New York, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The Insight Partners has published a new research report titled Hair Care Appliances Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type and Distribution Channel” which includes the factors fueling the growth of the market; analysis of revenue estimation, forecast, and market share; and the identification of significant market players and their key developments. The increasing availability of affordable products, the growing influence of social media, and rising emphasis on personal appearance are driving the market growth. However, the growing concerns pertaining to heat damage caused by hair care appliances restrict the growth of the market.
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Hair Care Appliances Market - Strategic Insights
| Report Coverage | Details |
| Market Size Value in | US$ 14.44 Billion in 2022 |
| Market Size Value by | US$ 19.51 Billion by 2028 |
| Growth rate | CAGR of 5.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 138 |
| No. Tables | 58 |
| No. of Charts & Figures | 74 |
| Historical data available | Yes |
| Segments covered | Product Type, and Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Hair Care Appliances Market: Competition Landscape and Key Developments
Revlon Inc., Koninklijke Philips N.V., Dyson Limited, Jemella Ltd., Instyler, Kiss Products Inc., Toni & Guy, Cloud Nine, T3 Micro Inc., and Conair LLC are a few key players operating in the hair care appliances market. Leading market players adopt various business strategies, including mergers and acquisitions, to expand their geographic presence and consumer base across the world. For instance, in February 2022, Revlon launched a gentler version of its hair dryer brush product. In July 2020, Philips introduced haircare high-tech devices and DIY female grooming products
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In 2021, Asia Pacific dominated the hair care appliances market. Also, it is expected to dominate the market during the forecast period. The rapidly changing lifestyles of consumers due to the increased consciousness about hair health in countries, such as China, India, and Australia, are driving the growth of the market. Along with this, rising usage of hair dryers by men is becoming a trend across the region. Further, the increased presence of hair care appliances manufacturers has led to the development of innovative products, which would provide growth opportunities for the hair care appliances market during the forecast period.
The availability of hair care appliances across various distribution channels, including supermarkets & hypermarkets, specialty stores, and online retail, is driving the hair care appliances market. Consumers are increasingly purchasing various goods from online shopping platforms owing to various advantages, such as heavy discounts, availability of a wide range of products of different brands, customer reviews and ratings, and home delivery services. Hair care appliance manufacturers have started selling their products on their own websites and online retailers. For instance, Dyson and Koninklijke Philips N.V. are among the haircare appliances manufacturers who are selling their products through online retailers, such as Amazon.com, Nykaa, and Sephora, to widen their customer base. Also, they have their own online shopping platform where consumers can get an authentic product at a discounted price. Thus, the increased availability of hair care appliances at affordable prices is boosting the market growth.
Based on product type, the hair care appliances market is segmented into dryers and blowers, straighteners, curlers, and others. In 2021, the dryers and blowers segment held the largest hair care appliances market share. The increased use of hair dryers by men across the world is driving the demand for dryers and blowers. Along with this, manufacturers are offering products with innovative technologies, including ionic and tourmaline dryers with different attachments, speeds, and heat settings. Thus, the development of innovative hair dryers is providing growth opportunities for the market.
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Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2021, the supermarkets and hypermarkets segment held the largest market share. Supermarkets and hypermarkets are huge retail establishments offering an extensive range of products, such as groceries, personal care, and household products. These stores provide hair care appliances of various brands at reasonable prices, allowing shoppers to find the right product quickly. Due to their heavy customer base, manufacturers of hair care appliances usually prefer to sell their products through supermarkets and hypermarkets. An increase in urbanization, a rise in the working-class population, and competitive pricing boost the popularity of supermarkets and hypermarkets in developed and developing countries.
The global hair care appliances market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2021 and is expected to register the highest CAGR during the forecast period. The increased availability of hair care appliances at affordable prices in countries, including India and China, has propelled the demand for hair care appliances. Along with this, people across the region are becoming conscious about healthy hair. Thus, the demand for hair care appliances is surging as they help in taking proper care of hair, leading to less damage and breakage of hair. In 2021, North America was the second-largest market for hair care appliances, followed by Europe.
In 2021, Asia-Pacific accounted for the largest share of the global hair care appliances market. The increased prevalence of hair health-conscious consumers, the growing influence of social media on consumers, and the increased availability of hair care appliances at affordable prices are primarily driving the hair care appliances market growth.
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Based on geography, the hair care appliances market is primarily segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). In 2021, Asia Pacific dominated the market. The growing concern about hair health among consumers and increasing use of hair dryers among women and men across the region drive the demand for hair care appliances. Further, the presence of major manufacturers of hair care appliances in Asia Pacific is providing growth opportunities for the market.
Several industries, including consumer goods, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw materials and labors, shutdown of factories, and other operational difficulties induced by safety protocols adversely affected the hair care appliances market. However, vaccination drives have led to a rise in business activities worldwide. The economies are reviving their operations. Thus, the demand for hair care appliances is expected to rise globally in the coming years. Key manufacturers have resumed operations, thereby restoring the production capacities of hair care appliances. The online sales of personal care products, including haircare appliances, increased steadily during the pandemic, and consumers are expected to continue with the online shopping trend in the coming years. This factor is expected to open lucrative opportunities for the haircare appliances market in the future.
The overall hair care appliances market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include VPs, business development managers, market intelligence managers, and national sales managers, and external consultants—such as valuation experts, research analysts, and key opinion leaders—specializing in the hair care appliances market.
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Impact of COVID-19 Pandemic on Hair Care Appliances Market
Several industries, such as consumer goods, faced unprecedented challenges due to the COVID-19 pandemic. The shutdown of manufacturing units severely affected the production and supply of products. Further, the shutdown of distribution facilities, including supermarkets and hypermarkets, and retail outlets, hampered the growth of the market. However, with the gradual revival of economies, many manufacturers resumed their operations with maximum or full capacity. Therefore, production volumes of hair care appliances surged from 2021. In addition, the demand for hair care appliances grew from the working population, which contributed to the market growth.
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