According to a report by award-winning market research solution, Reportlinker, the beauty devices market in Europe is anticipated to reach AUD $30,182.46 million in 2027 – a significant increase from AUD $12,551.06 million in 2019.
The report found that the beauty devices market is growing primarily due to “changing consumers' psyche towards beauty and wellness with a rising geriatric population, and increasing prevalence of skin and hair problems in the Europe region that are boosting the market.”
Italy and Germany are among the countries with higher ageing populations, which is one of the major factors driving the beauty devices market in Europe.
“Obsession with appearance has significantly increased the demand for beauty and skincare products across the world,” the report reads. “Premium beauty brands are now offering additional services, such as skin diagnosis, at their outlets to attract customers. Even big beauty corporates have been keen to showcase their tech savvy in the consumer beauty devices.”
Some popular consumer beauty devices include: Nu Skin® ageLOC® LumiSpa®, FOREO LUNA 3, Neutrogena Visibly Clear™ Light Therapy Spot Treatment, LUMISKIN™ Ava 2 in 1 Sonic Beauty Device, Panasonic Ionic Toning Device and Manicare Sonic Mini Rechargeable Facial Cleansing Brush.
According to the report, the beauty devices market is also expected to obtain “significant growth opportunities from growing urbanisation and the adoption of advanced lifestyle in women.” This is because there has been “a significant increase in the percentage of working women, which is anticipated to drive the sales of beauty devices and products at a significant rate.” Experts believe that with the increase of employment in women (leading to a rise in disposable income), there has also been a shift in lifestyle, leading to increased use of feminine products such as beauty devices by the working population.
On the other hand, the report notes that “restraining factors, such as undesirable side effects of beauty devices and availability of cheaper beauty products are likely to damage the growth of the market in the coming years.” When pitting this against all the other findings however, the report makes it clear that the positive growth of the beauty devices market is likely to prevail.
