The combination of cosmetics with the latest technology has seen major advances in the skin care market in recent years. Here, we’ve rounded up how the segment has evolved in 2013.
From technology that measures hydration, advanced sensors, lights and cameras, to 3D and 4D focus - cosmetic manufacturers have been working to develop the most advanced and affordable skin care devices for consumers to take home.
This year many a beauty giant invested in the segment and devices catering to daily skin care routines like cleansing and moisturizing set the highest bar in terms of consumer preference.
According to market researcher Kline, the at-home beauty devices market grew 22% last year and still holds a great deal of potential for the future too thanks to demand from anti-aging, toning and other skin care categories.
Likewise, despite the global economic downturn, the researcher reveals consumers are still managing to justify the expense of a beauty device because longer-term projections for savings on other beauty products and treatments can make such a purchase justifiable.
“Technology has democratized beauty outcomes which were previously unaffordable and explains why 70% of women would like to own a new beauty device,” Kline's analysts state.
Brands now realising how lucrative the segment is...
The market is currently 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.
Unilever recently completed an agreement with Syneron Medical to create a range of at-home beauty devices in an 'Iluminage Beauty’ venture that is set to leverage Unilever's global experience in the development and marketing of consumer beauty products.
The personal care giant also invested a stake in French cosmetic brand ioma, whose expertise lies in analysing the condition of the skin and developing appropriate treatment devices to cater to the result in November.
Elsewhere; Panasonic is recommending Shiseido cosmetic products to use with its devices, and the mutually beneficial ventures combine the traditional and proven, with the latest skin care technology.
This could also see L’Oréal use its purchase of Clarisonic in a similar way, and could even see more mergers and acquisitions activity as large established marketers acquire smaller marketers to gain market share.