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The hair styling equipment market share is expected to increase to USD 4.30 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.5%.
This hair styling equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hair styling equipment market segmentation by distribution channel (offline and online), end-user (professional and individual), product (dryer, straightener, and styler), technology (corded and cordless), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The hair styling equipment market report also offers information on several market vendors, including Andis Co., Beauty Elite Group, Conair Corp., Coty Inc., Dafni Hair, Deva Concepts LLC, Drybar Holdings LLC, Dyson Ltd., Elchim Spa, Farouk Systems Inc., Hamilton Beach Brands Holding Co., Helen of Troy Ltd., Hindustan Unilever Ltd., John Paul Mitchell Systems, Koninklijke Philips NV, LVMH Moet Hennessy Louis Vuitton SE, Panasonic Corp., Spectrum Brands Holdings Inc., TESCOM Co. Ltd., and The Procter and Gamble Co. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing advantage of hair styling equipment is notably driving the hair styling equipment market growth, although factors such as the availability of counterfeit products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hair styling equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hair Styling Equipment Market Driver
The growing advantage of hair styling equipment is one of the key drivers supporting the hair styling equipment market growth. Manufacturers are now continuously innovating their product offerings to boost sales in the hairstyling appliances category. Such innovations come up with various advantages, which is increasing the adoption of hair styling equipment among consumers. For instance, hair care and styling appliances such as flat irons do not lead to hair weakening and breaking. Meanwhile, it can be used on overdyed and colored hair as it does not impact hair color. Thus, hair styling equipment is more convenient than regular hair brushes used for hair styling. This, in turn, will drive the hair styling equipment market growth during the forecast period.
Key Hair Styling Equipment Market Trend
The use of social media marketing is one of the key hair styling equipment market trends contributing to the market growth. Social media plays a key role in increasing awareness about the availability of high-end hair styling equipment such as hair dryers and hair straighteners. Moreover, consumer engagement with social networking sites and interest in blogging has led to the use of social media by vendors for promotional activities. For instance, Koninklijke Philips NV, one of the leading companies operating in the global hair styling equipment market, resorted to video advertising, collaborations with online influencers, and sending personalized communications and recommendations to boost the sales of its products. Thus, such applications of social media marketing will contribute to the hair styling equipment market growth during the forecast period.
Key Hair Styling Equipment Market Challenge
The availability of counterfeit products is one of the factors hampering the hair styling equipment market growth. Fundamentally, counterfeits are made from low-quality raw materials and can cause hair damage. However, the growing penetration of e-commerce across geographies is propelling the sales of counterfeit products. Nowadays, counterfeit products are in high demand because of their low price. The growing number of counterfeit products will adversely affect the sales and pricing strategies of genuine vendors operating in the global market. To meet such challenges, global players are compelled to price their products at low rates, which pull down their profit margins and the value sales proportion of the global hair styling equipment market. This, in turn, will hamper the market growth during the forecast period.
This hair styling equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hair styling equipment market as a part of the global leisure products industry within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hair styling equipment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the hair styling equipment market encompasses successful business strategies deployed by the key vendors. The hair styling equipment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hair styling equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hair styling equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the hair styling equipment market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Rising disposable income, rapid urbanization, and the trend of grooming among men will facilitate the hair styling equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 outbreak negatively impacted the operations of retailers of hair styling equipment in APAC in 2020. However, the initiation of vaccination drives led to the reopening of manufacturing units in 2021. This has increased the demand for hair styling equipment from commercial end-users in the region. Thus, the market in APAC is expected to witness considerable growth during the forecast period.
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The hair styling equipment market share growth by the offline segment will be significant during the forecast period. The offline distribution channel comprises specialty stores; hypermarkets, supermarkets, convenience stores, and others. Primarily, hypermarkets such as Walmart and Target offer hair styling equipment, and an increase in the number of stores and business expansions by retailers has fueled the demand for this equipment. Moreover, salons and spas are gradually gaining popularity among consumers with hectic work schedules. Thus, the expansion of offline distribution channels will drive market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hair styling equipment market size and actionable market insights on post COVID-19 impact on each segment.
Hair Styling Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.5% |
Market growth 2022-2026 |
$ 4.30 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.1 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Andis Co., Beauty Elite Group, Conair Corp., Coty Inc., Dafni Hair, Deva Concepts LLC, Drybar Holdings LLC, Dyson Ltd., Elchim Spa, Farouk Systems Inc., Hamilton Beach Brands Holding Co., Helen of Troy Ltd., Hindustan Unilever Ltd., John Paul Mitchell Systems, Koninklijke Philips NV, LVMH Moet Hennessy Louis Vuitton SE, Panasonic Corp., Spectrum Brands Holdings Inc., TESCOM Co. Ltd., and The Procter and Gamble Co. |
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 |
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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