessy – Louis Vuitton (LVMH) (UK), and Edgewell Personal Care (US) as the key players in the global beauty tools market.
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