The Asia-Pacific beauty devices market is expected to grow at a CAGR of 21.1% during the forecast period with its market size predicted to reach USD 36.9 billion by 2024. The high growth in the personal care industry, high prevalence of skin disorders, increasing prevalence of hormonal disorders are the primary growth drivers for the Asia-Pacific beauty devices market. Additionally, increasing awareness for the personal and beauty care in the region and increasing geriatric population are also supporting the growth of the beauty devices industry in the region.
Skin disorders as acne, wrinkles and others are more prominent in older population. Older population are getting more aware regarding the benefits of beauty devices, which leads to increased demand for these devices. According to the UNDESA report on aging population, in 2017, 228.9 million people in China and 42.5 million people in Japan were aged 60 years or above and this population is anticipated to increase to 478.6 million and 46.1 million by 2050.
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Also, with the increasing disposable income, the population in emerging economies are able to afford the premium devices for beauty care. For instance, as per the World bank data, the GDP per capita of India was USD 447.01 in 2001, which increased to USD 1,942.1 in 2017. Similarly, the GDP per capita of China was USD 1,053.11 in 2001 which increased to USD 8,826.99 by 2017.
Based on type, the market is categorized into cellulite reduction devices, hair removal devices, acne devices, cleansing devices, light/led therapy and photo rejuvenation devices, hair growth devices, oxygen and steamer devices, skin dermal rollers and others. Hair removal devices hold the largest share in the Asia-Pacific beauty devices industry due to the increasing awareness regarding hair fall and the availability of a wide range of hair removal devices, such as trimmers, clippers, epilators, and shavers.
The primary end users of beauty devices in the Asia-Pacific are beauty clinics, spas and salons, and at home users. Among all end users, the spas and salons account for the largest share of the Asia-Pacific beauty devices market size in 2018. The demand for beauty devices is anticipated to remain the largest in the spas and salons due to the large consumer base opting for personal and beauty care at spas and salons.
Geographically, China is the largest beauty devices market in the region owing to the aging population, high prevalence of skin diseases, and high disposable income. As per the World Bank, 6.91% population of China was aged 65 or above, and the percentage increased to 10.64% by 2017. This illustrates an increased demand for the beauty devices in the country.
Japan witnesses a high demand for premium products as the per capita income in the country is high, and the country has the largest proportion of older population globally. Th Indian beauty devices market is predicted to observe the fastest growth in the coming years among all the countries in the region. India is home to the largest young population, which makes India most lucrative market for industry players.
Some of the players operating in the Asia-Pacific beauty devices industry are Panasonic Corporation, L’Oreal SA, Photomedax Inc., Home Skinovations Ltd, The Proctor & Gamble Company, Koninklijke Philips N.V., Lumenis Ltd., Syneron-Candela, and TRIA Beauty, Inc.
Asia-Pacific Beauty Devices Market Coverage
Type Insight and Forecast 2014-2024
End-User Insight and Forecast 2014-2024
Asia-Pacific Beauty Devices Market by Country
Rest of Asia-Pacific