Untapped Potential Exists In Asian And European Beauty Devices Markets, Finds Kline
PARSIPPANY, N.J., Feb. 13, 2013 /PRNewswire/ -- With the Chinese market boasting nearly 100% growth in 2012 and double-digit growth seen across all surveyed regions, the largely under-penetrated but booming at-home skin care devices market suggests even greater opportunity for growth, finds recently published Beauty Devices: Global Market Analysis and Opportunities by global consulting and research firm Kline & Company.
The Chinese market's extraordinary gain is partly attributed to the aggressive growth of market leader Nu Skin, which, fueled by the expansion of the number of its representatives in 2012, registered gains of over 100% for its Galvanic Spa device. Similarly, the entry of Procter & Gamble's Olay Pro-X and SKG in China further stokes market growth. Even more encouragingly, the Chinese at-home beauty devices market is still in its infancy and generally falls into two basic, but disparate price groups with price points ranging from $20.00 to $300.00, with the latter reflecting the country's increasing affluence. Beyond China, with its anti-aging device Galvanic Spa, Nu Skin dominates one-third of the South Korean market.
Karen Doskow, Kline's Consumer Products practice industry manager, notes, "The Asian market in particular is still essentially nascent, and many multinational companies are only now entering the market. Yet Asian OEMs are already serving the global market through parts manufacturing or producing private-label products for other companies, such as South Korea's Lotts manufactures devices for the Schick Medical's German SQOOM device."
Although many major international brands operate pan regionally, overall brand success differs from region to region. While Nu Skin leads the market in China and South Korea, seven of the top ten brands in China are local in nature. In South Korea, second place is held by local Lotts with over 13% of domestic market share. Japanese brands Ke-Non, Ya-Man, and ReFa are claiming just about one-third of the market share in Japan. The European market is also being shaped by regional brands, such as the leader in permanent hair removal, Lumea, by the Dutch-based Phillips, and the anti-aging device SQOOM by Germany's Schick Medical.The United States retains its global market share lead with growth nearing 20% in 2012, driven by new product launches from existing marketers, such as Nu Face, BelleCore, and Tria, in addition to new players like University Medical, with its well received anti-aging WrinkleMD Eye entering the fray. Blockbuster brand Clarisonic continues to deliver high sales growth with the support of its new parent company, cosmetics giant L'Oreal. "Convenience and a certain economic rationalism are motivating consumers to bring home the beauty experience traditionally provided by estheticians or physicians," continues Doskow. "It's a large and growing phenomenon, with at-home beauty devices offering multiple benefits a notable driving force. Presently, there are few truly multi-functional devices on the market, but as is already the case in Asian markets, these will become the norm rather than the exception." Beauty Devices: Global Market Analysis and Opportunities provides information on this promising and hard-to-track consumer market, examining non-invasive forms of at-home skin care that mimic results that were once only achieved in spas or a doctor's practice. Devices covered include product categories such as acne elimination, cleansing, fine lines/wrinkle treatment, facial and body firming/toning, laser hair removal, microdermabrasion, and cellulite reduction. To learn more about the at-home beauty devices market, REQUEST a recording from the recently held webinar. About KlineKline is a worldwide consulting and research firm dedicated to providing the kind of insight and knowledge that helps companies find a clear path to success. The firm has served the management consulting and market research needs of organizations in the chemicals, materials, energy, life sciences, and consumer products industries for over 50 years. For more information, visit www.KlineGroup.com. For more information, contact:
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV