Portland, OR, July 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global beard trimmer market garnered $5.7 billion in 2021, and is estimated to generate $13.0 billion by 2031, manifesting a CAGR of 8.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $5.7 billion |
| Market Size in 2031 | $13.0 billion |
| CAGR | 8.8% |
| No. of Pages in Report | 267 |
| Segments covered | Product Type, End User, Distribution Channel, and Region |
| Drivers | Surge in number of consumer consciousness about their appearance |
| Considerable increase in number of salons | |
| Opportunities | Extended product offerings by manufacturers |
| Exposure to international fashion trends through social media platforms such as Facebook, Instagram, and YouTube | |
| Restrains | Lack in awareness about usage of beard trimmers |
| Utilization of conventional type of tools to cut beard in rural areas |
Covid-19 Scenario:
- Manufacturing activities of beard trimmers were stopped completely or partially due to closure of factories with lockdown restrictions in place. In addition, raw material shortage and supply chain disruptions presented challenges in manufacturing activities.
- However, the demand for beard trimmers increased during the lockdown as many saloons and shops for hair cutting were closed down to prevent the spread of Covid-19. However, disruptions in supply chain pretend difficulties in meeting the sudden rise in demand from household customers. The demand from commercial customers reduced considerably.
- Many offline distribution channels such as hypermarket and supermarket, specialty store, and others were closed during the lockdown. This impacted the overall revenue of the market. Delivery through online channels was possible for a certain period of time.
- The demand is expected to rise steadily post-pandemic as hair salons and shops reopen for full time and people begin visiting them for taking care of their beards.
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The research provides detailed segmentation of the global beard trimmer market based on product type, end user, distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the cordless segment held the highest share in 2021, accounting for more than three-fifths of the total share, and is expected to continue its leadership status during the forecast period. Moreover, this segment is expected to register the highest CAGR of 9.2% from 2022 to 2031. The research also analyzes the corded segment.
Based on end user, the personal segment accounted for the highest share in 2021, contributing to nearly three-fourths of the total share, and is expected to maintain its lead in terms of revenue during the forecast period. However, the commercial segment is expected to manifest the highest CAGR of 10.3% from 2022 to 2031.
Based on distribution channel, the hypermarket and supermarket segment accounted for the highest share in 2021, holding more than one third of the global beard trimmer market. However, the online segment is expected to dominate in 2031. Also, the online segment is estimated to grow at the highest CAGR of 10.7% during the forecast period. The report also analyzes the segments including specialty store and other stores.
Based on region, Europe held the largest share in 2021, contributing to nearly one-third of the total market share. However, Asia-Pacific is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 11.0% during the forecast period. The research also analyzes regions including North America and LAMEA.
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Leading market players of the global beard trimmer market analyzed in the research include Andis Company, Brio Product Group, Braun, Procter & Gamble, Conair Corporation, Koninklijke Philips N.V., Panasonic Corporation, Syska, Spectrum Brands, and Wahl Clipper Corporation. The report provides a detailed analysis of these key players of the market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
