Untapped Potential Exists in Asian Beauty Devices Markets, Finds
Untapped Potential Exists in Asian Beauty Devices Markets, Finds Kline
'Beauty Devices: Global Market Analysis and Opportunities' by global consulting and research firm Kline & Company
PARSIPPANY, NJ, July 11, 2013 - (ACN Newswire) - 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.
Kline will be sharing insights from the at-home beauty devices market within the high growth Asian region in a free webinar on Wednesday, July 31, 2013, 12:30 pm CST. (Details below)
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.
'Beauty Devices: Global Market Analysis and Opportunities' provides information on 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 purchase the Kline report, please go to http://www.klinegroup.com/reports/y705a.asp.
To register for the Kline webinar, please see https://klinegroup.webex.com/klinegroup/onstage/g.php?t=a&d=717453045.
Kline is a respected provider of world-class consulting services and high-quality market intelligence that consistently lead to client successes in growing or improving their business. We combine a distinctive package of consulting and research capabilities, global reach, and industry understanding that cannot be matched by our competitors. Our focus is on providing knowledge and solutions throughout the entire value chains of the industries we serve. For more information, please visit www.klinegroup.com.
Vera Sandarova Marketing Communications +420-222-33-00-13 Vera.Sandarova@klinegroup.com
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