Flood of New Beauty Device Launches
APR's Sales Surge Last Year
Home Shopping and E-Commerce Sales Boom
Beauty Device Market Grows at 35% Annually
As the global beauty device market rapidly grows, new products are being launched one after another. APR, the leading player in the domestic beauty device market, achieved significant success in the U.S. market last year, prompting many latecomers to enter the field. Given the high growth potential of the beauty device market, competition within the related industries is expected to intensify further.
According to industry sources on the 3rd, Amorepacific will launch the 'Skin Light Therapy 3S,' which was showcased last month at the world's largest electronics and IT exhibition, CES2025, on the 5th. This product is a device integrated with the company's independently developed 'Artificial Intelligence (AI) Skin Analysis and Care Solution,' utilizing LED light and microcurrents to accurately diagnose skin conditions and provide customized solutions.
New Beauty Device ... Amorepacific's Rechallenge
Notably, Chairman Suh Kyung-bae made his first appearance at this CES to reinforce the beauty device business. Although Amorepacific was the first to introduce beauty devices in Korea 10 years ago, it did not achieve significant results. However, this year, the company has reorganized its beauty device business to make it a core growth engine.
At Home's home esthetic brand 'THOME' officially launched 'THE GLOW,' a droplet ultrasound device representing the 4th generation beauty device, on the same day. THE GLOW is a beauty device that THOME released after three years of preparation. It uses a method of rapidly alternating fine vibration energies at 3 MHz and 10 MHz frequencies, which are used in esthetic droplet ultrasound treatments, to penetrate deeply into the skin, providing effects such as radiance, hydration, and elasticity. During the pre-sale held on the 12th of last month through its own online mall, the 300 units prepared sold out within 15 minutes of opening, and an additional 50 units sold out within 2 minutes the following day.
Home beauty devices are home-use beauty equipment that allows users to manage their skin without visiting dermatology clinics, esthetic shops, or hair salons. Demand surged sharply during the COVID-19 pandemic when dermatology clinics and esthetic shops were closed. Unlike the initial launch period when prices were around 1 million KRW, recently, mid-range devices priced between 200,000 and 300,000 KRW have been released, gaining tremendous popularity among young people in their 20s and 30s. The recent high inflation and economic downturn, which increased demand for devices that allow skin care at home, have also contributed to this trend.
APR Eyes 1 Trillion KRW Sales This Year... U.S. Sales Double
This demand is also reflected in the performance of APR, the number one beauty device company in Korea. APR achieved record sales of 722.8 billion KRW last year, marking the highest sales ever. This represents a 37% growth compared to the previous year and nearly a threefold increase compared to four years ago. Beauty devices, accounting for 43.3% of total sales, recorded 312.6 billion KRW in sales last year, growing 44.6% year-on-year.
In particular, beauty devices maintained strong sales growth centered on the U.S., Japan, Hong Kong, and B2B (business-to-business) regions, ranking first in Amazon's beauty device category during Black Friday in the U.S. In the fourth quarter of last year, APR sold 580,000 units domestically and internationally, surpassing 100 billion KRW in sales and achieving the highest quarterly sales ever. APR holds over 30% market share in the domestic device market.
Notably, overseas sales are remarkable. Last year, APR's U.S. device sales exceeded 150 billion KRW, doubling the sales from the previous year. The proportion of overseas sales for APR last year was about 56%, a significant increase from 40% the previous year. This highlights the growth potential of K-beauty devices in the global market. APR has been focusing all efforts on global market expansion by participating in CES for two consecutive years as of last month.
Annual Growth of 35%... Beauty Device Market Blossoms
The beauty device market has maintained rapid growth. According to the 'Changes in the K-Beauty Industry' report by Samil PwC Management Research Institute, the domestic home beauty device market grew about 20 times from 80 billion KRW in 2013 to 1.6 trillion KRW in 2022. This growth trend is expected to continue globally. According to Euromonitor, the global beauty device market size is projected to grow from approximately 4.2 billion USD (about 6 trillion KRW) in 2023 to 34.8 billion USD (about 50 trillion KRW) by 2030, with an average annual growth rate of 35%.
In fact, domestic beauty device sales have been strong this year as well. Last month, Hyundai Home Shopping's beauty device-related sales increased by 83% compared to the same period last year. On Lotte Shopping's e-commerce platform Lotte ON, beauty device-related sales last month rose by more than 30% year-on-year. On the fashion platform W Concept, beauty device sales in the beauty category from the 10th to the 13th of last month surged by an astonishing 525% compared to the previous year. This growth rate is higher than that of makeup (165%), skincare (150%), and hair & body (230%).
In response, KT Alpha Shopping doubled the number of home beauty products launched last year compared to the previous year and increased the proportion of broadcast programming by about 15%. On the 16th of last month, it conducted the first-ever sale broadcast of Mediheal Age-R High Focus Shot on data home shopping (T-commerce). SK Stoa also sold the Mediheal Age-R (AGE-R) series through mobile live commerce broadcasts and TV shopping on the 19th. A beauty industry insider said, "We view the growth trend of the beauty device market very positively," adding, "Starting with expanding sales in the U.S. market after launching new products, we plan to expand business into overseas markets such as China in the future."
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