Thebeauty tools industry size is growing sharply as people become more concerned about their looks and wish to appear healthy, attractive, and young. High demand for beauty tools is majorly associated to their ease of use, faster operation, and enhanced automation attributes.
It examined these responses in a research report titled, “Beauty Tools Market, 2023-2030.”
Rising Penetration of Digital Campaigns Triggers Investment
The increasing number of promotional activities and campaigns by brands to promote awareness about tools and technology has fueled the demand for products. With their tutorial and training on online platforms, makeup artists and influencers have also contributed to the rise in demand for the product by attracting customers’ interest in creating their customized routines at home. Meanwhile, the beauty tools market growth is likely to be hampered by a lack of expertise in using beauty tools, particularly among home users.
Growing Consumer Demand for Fashion Tools and Accessories Spurs Growth in North America
North America is expected to witness a significant rise in the beauty toolsmarket sharedue to high distributional channels. Furthermore, there has been a surge in demand for fashion tools and accessories in the region due to the growing impact of popular culture on young people and adults. The high technological advancements in beauty and makeup tools have surged the product demand in the region.
The Asia Pacific is projected to experience a substantial increase due to growing consumer demand for equipment for regular styling needs. Moreover, strong demand for haircare and tweezers across China and India empowers digital trade in the marketplace.
Leading Companies Focuses on Partnership to Boost Portfolios
Leading companies such as Gillette India Ltd launched three new razors with Flexball technology to gain a competitive edge. Major industry players are expected to invest in product launches, partnerships and mergers & acquisitions to get an additional lead.
Developments in the business include:
- September 2021: Gillette India Ltd. introduced the 3D Flexball technology razor, which can turn and twist with facial contours to style better and sharper.
- December 2020: Google joined hands with Perfect corp. and ModiFace to introduce an augmented reality framework which gives consumers a chance to try cosmetics products through the Goggle application.
A list of prominent companies in the market:
- Avon Products (U.K.)
- The Procter & Gamble Company (U.S.)
- Edgewell Personal Care (U.S.)
- Louis Vuitton LVMH (France)
- Estee Lauder Companies Inc., (U.S.)
- Shiseido Co. Ltd (Japan)