14/04/2024
Uncategorized

Heat Waves: Exploring Growth Trends in the Hair Dryer Industry

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The global hair dryer market size was valued at USD 8.54 billion in 2022 and is projected to grow from USD 9.01 billion in 2023 to USD 13.42 billion by 2030, exhibiting a CAGR of 5.87% during the forecast period.

Hair dryers are a hair styling equipment widely used by hair stylists across the world to dry wet hair and create several unique and elegant hairstyles. They are considered a staple product in the beauty sector, and several advanced technologies are being introduced in these devices to improve their performance. Manufacturers are launching energy-efficient models of hair blowers to become more sustainable and attract environment-conscious customers. These initiatives are expected to fuel the hair dryer market growth.

Fortune Business Insights™ displays this information in a report titled, “Hair Dryer Market, 2023-2030.”

List of Key Companies Profiled in the Report:

  • Conair LLC (U.S.)
  • Panasonic Holdings Corporation (Japan)
  • Koninklijke Philips N.V (Netherlands)
  • Dyson Limited (Singapore)
  • Tescom Co., Ltd. (Japan)
  • Spectrum Brands, Inc. (U.S.)
  • Revlon Inc. (U.S.)
  • Ghd Hair (U.K.)
  • Harry Josh Pro Tools (U.S.)
  • Havells (India)

Segmentation:

Corded Hair Dryers to Witness Robust Demand Due to Their Attractive Features

Based on type, the market is segregated into corded and cordless. The corded segment is estimated to dominate the hair dryer market share as they have features, such as powerful and consistent airflow, which decreases customers’ concerns about battery life.

Individuals to Increase Product Use Due to Their Convenience

In terms of application, the market is segmented into individual and professional. The individual segment is expected to dominate the market as hair dryers find major use in households. Individuals extensively use hair styling devices to enhance their aesthetic appearance and create elegant hairstyles.

Customers to Buy Hair Blowers from Specialty Stores Due to Availability of High-Quality Products

Based on distribution channel, the global market is divided into offline and online. The offline segment is anticipated to capture the largest market share as specialty stores offer high-quality haircare products at affordable prices. Customers can also physically inspect the overall quality of hair blowers before making a purchase decision.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report studies the market in detail and focuses on critical aspects, such as leading product types, application areas, top distribution channels, and prominent market players. It also provides key insights into the top industry developments and latest market trends. Besides the factors mentioned above, the report covers many other factors that have contributed to the market’s growth in recent years.

Drivers and Restraints:

Increasing Setup of Professional Hair Salons to Fuel Market Growth

Large-scale urbanization and industrialization have boosted the construction of hair salons in developed and developing nations, such as India, China, Japan, Brazil, and the U.K. Many customers are looking for high-quality hair styling and care solutions, which has also accelerated the establishment of professional salons. These factors are expected to amplify the market progress.

However, growing sales of fake hair styling products can hamper market growth.

Regional Insights:

Europe to Dominate Market Due to Growing Customer Inclination Toward Western Lifestyle

Europe held a dominant share in the global market in 2022 as customers across the region are increasingly adopting western lifestyle habits to boost their quality of life. Moreover, the demand for eco-friendly and energy-efficient hair blowers has also grown considerably across Europe, which will further bolster the regional market growth.

North America is also expected to showcase commendable growth in the global market due to factors, such as evolving fashion & beauty trends, changes in weather conditions, and rapid urbanization.

Competitive Landscape:

Increased Consumer Spending on Innovative Beauty Appliances to Strengthen Market Potential

Some of the key manufacturers in the market are integrating cutting-edge technologies into their products to enhance their performance & efficiency, and improve customers’ experience. They are launching hair dryers equipped with advanced features, such as automatic shut off, heat sensors, and Bluetooth connectivity to increase customers’ convenience while using them. Such novel product launches will help the market players cement their market positions.

Notable Industry Development:

  • November 2020 – Revlon, a U.S.-based cosmetics brand, introduced a brand-new version of its One-Step Hair Dryer & Volumizer equipped with innovative user-friendly features.

Reference Link:

https://www.fortunebusinessinsights.com/hair-dryer-market-106228

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