Europe Beauty Devices Market – Analysis and Forecast (2019-2024)

1. Europe Beauty Devices Market

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3. Europe Beauty Devices Market 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 European beauty devices market is primarily driven by factors such as aging population, high prevalence of skin disorders, and high awareness in the region for beauty and personal care. Also, the adoption of premium devices and high disposable income in the region also support the growth of the market. hair removal devices, acne devices, cleansing devices, light/led therapy and photo rejuvenation devices, cellulite reduction devices are the major contributor to the beauty devices industry in the region.

4. Europe Beauty Devices Market The aging population, high disposable 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 European beauty devices industry. European countries are among the leading countries in terms of per capita income. This illustrates the high affordability of beauty devices by the consumers in the region. 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.

5. Europe Beauty Devices Market Geographically, Germany is the largest beauty devices market in Europe primarily due to its high disposable income, high awareness among consumers, the robust economy of the country. 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 presence of a large number of industry players, investment in research and development for better treatment options and consumer willingness to pay leads to the highest growth in the French beauty devices industry. 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.

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