Market Insights Consumer Beauty & Personal Care

Beauty Tech - G20

In 2024, the revenue generated in the Beauty Tech market reaches a substantial amount of US$6.57bn.
This market is projected to experience an annual growth rate of 4.48%, also known as the compound annual growth rate (CAGR), from 2024 to 2029.
When comparing the Beauty Tech market globally, it is worth noting that in the United States leads the way in terms of revenue generation.
In 2024 alone, in the United States is expected to generate US$1,411m in revenue.
To put this in perspective, when considering the total population figures, the per person revenue generated in 2024 amounts to US$1.86.
This indicates the average amount of revenue generated by each individual in the Beauty Tech market.
It is important to mention that these numbers and insights are applicable to the G20 countries, which are the world's major economies.
The Beauty Tech market plays a significant role in these countries' economic landscape.
In Japan, the Beauty Tech market is dominated by innovative skincare devices and virtual beauty consultations.

Key regions: Canada, Indonesia, India, United States, South Korea

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.