Dublin, May 09, 2023 (GLOBE NEWSWIRE) -- The "Hair Dryer Market Size, Share & Trends Analysis Report By Product (Corded, Cordless), By Application (Professional, Individual), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global hair dryer market size was valued at USD 13.64 billion in 2030, expanding at a CAGR of 6.0% from 2023 to 2030.
Companies Mentioned
- Conair LLC
- Panasonic Holding 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 key dynamics driving the demand for hair dryers are growing standards of living and greater emphasis on personal appearance. Evolving fashion trends in hair care and styling and the rising hair styling trends featured in movies and on fashion runways are considerably impacting the sales of hair dryers globally, across all age groups. Hairdryers help style, curl, straighten, volumize, or flatten the hair using heat.
An increase in consumer spending on professional salons and hair styling tools is expected to open new avenues for market growth. Consumer expenditure on professional salons and hairstyling tools is driving the global hair dryer industry. With the growing popularity of social media, beauty trends have changed a lot, which has led to a surge in demand for hair dryers. According to the Philips Global Beauty Index 2019, nearly 76% of women used a hair dryer regularly. Such trends will lead to the high adoption of hair dryers by consumers.
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.
The corded product segment held the largest market share more than 83.0% in 2022 and is expected to witness progressive growth in demand during the forecasted period. Generally, corded hair dryers are preferred for use in households and professional services, where portability is not required. They are also more powerful than cordless hair dryers and can dry the hair quicker. They have better airflow and heat settings, hence they are preferred by consumers.
The professional segment is expected to register the highest CAGR of 6.2% during the forecast period. With the rise in disposable incomes and increased beauty standards of the modern world, the trend of visiting hair salons to style hair has been growing in recent years and hair salons are witnessing a higher footfall. This has fueled the demand for professional hair dryers.
The offline segment dominated and held the largest revenue share of over 72.05% in 2022. Offline is the most widely used channel for purchasing hair dryers. Offline stores provide consumers with the option of testing the operations of the product before making a purchase decision.
North America accounted for the largest revenue share of over 34.0% in 2022, particularly owing to the presence of a large consumer base with high awareness about personal grooming and self-care. Furthermore, as consumers in North America have a higher disposable income compared to the rest of the world, especially those in the U.S. and Canada, the tendency of purchasing high-end hair dryers is greater in the region.
The major players account for a considerable market share and have a strong presence across the globe. The hair dryer industry also comprises small and medium sized local players who offer a selected range of products at much cheaper rates and mainly serve regional customers. Global brands face tough competition from these players since smaller players have a better grasp and reach in regional or country markets.
Hair Dryer Market Report Highlights
- The corded product segment accounted for the leading market share of more than 83.0% in 2022 and is expected to witness significant growth in the near future. Generally, corded hair dryers are preferred for use in households and professional services, where portability is not required
- The professional segment is expected to register the highest CAGR of 6.2% during the forecast period. With the rise in disposable incomes and increased beauty standards of the modern world, the trend of visiting hair salons to style hair has been growing in recent years and hair salons are witnessing a higher footfall
- The offline segment dominated the market and held a revenue share of over 72.05% in 2022. The offline channel is the most widely used channel for purchasing a hair dryer. Offline stores provide consumers with the option of testing the operations of a product before making a purchase decision
- North America accounted for the largest revenue share of over 34.0% in 2022, particularly owing to the presence of a large consumer base with high awareness about personal grooming and self-care
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $8.57 Billion |
| Forecasted Market Value (USD) by 2030 | $13.64 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Hair Dryer Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter's Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Hair Care Market: Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends & Preferences
4.3. Factors Influencing Buying Behavior
4.4. Consumer Service Adoption Trends
4.5. Key Observations & Findings
Chapter 5. Hair Care Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. Cord
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 Care Market: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2022 & 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 Care Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution Channel Movement Analysis & Market Share, 2022 & 2030
7.2. Online
7.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
7.3. Offline
7.3.1. Market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 8. Hair Care Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Analysis
For more information about this report visit https://www.researchandmarkets.com/r/m0iq2t
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