Dublin, April 26, 2023 (GLOBE NEWSWIRE) -- The "Personal Care Electrical Appliances Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global personal care electrical appliances market is expected to reach a value of $68.06 billion by 2028 from $32.85 billion in 2022, growing at a CAGR of 12.91%
The global personal care electrical appliances market is highly fragmented, with several top vendors operating. However, the market is witnessing consolidation, albeit at a slow pace. The key personal care electrical appliances market players include Colgate-Palmolive Company, Procter & Gamble (P&G), Lion Corporation, Havells India, Helen of Troy, Spectrum Brands, Shiseido Company, Groupe SEB, Panasonic Group, and Koninklijke Philips.
Further, over the past couple of years, the industry has witnessed the entry of many external players with new product innovation, quality, price, service, and technology to drive up their share in the market. Mergers and acquisitions are common within the industry as players look to expand and become more comprehensive in their offerings.
This trend is witnessed among vendors in a landscape where new business models and focus on developing the portfolio of their establishments are expected to drive growth. The focus is heavily shifting toward rising demand among men for personal grooming and technological innovation in hair care appliances.
North America dominated the global personal care electrical appliances market, accounting for a significant revenue share in 2022. High disposable income, strong awareness about self-care and hygiene, and the culture of smaller and nuclear households are the major elements that have led to such huge demand in the region.
Apart from that, deep penetration of some largest distribution channels such as supermarkets and hypermarkets and significant internet and online shopping access has made the market growth easy. The U.S. and Canada are the major countries driving the demand in the North American personal care electrical appliances market and are expected to keep leading the forecast period.
MARKET TRENDS & OPPORTUNITIES
Rising Number of Working Women In Developing Countries
The demand for personal care electrical appliances has increased as the female workforce population has increased. In a professional lifestyle, an individual's appearance is important to their role and designation. Thus, with the rise in the female population, the usage of personal care electrical appliances products is also expected to increase in further years.
The rising female labor workforce has also augmented the need for personal care products, especially electrical appliances, in the personal care electrical appliances market. Moreover, major beauty & personal care industry players have expanded their product portfolio in the personal care electrical appliances apart from their fast-moving electrical goods.
These vendors mainly focus on manufacturing women-based products compared to males, as women are more concerned about their beauty and personality than men. Many existing vendors in these developing countries are expected to increase their presence across other countries to expand the market.
For instance, Nova India is a leading fast-moving electrical goods company. The company offers a wide range of women's care electrical appliances, including bikini trimmers, hair styling kits, hair dryers & blow dryers, and hair straighteners.
Rising Demand Among Men For Personal Grooming
Some common personal grooming habits include applying make-up, bathing, hair removal, dressing, skin care, and teeth care. Personal grooming is highly based on an individual's feelings and perceptions and highly varies among males and females.
Moreover, personal grooming plays a major role in self-grooming, mainly due to the social arena and for uplifting an individual's confidence and self-esteem. There has been a rise in the use of personal care & cosmetic products such as disposable razors, aftershave balm, beard trimmers, beard oil, shampoo & conditioner for beards, nourishing balm, nose hair trimmers, hair clippers, all-in-one shower products, eye cream, hydrating body lotion, and others.
Thus, many men are inclined towards their looks related to body health, grooming, and increasing self-confidence. Many men are getting habitual to these habits with the growing use of personal grooming products, which is contributing to the personal care electrical appliances market.
Furthermore, many key vendors have initiated raising awareness about wellness and beauty products, especially among men, to build a strong customer base. Rising conversations about the products bring higher resonance among young men, especially millennials and gen Z, who align themselves with branded products.
INDUSTRY RESTRAINTS
Low Penetration Among Low- And Middle-Income Countries
The penetration of personal care electrical appliances products remains low in low-& middle-income countries as compared to the developed nations.
The low awareness about electrical appliances in developing markets, the high cost of personal care products, and the lack of awareness about personal care and hygiene are major growth inhibitors for the personal care electrical appliances market. Further, end-users in many countries such as APAC, the Middle East & Africa perceive personal care electrical products as luxurious. Thus, their penetration among households for personal usage of these products remains low in these regions.
Moreover, due to a lack of personal hygiene awareness, low-and middle-income populations are less aware of other personal care, cosmetics, beauty, and hygiene products. People are unaware of the benefits of using a facial steamer, hair straightener, or hair dryer. Thus, unawareness of these products leads to a lack of adoption of personal care electrical appliances.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 309 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $32.85 Billion |
| Forecasted Market Value (USD) by 2028 | $68.06 Billion |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
Market Opportunities & Trends
- Rising Number of Working Women in Developing Countries
- Rising Demand Among Men for Personal Grooming
- Technological Innovations in Hair Care Appliances
Market Growth Enablers
- High Disposable Income and Personal Expenditure in Developed Countries
- Growing E-Commerce & M-Commerce Industry
- Rapid Urbanization in Developing Countries
Market Restraints
- Counterfeit Products
- Low Penetration Among Low- and Middle-Income Countries
Key Company Profiles
- Colgate-Palmolive Company
- Procter & Gamble (P&G)
- Lion Corporation
- Havells India
- Helen of Troy
- Spectrum Brands
- Shiseido Company
- Groupe SEB
- Panasonic Group
- Koninklijke Philips
Other Prominent Vendors
- Nobby by TESCOM
- VEGA
- Wahl Clipper Corporation
- ANDIS COMPANY
- Flyco
- POVOS
- Yongkang Xinji Hairdressing (HTC Personal Care)
- CONAIR
- Dyson
- Bio Ionic
- Elchim
- Farouk Systems
- John Paul Mitchell Systems
- Syska
- Bruush
- Nova India
For more information about this report visit https://www.researchandmarkets.com/r/61qykb
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