The European beauty devices market is expected to grow at a CAGR of 17.6% during the forecast period with its market size predicted to reach USD 22.9 billion by 2024. The increasing geriatric population, high per capita income, increasing awareness for the personal and beauty care, increasing prevalence of skin disorders, development of technological advanced hand-held devices are the primary growth drivers for the Europe beauty devices market. High disposable income and increasing awareness for beauty care are leading to the adoption of premium hair removal devices, acne devices, cleansing devices, light, led therapy and photo rejuvenation devices.
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High disposable income in the European countries illustrates high affordability of premium devices in the region, which creates huge traction among industry players for exploiting revenue growth opportunities. For instance, as per the World Bank data, the GDP per capita of Germany, France, U.K., Italy, and Spain, was USD 23,687.32, USD 22,433.56, USD 27,427.59, USD 20,400.81, and USD 15,323.61 respectively in 2001, which increased to USD 44,469.91, USD 38,476.66, USD 39,720.44, USD 31,952.98, 28,156.82 in 2017.
In addition to the adoption of premium devices by salons and spas, the development of hand-held devices has increased the demand for these devices by consumers for at-home use. These devices provide consumers the opportunity for beauty treatment at home and also leads to the reduction in overall cost of services incurred by them when getting treatment at spas and salons. However, the sluggish economic growth and stringent regulatory norms in the region are the key factors having a negative impact on the growth of the European market.
On the basis type of devices, the market is categorized into cellulite reduction devices, hair removal devices, acne devices, cleansing devices, light/led therapy and photo rejuvenation devices, hair growth devices, oxygen and steamer devices, skin dermal rollers and others. Among the various type of beauty devices, hair removal devices hold the largest share in the market due to the increasing awareness regarding hair fall and the availability of a wide range of hair removal devices, such as trimmers, clippers, epilators, and shavers.
The primary end-users of beauty devices in Europe are beauty clinics, spas and salons, and at home users. Among all end-users, the spas and salons are estimated to account for the largest share of the European beauty devices market size in 2018 and the demand for beauty devices is anticipated to remain the largest in the spas and salons. Also, with the technological advancements and development of premium hand-held devices, the demand for at-home beauty devices is expected to increase significantly during the forecast period.
Geographically, Germany is the largest beauty devices market in Europe primarily due to its high disposable income, high awareness among consumers, robust economy of the country, and high geriatric population. As per the World Bank, 16.47% population of Germany in 2000 and it increased to 21.45% by 2017. Germany is one of the largest consumers of premium beauty devices, with its population willing to pay for quality products.
France is predicted to observe the highest growth in the market among different countries in the region. The industry players are investing in research and development for better treatment options fuelled by the consumer willingness to pay. This leads to the high growth in demand for the beauty devices in the French market.
Some of the players operating in the European beauty devices industry are Panasonic Corporation, L’Oreal SA, Photomedax Inc., Home Skinovations Ltd, The Proctor & Gamble Company, Koninklijke Philips N.V., Lumenis Ltd., Syneron-Candela, TRIA Beauty, Inc., and Alma Lasers.
Europe Beauty Devices Market Coverage
Type Insight and Forecast 2014-2024
End-User Insight and Forecast 2014-2024
Europe Beauty Devices Market by Country
Rest of Europe