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Hair Dryer Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global hair dryer products market was valued at USD 4.7 billion in 2022 and is projected to expand at a CAGR of 5.1% from 2023 to 2030. Growing awareness about personal grooming among the population is driving the demand for hair dryers. The rising popularity of air dryers due to the availability of a variety of designs, such as stand dryers, hood dryers, and wall-mounted dryers, is further propelling the market growth. Besides, technological advancements such as the introduction of cordless hair dryers are also driving the market growth. For instance, in August 2020, Panasonic launched a cordless hair dryer that can be used anywhere.
Moreover, the increasing demand for energy-efficient products is boosting the market growth. For instance, in November 2021, Philips launched a hair dryer with a ‘Smart Sense’ technology that automatically adjusts the temperature and airflow based on the user’s hair type, resulting in 50% less energy consumption. Additionally, the growing popularity of travel-friendly hair dryers with retractable cords and foldable handle is further driving the market growth. For instance, in January 2021, Dyson launched a travel-friendly hair dryer, Dyson Corrale, that is engineered to style all hair types.
The increasing technological advancements to develop products with better performance characteristics is supporting the market growth. For instance, in November 2021, Revlon launched the Pro Collection Salon One-Step Hair Dryer & Volumizer featuring advanced ionic technology and a unique oval brush design. This product aims to reduce time and effort while providing a salon-like hairstyle. Additionally, the growing demand for professional hairdryers is further propelling the market growth. For instance, in 2020, BaBylissPRO launched the Prima3000 hairdryer, which is designed to provide professional-level performance.
Furthermore, the rising trend for the use of natural ingredients in these products is expected to boost the market growth. For instance, in October 2020, Parlux launched a hair dryer with a natural, organic, and eco-friendly formula, Parlux 3200 Compact Hair Dryer with Ionic & Eco Friendly Technology. Additionally, the increasing disposable income among consumers and the increasing demand for luxury products is further driving the market growth. For instance, in January 2021, Kérastase launched Kérastase Hair Dryer L’Incroyable Blowdry that offers a personalized experience with adjustable temperature and airflow settings.
Product Insights
The hair dryers segment dominated the market and accounted for a share of around 39.2% in 2022. The rising trend of at-home beauty treatments along with the growing awareness about personal grooming and hygiene, especially among women, is the major factor driving the demand for hair dryers. According to an article published by Allure, in April 2020, more than half of the women in the US admitted to using a hairdryer at least once a week. Furthermore, technological advancements in the hair dryers, including the adoption of advanced heating technology such as infrared & ionic technology, are expected to drive the market growth.
The hair curlers segment is anticipated to expand at the fastest CAGR of 7.6% during the forecast period. Growing popularity of hair styling products, increasing awareness about personal grooming, and the rising demand for professional styling tools are some of the key factors driving the demand for hair curlers. In addition, rising popularity of online shopping and various e-commerce platforms are expected to offer lucrative opportunities for the market players in the forthcoming years.
Distribution Channel Insights
The supermarkets and hypermarkets segment is projected to dominate the market with over 47.4% share in 2022. The growth of the segment is mainly driven by the increasing number of supermarkets & hypermarkets across the globe. Moreover, the availability of a wide range of products at a reasonable price is further driving the demand for hair dryers from this segment. According to a study by the U.S. Department of Commerce in 2020, 55.3% of Americans prefer to shop for beauty and personal care products from supermarkets & hypermarkets.
The online segment is expected to witness the highest CAGR of 13.3% over the forecast period. The rising penetration of the internet and the availability of various payment options are driving the demand for hair dryers through online channels. Additionally, e-commerce websites and online stores offer a wide range of discounts and offers that further attract consumers to purchase hair dryers online. For instance, in January 2021, Amazon offered discounts up to 40% on the purchase of hair dryers from the website.
Type Insights
The corded segment accounted for the largest revenue share of 53.5% in the year 2022. The increasing use of corded hair dryers among women due to their higher air pressure and temperature is propelling the segment. These dryers are beneficial for thick and curly hair and are preferred for styling the hair. The availability of an extensive range of corded hair dryers in the market is also fueling the growth of the segment. For instance, Philips, a major player in the electric appliance market, offers a wide range of corded hair dryers such as Style Care Essential Care, Hair Dryer Ionic Care, and Hair Dryer Volume Care.
The cordless segment is anticipated to expand at the highest CAGR of 7.9% over the forecast period. The increasing demand for cordless hair dryers due to their convenience and portability is driving the segment. Cordless hair dryers offer the same performance as the corded ones and are ideal for home, travel, and gym use. The availability of cordless hair dryers with different power and technology such as ionic and ceramic, is also aiding in the growth of the segment. For instance, Dyson, a leading manufacturer of cordless hair dryers, offers a range of cordless dryers such as Supersonic, Airwrap, and Corrale.
Regional Insights
Asia Pacific is expected to experience the highest growth in the coming years. The region is anticipated to witness a surge in demand for hair dryers as a result of the rising disposable incomes and increasing awareness about personal care and grooming among consumers. In addition, the increasing prevalence of online shopping and the presence of a large number of manufacturers in the region are expected to drive the regional growth. For instance, in November 2021, Panasonic launched a new range of hair dryers in India and China.
Europe is expected to account for a significant share of the market. Increasing demand for high-end products with advanced features, such as multiple speed and heat settings, is expected to drive the growth of the market. Moreover, the presence of major players in the region, such as Philips and BaByliss Pro, is also expected to contribute to market growth. In October 2020, Philips launched the HP8696/00 Hairdryer in the European market with a combination of professional features to enhance user experience.
Financial Projections
In this part of the hair dryer 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 hair dryer products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main sources of revenues for a hair dryer products business come from the sale of the dryers, accessories, and other related products. Here you will find a list with a description of each of them and other possible sources of profit such as wholesale sales, online sales, and distribution.
Projecting Expenses
In this section, all the regular expenses related to keeping the hair dryer products business running will be described. The list of operating expenses includes costs of goods sold, labor costs, raw materials, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the hair dryer 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 March 2022, Panasonic Corporation launched the EH-NE73 hair dryer, with advanced ionic technology to reduce static and frizz.
– In June 2022, Conair Corporation launched the Infinity Pro Lightweight dryer, with 1875 watts of drying power.
– In August 2022, Philips launched the HP8561/00 Hair Dryer, which uses a unique airflow technology to dry the hair faster.
Some of the prominent players in the hair dryer market include:
– Panasonic Corporation
– Conair Corporation
– Philips
– Dyson
– Remington Products
– BaByliss
– Revlon
– Wahl Clipper Corporation
– Helen of Troy Limited
– Andis Company
Global Hair Dryer 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 men’s grooming products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Hair Dryers
– Hair Straighteners
– Hair Curlers
– Hair Brushes
– Hair Clippers
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is Driving the Growth of the Hair Dryer Market?
[A]: The growth of the hair dryer market is primarily driven by increasing consumer demand for convenience, coupled with technological advancements in product design and features. Other factors driving the growth of the market include increasing disposable incomes, rising demand for premium and professional hair care products, and rapid urbanization.
[Q]: What are the Key Market Trends?
[A]: The key trends in the hair dryer market include the introduction of wireless models, the emergence of cordless models, the growth of 3D printed hair dryers, and the emergence of multifunctional models.
[Q]: What are the Major Challenges Facing the Market?
[A]: The major challenges faced by the hair dryer market include high cost of production, high price of premium models, and the presence of counterfeit products.
[Q]: Who are the Leading Manufacturers?
[A]: The leading manufacturers of hair dryers are Conair, Philips, Panasonic, BaByliss, Revlon, Braun, and Dyson.
[Q]: What are the Potential Opportunities for Market Growth?
[A]: Potential opportunities for market growth include the increasing demand for cordless hair dryers, the emergence of smart hair dryers, and the introduction of innovative product designs.
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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