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The hair care appliances market size is projected to increase by USD 2,740.34 million and the market size is estimated to grow at a CAGR of 5.52% between 2022 and 2027. In 2017 the size of the market was valued at USD 7,708.15. The rise in the number of fashion-conscious consumers is driving the global hair care appliances market growth. The retail landscape of the global beauty and personal care sector is changing rapidly as per evolving consumer demographics and lifestyles. Some of the key factors that have changed the beauty and personal care industry over the years globally include rising urbanization, personal grooming concerns, and fashion consciousness.
As millennials are technology-driven and are updated about new fashion trends and new product launches across distinct categories of beauty and personal care products, they significantly contribute to the market share of the beauty and personal care industry after the baby boomers. Thus the above factors can significantly drive the global hair care appliances market during the forecast period.
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Social media plays an important role in increasing awareness of the availability of a wide range of high-end hair care appliances. There is a rise in the adoption of social media by vendors for promotional activities as consumer engagement with social networking sites and interest in blogging has increased over the years. Facebook, Twitter, Instagram, and YouTube are a few significant social media platforms for product promotion.
For instance, Honasa Consumer's popular hair care appliances product brand, Bblunt, resorted to video advertising, collaborations with online influencers and celebrities, and sending personalized communications and recommendations to boost the sales of its products. Factors such as increased internet penetration, coupled with the growth in the e-commerce market, and increasing influence of social media is projected to increase product awareness, which in turn propel the demand and awareness of a wide range of hair care appliances available in the market during the forecast period.
The global hair care appliances market is subjected to various regulatory standards from associations like the International Organization for Standardization (ISO) and Consumer Product Safety Commission (CPSC). Some of the stringent regulatory compliances, such as hand-held hair dryers should possess an immersion protection device, can pose as a significant threat to the growth of the global hair care appliances market.
For instance, in September 2022, the CPSC warned consumers to immediately stop using AIQRZBI and IGIA hair dryer brushes due to electrocution hazards in the US. Thus, manufacturers are forced to use high-quality materials, particularly in hand-held hair dryers, which leads to an increase in manufacturing costs. Thus the above factors can hinder the global hair care appliances market growth during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. One of the key reasons for the increase in demand for hair care appliances is due to the increase in the number of stores and business expansions by retailers.The offline segment was valued at? USD 4,393.65 million?in 2017 and continued to grow until 2021. The key distribution channel comprises specialty stores; hypermarkets, supermarkets, convenience stores, and clubhouse stores; and others (department stores, salons and spas, and drugstores). Hypermarkets, such as Walmart Inc. (Walmart) and Target Corp. (Target), offer hair care appliances. Factors such as the preference of specialty stores by consumers for the retail purchasing of hair care appliances and rising trend of hair styling among men and women will drive the growth of this segment during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Factors such as rapid transition in the spending patterns of consumers, coupled with a rise in per capita disposable income, has resulted in an increased demand for hair care appliances in the region. Due to the growing disposable income, particularly for the young working population,there is a significant increase in opportunities for beauty product manufacturers in this region. Due to the entrance of global players in the region and the incorporation of advanced technologies, there is significant growth of the global hair care appliances market during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global hair care appliances market witnessed a significant slowdown due to the shutting down of salons and spas as well as the decline in demand, especially from professional users such as beauty salons and others in region. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown and travel restrictions, which led to the reopening of manufacturing units and salons and spas . Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The hair care appliances market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Hair Care Appliances Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.52% |
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Market growth 2023-2027 |
$ 2740.34 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.07 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 33% |
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Key countries |
US, China, Japan, Germany, and Brazil |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABV Group Inc., Conair Corp., Coty Inc., Dyson Group Co., Elchim Spa, Farouk Systems Inc., FHI Heat, Havells India Ltd., JINRI, John Paul Mitchell Systems, Koninklijke Philips NV, Kossof Beauty, LANGE, Newell Brands Inc., Panasonic Holdings Corp., Spectrum Brands Holdings Inc., Sultra Inc., T3 Micro Inc., The Cricket Co. LLC, and Wellbiz Brands Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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