The global at-home beauty devices market is slowing down after an extensive period of rapid growth with a CAGR of over 13% since 2012. While deceleration in the United States and Europe are key contributors to a slowing global market, Asia overtakes the United States to become the leading at-home beauty devices region in 2016.
Asia is a hub for many technology skin care innovations, as well as the home of key markets for beauty devices, such as China, Japan, and South Korea. China is leading the pack, registering a substantial increase in sales of 18%; however, South Korea should not be overlooked as it is a hotbed for innovations, especially when it comes to anti-aging devices.
The South Korean market is driven by anti-aging devices, supported by the growth of leading brands, such as TRIA, ReFa, Envely, and NuFACE, which experience strong increase in sales through home shopping networks. Wearable LED mask brands register a sales upsurge, particularly from local marketers. An increasing number of marketers have launched LED masks, including Milux and AHC, among others. Price points for these products range from $150 to upwards of $1,000 each.
Anti-aging devices are not only prevalent in South Korea, but also rank highly in China with sales soaring by 33%. This is not a surprise as our recently published Beauty Devices: Global Consumer Insights report, where 1,300 women across key markets for beauty devices were asked to describe their attitudes, usage, and perceptions towards these products, shows that women in China are very concerned about aging and more inclined to use a device than any other country examined. Of the 76% of women who said they have aging concerns, nearly 50% of them use devices. In terms of overall aging concerns, most expressed skin tone as the key issue.
Hair removal products is another strong area in China. Sales growth for these products is upwards of 100%, which is in stark contrast to nearly flat sales for the segment in Japan. Local brands lead the way in China with Kingdom, Ya-Man, and ReFa each growing by strong rates.
Although China presents a high level of potential, a few background facts should be noted about the Asian market. The Japanese beauty devices market is nearly three times the size of China’s market, as well as a more saturated market. For that reason, many local marketers have started to refocus on other businesses, as well as other countries. Of the skin care concerns, anti-aging and cleansing seem to have the most traction. As for South Korea, it is still a hotbed of growth. Blockbuster sales growth is recorded for multinational brands—namely Foreo and NuFace—in 2016. Contributing factors include a successful partnership for NuFace with home shopping networks GS Shop and Hyundai. Category sales through these channels grow by about 20% for the year!
To learn more about this innovative market, attend Kline’s presentation covering Beauty Devices Market Trends and Consumer Insights in Asia at Cosmoprof Asia.