According to a recent report by the Kline Group, the sales growth for the beauty devices market in Asia increased by 29% in 2014. The data, culled from Kline’s latest report: “Beauty Devices: Global Market Analysis and Opportunities”, stated that this increase outpaces the United States and Europe, growing higher than the industry average.
New product launches, explained Kline, have been common in Asia, and has helped fuel overall sales growth. Further, the company said that a large number of the newly launched devices in China target skin cleansing.
In addition to the new product launches, Kline also said that sales growth can also be attributed to local marketers expanding their distribution channels, with some going beyond traditional outlets by entering fitness facilities, as well as popular online shopping platforms in China and South Korea.
A third highlight from the report suggested that sales have also been helped by established skin care brands launching devices to compete with electronic beauty gadgets that increase the efficiency of their existing skin care lines. Meanwhile, beauty device brands have begun to launch topical skin care products to sell together with devices.
“Each market in Asia carries its own nuances,” said Prashant Sharma, project manager for the report series at Kline. “In terms of sales of devices by skin care concern, the differences are dramatic, with anti-aging being a key concern in South Korea, cleansing in China, and hair removal in Japan.”
Sharma went on to explain that with the entrance of new global players to these markets and the introduction of a variety of new products, this landscape is changing. For example, he said that the cleansing segment in South Korea nearly tripled in size in 2014.
The Kline report also noted that local brands in Asia represent sustainable competition to multinational brands with many introducing appealing new products that are filling the void of the lower-priced segment, in order to target younger consumers. Kline likened this approach to what it said is the successful strategy of La Lumiere’s illuMask in the U.S., which has an SRP of $30.