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The Worldwide Hair Dryer Industry is Anticipated to Reach $13.6 Billion by 2030: Increasing Number of Professional Salons Drives Growth
Saturday, February 4, 2023
DUBLIN, Jan. 4, 2023 /PRNewswire/ -- The "Hair Dryer Market Size, Share & Trends Analysis Report By Product (Cordless, Corded), By Application (Professional, Individual), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
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The global hair dryer market size is anticipated to reach USD 13.64 billion by 2030., expanding at a CAGR of 5.8% from 2022 to 2030.
Companies Mentioned
-- Conair LLC
-- Panasonic Holdings Corporation
-- Koninklijke Philips N.V.
-- Dyson Limited
-- Tescom Co. Ltd.(Tescom Denki Co. Ltd)
-- Spectrum Brands, Inc.
-- Revlon Inc.
-- Ghd Hair (Jemella Ltd)
-- Harry Josh Pro Tools
-- Braun GmbH (A Brand of Procter & Gamble)
The market will be driven by an increasing number of professional salons across the globe. In addition, rising awareness about personal grooming is propelling product demand. Changing lifestyles due to hectic work schedules are also significantly boosting product demand.
Major salon chains are investing in the developing regions of Asia Pacific for increasing their customer base. Thus, the rising number of professional hair salons, particularly in emerging regions, is also anticipated to contribute to the hair dryer market growth in the forecast period. The product manufacturers promote their brands and innovative technologies through social media campaigns.
Moreover, increased investments in celebrity endorsement by cosmetics manufacturers to influence the target customers will drive the product demand. North America is the dominant regional market; however, Asia Pacific is expected to witness the fastest growth over the forecast period at a CAGR of 5.6% from 2022 to 2030.
The global economy deteriorated rapidly in the first quarter due to the impact of lockdowns and other restrictions in various countries to counter the COVID-19 pandemic. However, economic activities around the world began to pick up in the second quarter of 2020. By the end of the third quarter and later, new waves of COVID-19 infections led to another round of restrictions and extensions of existing restrictions in various countries. Bottlenecks for semiconductors and other economic issues occurred toward the end of the fiscal year.
Several hair dryer manufacturers reported a decline in sales due to the hampered supply of electric equipment and semiconductors. Furthermore, the use of hair dryers for professional applications was reduced owing to social distancing norms imposed across the globe.
Corded dryers were the largest product segment in 2021 and accounted for a market share of more than 80%. These products are intense energy-consuming devices with high power rating labels. As a result, corded products are considered more efficient with direct home supply. On the other hand, cordless products are gaining popularity owing to their ease of use. Manufacturers are offering products with innovative technologies including ionic and tourmaline dryers with different attachments, speed, and heat settings.
Professional application is expected to be the fastest-growing segment at a CAGR of 6.0% from 2022 to 2030. Major manufacturers including Conair Corp., Dyson Ltd., Koninklijke Philips N.V., and TESCOM Co. are launching new products to cater to the increasing demand for advanced dryers.
Online distribution channel is expected to be the fastest-growing segment from 2022 to 2030. Online platforms have been an essential part of influencing consumer preferences for purchasing home electronic devices through e-commerce platforms, such as Flipkart, Walmart, and Amazon. The growing number of internet and smartphone users, especially in developing countries like India, China, Indonesia, and Vietnam, is expected to boost the segment over the forecast period. Moreover, major market participants are launching exclusive online portals and websites, which is likely to drive the segment further.
North America was the largest market in 2021 owing to the presence of the target population and the well-established fashion industry. Asia Pacific is expected to be the fastest-growing market as a result of the large customer base in China and India. These countries have a huge growth potential and lucrative market for hairdressing products including dryers. International and regional companies are launching new products to cater to the rising demand for hair-dressing products. Thus, product innovations are expected to offer numerous growth opportunities for market participants over the forecast period.
Hair Dryer Market Report Highlights
-- Corded segment led the market and accounted for 82.3% share of the
global revenue in 2021
-- Corded hair dryers are preferred for use in households and professional
services unless they are being used for traveling or other purposes
where portability is required
-- Individual segment is projected to remain at the forefront regarding
market share in the forecast period.
-- Growing urbanization across the globe has contributed to the rising
sales of hair dryers for personal use
-- Offline segment accounted for the largest share of more than 75% in
2021. The offline channel is the most widely used channel for purchasing
a hair dryer
-- North America led the global market with the highest revenue share owing
to the presence of a large number of players such as Conair Corp.,
Panasonic Corp., Dyson Ltd., and Koninklijke Philips N.V.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Hair Dryer Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.6. Roadmap of Hair Dryer Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19 on the hair dryer market
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Hair Dryer Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2021 & 2030
5.2. Corded
5.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
5.3. Cordless
5.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 6. Hair Dryer Market: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2021 & 2030
6.2. Professional
6.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
6.3. Individual
6.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 7. Hair Dryer Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Movement Analysis & Market Share, 2021 & 2030
7.2. Offline
7.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
7.3. Online
7.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 8. Hair dryer Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Analysis
9.1. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
9.2. Vendor Landscape
9.2.1. Key company market share analysis, 2018
Chapter 10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/spmb6s
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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