APR(278470) is leading the domestic home beauty device market, but latecomers are gaining ground. Not only traditional cosmetics giants such as LG H&H(051900) and Amorepacific(090430), but also startups like AtHome are standing out. As beauty device prices have generally fallen and products and functions have diversified, competition among companies is expanding.
According to the industry on the 2nd, the home appliance company AtHome has recently been ramping up its beauty business in earnest, fronting the home beauty brand "THOME." Founded in 2018, the company grew its revenue from about 6 billion won in the early days to 150 billion won last year. In the first half of this year, it surpassed 100 billion won in revenue, continuing its growth. It set an annual revenue target of 300 billion won.
AtHome, led by Chief Executive Yang Jeong-ho, born in 1993, grew with the small appliance brand "MINIX," which sells mini dryers and food waste disposers, and entered the home beauty device market in 2024 by unveiling THOME. THOME is focusing on products that bring to the home the droplet ultrasound technology used in dermatology clinics.
Though a latecomer, it quickly expanded its distribution network. THOME is the only beauty device brand participating in "K Beauty Edit," a curated display that CJ Olive Young is showcasing at Sephora in the United States. Since last month, it has been selling droplet ultrasound devices at about 580 Sephora stores in the U.S. and on the online mall.
The Sephora rollout came less than two years after THOME's debut. After entering Olive Young's U.S. online mall at the end of May, its signature product ranked No. 1 in sales for the longest period among about 400 brands and more than 5,000 products, then sold out. It also ranked No. 1 in the beauty device category on TikTok Shop in the U.S. Although it entered the domestic home beauty market late, it has steadily secured domestic and overseas beauty distribution channels such as Olive Young and Sephora, prompting the industry to watch AtHome's growth.
Compared with a few years ago, access to beauty devices has increased. Unlike the past, when high-priced products in the hundreds of thousands to millions of won dominated, more products in the 100,000 to 300,000 won range have recently appeared, easing the burden of purchase. Options have also diversified, from products that pack multiple functions into one device to those focused on specific functions such as elasticity, cosmetics absorption, and contour care. As more consumers have become familiar with dermatology procedures, demand to care for skin at home is also on the rise.
Market leader APR is also continuing to expand the scale of its beauty device business. APR's beauty device revenue grew from 120.1 billion won in 2022 to 407 billion won last year, more than tripling in three years. Early this year, the global cumulative sales of "Medicube Age-R" surpassed 6 million units.
Recently, it has been segmenting its product lineup. Following the existing "Booster Pro," it rolled out new products such as "Booster Pro X2" and "Hi-Focus Shot Plus," which applies high-intensity focused ultrasound (HIFU) technology. It is expanding products by function, including cosmetics absorption, skin elasticity, and contour care.
It is also pushing to enter the professional beauty device market used at medical institutions such as dermatology clinics, beyond home use. It plans to promote its products and technology to domestic clinics and medical staff and use the recognition secured in the professional market to target overseas markets later.
In particular, overseas markets such as Europe and Japan are seen as more conservative than Korea in consumer perception of home beauty devices, and there are high hurdles to clear, including country-specific regulations and securing distribution networks. APR plans to build trust locally by widening its lineup from home-use to clinic-use beauty devices and to expand its overseas business step by step.
Traditional cosmetics companies are also putting renewed weight behind beauty devices. LG H&H took over the home beauty device brand "PuriCare Pra.L" from LG Electronics last year and is operating it directly. Since then, it has pursued a strategy linking its existing cosmetics business with beauty devices, introducing a galvanic booster priced in the 100,000 won range and dedicated cosmetics.
Amorepacific is reinforcing the beauty device brand "MakeON." Last year, it unveiled the mask-type beauty device "On:Face," which uses more than 3,700 micro LEDs. Priced in the high 1 million won range, it targets premium demand, contrary to the recent market trend of increasing products in the 100,000 to 300,000 won range.
According to Meritz Securities, the global beauty device market is expected to grow from about 7 trillion won in 2024 to 45 trillion won in 2030. The compound annual growth rate is 36%. In particular, the U.S. market is expected to grow from 190 billion won in 2023 to 970 billion won in 2030.
The domestic market is also expected to continue growing. Global market research firm Expert Market Research (EMR) estimated last year's Korea beauty device market at about $1.5 billion (about 2.1765 trillion won). By 2035, it is projected to expand to about $5.46 billion (about 7.9225 trillion won).