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Electric Hair Clipper & Trimmer Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global electric hair clipper & trimmer products market size was valued at USD 4.3 billion in 2022 and is projected to expand at a CAGR of 7.2% from 2023 to 2030. The growing awareness among men regarding personal grooming is driving the demand for electric hair clipper & trimmers. Moreover, the increasing number of barber shops and salons is further fueling the demand for these products. Furthermore, manufacturers are launching new products with advanced features such as cordless and water-resistant properties. For instance, in August 2021, the U.S. based company Wahl launched a new cordless trimmer for men, the Wahl Cordless Detailer Li, with a lithium-ion battery for a longer runtime of up to 90 minutes on a single charge.
Furthermore, the rising trend of male personal grooming is boosting the demand for these products. According to an article published by Harvard University in July 2019, on average, men spend 10 minutes every day on personal grooming. Apart from that, the rising popularity of facial hair styles such as stubble, goatee, and full beards is driving the demand for electric hair clipper & trimmer products. Furthermore, the availability of these products in the e-commerce platform is also propelling the growth of the market. For instance, in October 2021, Philips launched the Philips OneBlade Pro electric trimmer on Amazon. The launch of the product on the e-commerce platform is expected to increase the sales of the product.
In addition, the rising consumer preference for cordless products is expected to drive the market growth in the coming years. The cordless design of the products offers convenience and portability, enabling users to use the product at any location. Additionally, the increasing number of product launches with advanced features such as water-resistant and self-sharpening blades are further boosting the demand for electric hair clipper & trimmer products. For instance, in July 2021, Panasonic launched a cordless trimmer, the Panasonic ER-GK40-S, with a water-resistant design and a self-sharpening titanium blade. The product is designed to offer a precise trimming experience to meet the needs of modern men.
Moreover, the increasing demand for grooming products among the youth population is further driving the market growth. Furthermore, the increasing trend of premiumization is expected to support the market growth in the forecast period. For instance, in January 2021, the U.S. based company Wahl launched a new premium range of electric hair clipper & trimmer products. The new range includes a professional trimmer, a rechargeable trimmer, and a cordless trimmer. The product range is designed to provide a superior trimming experience to the premium segment of consumers.
Product Insights
The electric hair clipper and trimmer segment held the largest market share in 2020. Increasing demand for personalized trimmer and clipper designs, rising awareness among consumers regarding personal grooming, and growing focus on physical appearance among all age groups are some of the factors driving the segment’s growth. According to a report by the NPD Group, sales of electric hair clippers and trimmers increased by 15% in 2020.
The rechargeable electric trimmers segment is expected to grow at a CAGR of 8.2% during the forecast period. Rechargeable trimmers are gaining popularity due to their convenience and portability. Additionally, technological advancements such as cordless trimmers are driving the growth of the segment. Furthermore, increasing awareness about personal grooming and rising disposable income among consumers are some of the other factors contributing to the growth of this segment.
Distribution Channel Insights
The supermarkets and hypermarkets segment is estimated to be the largest contributor in the global electric hair clipper & trimmer products market, accounting for a market share of 45.1% in 2022. Supermarkets and hypermarkets are the preferred choice for consumers over other retail formats such as e-commerce and beauty salons due to the availability of a wide range of products and convenience. In addition, the presence of a large number of brands and product offerings under a single roof enables consumers to compare and make informed decisions.
The e-commerce segment is estimated to expand at the highest CAGR of 13.1% during the forecast period. Factors such as increased penetration of the internet and rising trend of online shopping are driving the growth of the e-commerce segment. In addition, the presence of attractive deals and discounts on online purchase of electric hair clipper & trimmer products are further boosting the segment growth. Moreover, the increasing availability of exclusive products on e-commerce websites is expected to propel the segment growth in the coming years.
Type Insights
The rechargeable segment accounted for the largest revenue share of 76.2% in the year 2022. The easy maintenance and low cost of these clippers & trimmers are the major factors driving the growth of this segment. Furthermore, the increasing trend of cordless grooming and personal care products among consumers is propelling the market growth. The rechargeable segment is further classified into cordless, corded, and dual voltage. The cordless segment is anticipated to expand at the highest CAGR of 10.2% over the forecast period. The increasing demand for wireless products, convenience, and portability are driving the growth of this segment.
The non-rechargeable segment is anticipated to expand at a CAGR of 8.4% over the forecast period. The increasing availability of non-rechargeable electric clippers & trimmers at lower prices is the key factor driving the growth of this segment. The non-rechargeable segment is further classified into corded and cordless. The cordless segment is anticipated to remain dominant over the forecast period and is expected to register a CAGR of 8.7%. The increasing demand for convenience and portability among consumers is the major factor driving the growth of this segment.
Regional Insights
Asia Pacific is expected to hold the largest share in the market during the forecast period. Factors such as rising demand for electric hair clippers & trimmers, increasing disposable income, and the presence of prominent players such as Panasonic, Philips, and Wahl are driving the growth of the market in the region. Furthermore, rising awareness among consumers regarding the benefits of electric hair clippers & trimmers is expected to further drive the growth of the market in the region.
North America is expected to witness significant growth in the coming years. This growth is primarily attributed to the increasing demand for electric hair clippers & trimmers among consumers, rising disposable income, and the presence of prominent players operating in the region. For instance, in June 2022, Wahl launched a new electric hair clipper & trimmer in the U.S.
Europe is expected to witness steady growth in the market. Increasing focus of players on launching new products in the region is a major factor driving the growth of the market. For instance, in May 2021, Philips launched a new range of electric hair clippers & trimmers in Germany.
Financial Projections
In this part of the electric hair clipper & trimmer products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an electric hair clipper & trimmer products business comes from the sale of products, as well as from services such as haircuts and styling. Here you will find a list with a description of each of them. Additionally, depending on the size of the business, you may also include other sources of profit such as rentals, online sales, or the sale of accessories.
Projecting Expenses
In this section, all the regular expenses related to keeping the electric hair clipper & trimmer products business running will be described. The list of operating expenses includes raw materials, employee wages, marketing expenses, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the electric hair clipper & trimmer market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In July 2022, Philips launched the Philips Series 5000 Hair Clipper, designed to provide a precise and comfortable trimming experience.
– In August 2022, Panasonic launched the Panasonic ER-GB60 Hair Clipper, designed to provide smooth and fast trimming.
– In September 2022, Wahl launched the Wahl Professional 5-Star Senior Hair Clipper, designed to provide powerful and precise trimming.
Some of the prominent players in the electric hair clipper & trimmer market include:
– Philips
– Panasonic
– Wahl
– Remington
– Babyliss
– Andis
– Hatteker
– Oster
– Braun
– Conair
Global Electric Hair Clipper & Trimmer Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global electric hair clipper & trimmer products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Electric Hair Clippers
– Electric Hair Trimmers
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Corded
– Cordless
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Electric Hair Clipper & Trimmer Products Market?
[A]: Increasing demand for hygienic, easy-to-use, and cordless electric hair clippers and trimmers is expected to drive the growth of the electric hair clipper and trimmer product market. The rising popularity of professional grooming and styling tools, along with advancements in technology, are further projected to drive market growth.
[Q]: Who are the Key Players in the Electric Hair Clipper & Trimmer Products Market?
[A]: Key players operating in the global electric hair clipper and trimmer products market include Panasonic, Wahl, Remington, Andis, Conair, BaByliss, and Braun, among others.
[Q]: What are the Potential Opportunities in the Electric Hair Clipper & Trimmer Products Market?
[A]: Increasing demand for electric trimmers and clippers in the personal care segment, rapid technological advancements, and the introduction of customized products are expected to offer lucrative opportunities in the electric hair clipper and trimmer products market.
[Q]: What are the Major Regional Markets?
[A]: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the major regional markets for electric hair clipper and trimmer products.
[Q]: What is the Impact of COVID-19 on the Electric Hair Clipper & Trimmer Products Market?
[A]: The electric hair clipper and trimmer products market has been adversely affected by the COVID-19 pandemic. The closure of salons and barber shops, along with travel restrictions have hampered the demand for electric trimmers and clippers. However, the increasing focus on hygiene and the rising demand for home grooming and styling products is expected to drive the market in the near future.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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