Global Household Beauty Appliances Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio

Technavio has announced its latest market research report titled global household beauty appliances market 2019-2023. (Graphic: Business Wire)

The global #householdbeautyappliances market size is poised to grow by USD 3 billion during the period 2019-2023, according to the latest #marketresearch report by @Technavio.

Evolving fashion trends are propelling the demand for beauty products and appliances, thereby raising fashion consciousness. These trends open new avenues for vendors to offer products as per market trends and consumer demand. In addition, vendors are also partnering with celebrities, especially from the fashion and entertainment industries, to promote the products. This has a significant impact on the sale of beauty products as consumers relate and emulate celebrities as their style icons. For instance, in India Koninklijke Philips hired Hindi film actor Alia Bhatt to endorse its KeraShine Hair Dryer and Styler. Thus, the evolving fashion trends and increasing fashion consciousness among consumers will drive the growth of the market.

As per Technavio, the introduction of smart household beauty appliances will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Household Beauty Appliances Market: Introduction of Smart Household Beauty Appliances

Growing demand for household beauty appliances and increasing use of smart and featured appliances have encouraged vendors to introduce more smart beauty appliances. These appliances are user-friendly, equipped with the latest features, and have aesthetically improved designs. Smart household beauty appliances also offer varied features enabling users to address various other beauty concerns using one device. For instance, Foreo launched the Foreo UFO, a smart mask treatment device. The device combines advanced dermal technology with Korean mask formula for proper treatment in seconds. The device is equipped with hyper-infusion technology in which it analyses the natural reaction to heat and cold of the skin. The introduction of such appliances will have a positive impact on the growth of the household beauty appliances market during the forecast period.

“Other factors such as the introduction of multi-functional products and the increasing popularity of gender-specific products will have a positive impact on the growth of the household beauty appliances market during the forecast period,” says a senior analyst at Technavio.