Wilmington, Delaware, United States, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global hair dryer market was estimated at a value of US$ 248 million in 2022. It is anticipated to register a 5% CAGR from 2023 to 2031 and by 2031 the market is likely to attain US$ 395 million by 2031.
Increased consumer spending on salon services and widespread use of hair styling tools are predicted to present profitable prospects for the global hair dryer market. The rise in popularity of social media has caused a substantial change in beauty trends, which has increased demand for hair dryers.
As to the 2019 Philips Global Beauty Index, about 76% of women reported regular use of a hair dryer. In the upcoming years, it is anticipated that these developments would result in a rise in the use of hair dryers.
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Key Findings of Market Report
- The expected growth in the global hair dryer market is attributed to the rising number of professional salons expanding worldwide. A surge in consumer awareness regarding personal care is also contributing to an increased demand for these products.
- In order to expand their customer base, prominent salon chains are channeling investments into the emerging countries of the Asia Pacific region.
- Numerous salons are opting for the utilization of professional hair products, including hair dryers.
- There is an expectation of a rise in the count of professional hair salons during the forecast period, especially in emerging markets.
Market Trends for Hair Dryers
- Hair dryers are segmented into wired and wireless categories based on product type. The wired segment is expected to experience significant growth and holds a substantial market share. Wired hair dryers outperform their wireless counterparts in terms of power, and their durability is attributed to the absence of an internal battery.
- Throughout the forecast period, the wireless hair dryer market is expected to experience rapid growth. Using a wireless hair dryer allows for greater mobility, time savings, and convenient maintenance of cleanliness
- Carrying a wireless hair dryer is effortless. In the event of power outages, it is also quite helpful. It is anticipated that all of these elements will make wireless hair dryers more appealing to consumers worldwide
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Global Hair Dryer Market Segmentation
Product Type
Wired, Wireless
Price
Low, Medium, High
End User
Individual, Commercial (Beauty Parlors, Spas, Others)
Distribution Channel
Online (Company-owned Website, E-commerce Websites)
Offline (Specialty Stores, Supermarkets/Hypermarkets, Other Retail Stores)
Region
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Global Market for Hair Dryers: Regional Outlook
Various reasons are propelling the growth of the hair dryer market throughout the region. These are:
- In 2022, Asia Pacific accounted for the greatest proportion. Since China, India, and other Asian nations are becoming more and more interested in personal grooming, the demand for hair dryers in the region is predicted to grow faster than in any other region. The rapid urbanization that is occurring in emerging economies, along with rising disposable income and consumer willingness to spend on personal grooming, will help the regional market grow.
- In Europe, the market has entered the era of targeted expansion. In the upcoming years, it is anticipated that the region's market would increase significantly due to a robust product pipeline and a well-established portfolio management strategy, which includes offering offers and discounts and building well-built e-commerce websites.
- During the projected period, hair dryer adoption and usage are expected to increase significantly globally, leading to significant market development
Global Hair Dryer Market: Key Players
Leading companies are devoting substantial resources to research and development, mostly to meet client needs. Their main goal is to create hair dryers that are more effective while causing the least amount of harm to the hair's texture and scalp.
Manufacturers are also eager to provide goods of superior quality at reasonable prices. The major companies in the hair dryer business are concentrating on teaming up to broaden their reach through independent websites or other online platforms, advertise their goods, and reach a larger audience.
The following companies are well-known participants in the global hair dryer market
Beauty Elite Group, Conair LLC, Dyson, Elchim s.p.a., Ningbo Taili Electric Appliance Co Ltd., Panasonic Corp, Philips India Ltd, Remington Arms Company LLC, Taizhou Yunsung Electrical Appliance Co Ltd., TESCOM Co Ltd
Some key developments by the players in this market are:
- Panasonic added a new color to its existing Nanoe hairdryer EH-NA98, which cares for the user's hair and scalp, on May 31, 2023. The Nanoe hair dryer from Panasonic locks moisture in the hair by penetrating it with its ultrafine Nanoe technology.
- Olivia Garden, a well-known player in the hair care industry worldwide, announced the release of their new SuperHP High Performance Hair Dryer on March 1, 2023. It can be deeply cleaned thanks to its removable inner filter. Strong airflow from the brushless motor of the hair drier dries thick hair fast. In addition to its ergonomic, lightweight design, it has clever heat control and temperature adjustment.
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