Pedicure Unit Market is Estimated to Witness High Growth Owing to Immense Demand for DIY Pedicures1/2/2024 The pedicure unit market comprises equipment used to clean, trim, file, and polish toenails. These units are built with compact designs that allow simple and convenient use from the comfort of one's home. Growing awareness about self-grooming and the rising popularity of do-it-yourself pedicures have significantly boosted the demand for pedicure units. Their swift-drying formulation helps prevent bacterial/fungal infections and keeps feet moisturized.
The global pedicure unit market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity The immense popularity of DIY pedicures, especially amid women, presents lucrative opportunities for players in the pedicure unit market. Many modern women prefer grooming their feet at home over visiting salons due to convenience and affordability advantages. Home pedicures allow them to cleanly remove dead skin, trim nails, and moisturize feet with these multi-functional units without spending extra time or money. Manufacturers introducing innovative product features catering to DIY requirements, such as swift-dry polishes and automatic filing modes, are well-positioned to gain from this opportunity. Efforts to strengthen online/retail distribution networks in key regions can further help companies tap the rising demand. Porter’s Analysis Threat of new entrants: The pedicure unit market offers opportunities for new entrants due to increasing demand and technological advancements. However, established brands have strong brand recognition and distribution networks that make entry difficult. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity. Buyers can negotiate on price and demand product innovations. Bargaining power of suppliers: A few large suppliers exist for key components giving them some power over price and availability. Suppliers of innovative materials can negotiate better deals. Threat of new substitutes: Substitutes include salons, spas and DIY solutions. However, pedicure units offer convenience without dependence on service professionals. Competitive rivalry: The market has several regional and global brands competing on features, design and price. Intense competition forces continual improvements. SWOT Analysis Strength: Pedicure units offer hygienic and convenient solutions for self-care. Technological innovations enhance functionality. Weakness: Higher prices than salon services limits market. Quality issues in some lower priced offerings affect branding. Opportunity: Growing health and beauty consciousness drives self-grooming. Ageing population increases pedicure needs. Untapped rural markets exist. Threats: Economic slowdowns lower discretionary spending. Strict regulations raise compliance costs. Supply chain disruptions impact availability. Key Takeaways The Global Pedicure Unit Market Size is expected to witness high growth on account of rising health awareness and busy lifestyles. Innovation in pedicure unit designs that offer salon-like experiences at home drives demand. The growing elderly population prone to foot issues also contributes to market growth. Regional analysis: North America dominates due to high disposable incomes and self-care spending. However, Asia Pacific is poised to grow the fastest during the forecast period led by China, India and other developing countries. Rising affluence and influence of Western beauty trends fuel massive gains. Key players: Key players operating in the pedicure unit market are Mahindra Electric Mobility Limited, Saera Electric Auto Pvt. Ltd., Telco E-Vehicles Pvt. Ltd., Gamma Industries, Knox Fuels Tech, Yuva E-Rickshaw, ATUL Auto Limited, Bajaj Auto Limited, J.S. AUTO (P) LTD., Speego Vehicles Co Pvt Limited, Dilli Electric Auto Pvt. Ltd., NDS Eco Motors Private Limited, Goenka Electric Motor Vehicles Private Limited, Sarthak Industries, Perfexorld, V.H.V.O Industries Pvt. Ltd, Mini Metro EV LLP, Pariti, Kinetic Green Energy & Power Solutions Ltd., A G INTERNATIONAL PVT LTD. Get more insights on this topic: https://www.marketwebjournal.com/pedicure-unit-market-share/
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