Nail Art Printer Market – Above-average Growth Despite High Threat of Alternatives
The nail art printer market has been fast-penetrating into commercial as well as residential spaces, given the growing preference among women for beauty and personal care products. Nail art experts look at a nail art printer as a profitable investment, as these systems can print designs faster as compared to a nail artist, which can help them cater to a large number of consumers.
The growing influence of social media platforms is nurturing the bond of women with fashion and beauty aficionados, which helps in driving awareness about new beauty-oriented technologies. Besides this, increasing self-consciousness regarding personality and looks in this image-centric age is likely to drive more women towards being direct or indirect customers of the nail art printer market.
Though the Internet has been making strides in even the remotest of the locations, developing and underdeveloped regions remain untapped, owing to little or absence of knowledge regarding nail care products. Besides this, extant nail art products such as acrylic sets of nails and artificial nails are already resonating well with women, which could overshadow the popularity of novel printers. To add to that, with nail art printers being cost-prohibitive in nature, 3D graphic nail stickers could impede their penetration, especially in cost-sensitive regions.
Analyzing the changing dynamics, analysts of Transparency Market Research (TMR) estimate that, the nail art printer market will grow to a value tantamount to ~US$ 645 Mn in 2019.
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Consumers find Offline Sales Channel More Trustworthy for Purchasing Expensive Products
Smartphones and tablets have handed over the ‘shop anything, anywhere, anytime’ liberty to consumers, which will drive massive sales through online sales channels. However, the convenience of online shopping isn’t yet impactful enough to completely spell the doom of brick-and-mortar stores. While consumers opting for an e-Commerce experience are proliferating at an exponential rate, it doesn’t necessarily push retail sales to the edge of extinction.
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Consumers still prefer the practical benefit of inspection offered by physical stores when it comes to purchasing expensive products. Such consumer behaviors are likely to drive exponential sales through online distribution channels, while offline sales channels, including electronic stores and specialty stores, are likely to account for three-fifth of the sales in the nail art printer market in 2019.
Why an Investment in Europe Market is Worth High Returns
The nail art printer market in Europe is projected to grow from a value of ~US$ 232 Mn in 2019 to ~US$ 420 Mn by 2027. Among others, Italy and the United Kingdom are home to numerous market players who constantly strive to push the envelope of beauty products to reap sales through the impulsive buying behavior of consumers. The introduction of products with enhanced ease and value-added features, such as instant print, is well-appreciated by consumers leading a demanding lifestyle. This creates a huge consumer base for the landscape, and the growing focus of market players towards the development of ultra-portable intelligent electronic devices will further foster a new trend of smart-sizing in the European nail art printer market, for other regional market to follow the suit.
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Nail Art Printer Market: Overview
- According to Transparency Market Research’s latest market report on the nail art printer market for the period of 2019–2027 (wherein, the period from 2019 to 2027 is the forecast period and 2018 is the base year), increasing number of nail salons and the growing trend toward attractive nail colors & designs are expected to drive the nail art printer market.
- Globally, revenue generated by the nail art printer market accounted for ~US$ 610 Mn in 2018, which is projected to expand at a CAGR of ~7% in terms of value throughout the forecast period.
Nail Art Printer Market: Changing Lifestyles a Key Driver
- The growing adoption of Western lifestyle has supported the growth of the nail art and nail art printer market. Nowadays, women have more exposure to the beauty and fashion industry due to technological advancements. Hence, most women concentrate on their personality and looks because of social influence. People want to try nail art and make a fashion statement in the crowd.
- Moreover, women are becoming independent and investing a higher proportion of their income on grooming and looking presentable.
- Furthermore, extensive usage of social media platforms such as Facebook and Instagram have fueled the use of nail art techniques, globally. These factors are expected to drive the demand for nail art printers during the forecast period.
Nail Art Printer Market: Development of New Technology – Market Opportunity
- Innovation and technological advancements of printing technology, such as 3D and HD printing of nail art printers, is expected to create favorable opportunities in the market. The creative ways to decorate, paint, enhance, and embellish nails have fueled the nail art printer market.
- Nail art printers are a revolutionary technology in the beauty industry. The growing preference for nail art, currently, is because it adds beauty to one’s personality, thus, leading to increased usage of nail art printers. This is anticipated to create lucrative opportunities for manufacturers of nail art printers in the near future.
- The nail art printer market is still untapped in South America and the Middle East & Africa. Manufacturers of nail art printers have huge opportunity to cater to the untapped markets in these regions.
High Cost of Nail Art Printers a Major Barrier to Growth
- The high cost of nail art printers is a major issue, especially in emerging economies. Hence, heavy expenditure on the maintenance of nail art printers and high pricing of nail art printers are a major barrier.
- Affordability is considered as one of the major challenges for the growth of the nail art printer market in developing countries, especially in the Middle East & Africa.
Nail Art Printer Market: Competition Landscape
- Detailed profiles of manufacturers of nail art printers have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
- Key players operating in the nail art printer market include
- Amy Beauty Equipment
- Auto Nail
- Create Beauty Technology Company Limited
- Funai Electric Co., Ltd.
- Guangzhou Taiji Electronic Co., Ltd.
- Koizumi Seiki Corporation
- Nailgogo
- Qingdao Magnetic Digital Co., Ltd.
- Shenzhen Tuoshi Network Communications Co., Ltd.
- Yinghe Electronic Instruments Co., Ltd.
Nail Art Printer Market: Key Developments
- Prominent manufacturers in the nail art printer market are increasing investments on research & development activities to undertake advancements in technologies to fulfill the demand in the market. Manufacturing companies are also planning to expand their presence in various geographies through mergers & acquisitions and tie-ups with distributors and retailers.
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Some other key developments in the nail art printer market are as follows:
- Funai Electric Co., Ltd. is expanding its product portfolio by introducing innovative products to enhance its customer base. The company introduced a new nail art printer that was displayed along with other latest health & beauty products at CES 2019. The product won the CES Innovation Award.
- Furthermore, various manufacturers of nail art printers are trying to expand their customer base by collaborating with distributors to extend their sales network overseas.
- Nailgogo recently launched a 3D digital nail art printer that can be controlled by a mobile through wireless technology.
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