The global Pedicure Unit Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The pedicure unit market has witnessed significant growth over the past few years owing to increasing demand for cosmetic pedicure treatments. A pedicure unit is used to care for feet by softening skin and removing dead skin and calluses. It caters to both functional and aesthetic needs of customers by making feet softer, smoother and freshening them up. Pedicure units come equipped with various attachments like drill, buffer and nail file which facilitate deep exfoliation and enhance blood circulation for smoother feet. Their portable and compact nature allows easy mobility for both home and commercial use.
Market key trends:
One of the key trends in the pedicure unit market is growing demand for multifunctional products. Manufacturers are focusing on developing multi-functional pedicure units integrated with various massage rolls, spinning brushes and other attachments. For instance, Belava pedicure spa comes with 7attachments like rotating brush, body roller, interchangeable end caps. Such units provide spa-like pedicure experience through various massage options. Furthermore, increasing preference of males for pedicure treatments is contributing to the market growth. Availability of slim built, portable units in neutral colors and designs tailored for male customers is aiding the adoption of pedicure units among male consumers.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up a pedicure unit manufacturing company requires significant investment and resource allocation. However, availability of cheap labor in developing regions can attract new companies at lower costs.
Bargaining power of buyers: The bargaining power of buyers is high since pedicure unit is not a highly technical product and there are numerous established brands in the market. Buyers can negotiate on price easily.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw materials required for pedicure unit manufacturing are standard and abundantly available. Multiple supplier options are present.
Threat of new substitutes: The threat of substitutes is low since pedicure unit has no close substitute and essential for all spas and salons.
Competitive rivalry: Intense competition exists among established brands to gain market share by launching innovative product features and competitive pricing.
Key Takeaways
Global Pedicure Unit Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing number of salons and spas globally. The market stood at US$ 1.29 billion in 2023.
North America dominated the pedicure unit market in 2023 and is expected to continue its dominance over the forecast period. This can be attributed to strong presence of key players and rising disposable incomes in the region facilitating the usage of premium spa services.
Asia Pacific is expected to exhibit highest CAGR during the forecast period due to growing middle class population, rapid urbanization and increasing expenditure on personal grooming in countries like China and India.
Key players operating in the pedicure unit market are Belava, Lexor, Luraco, Gharieni, Living Earth Crafts, Smock Spa, Gamma & Bross, Kalopi, Bows Beauty, Shedrain. These established players are launching innovative product features to meet the changing consumer demands and strengthen their market position.
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