Global Hair Dryers Market - 2019-2026
Global Hair Dryers Overview
The Global Hair Dryers is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Hair Dryers are used for basically to dry out the wet hair quickly, but with introduction of tourmaline hair dryers in market have found new applications like to maintain the hairs in the controlled and desired manner which make hairs look more appealing. Increasing desire and consciousness to look good among people will drive the market for Hair Dryers during the forecast period. Whereas availability of products for different types of hair and the entry of new tourmaline Hair Dryers specially designed to style the hair, have also increased the demand prominently.
Global Hair Dryers – Market Dynamics
The global Hair Dryers is primarily driven by increase in internet penetration in the developing countries such as China, India And Brazil etc. This has enabled huge market potentials for e-commerce businesses. These E-commerce businesses provide convenience and easiness for shopping to consumers who want to buy beauty and personal care products and devices such as Hair Dryers through online shopping portals. And the other factor that is boosting the hair market is the increasing disposable income of the people all around the world and growing consciousness to look good among people.
However, the high availability of counterfeit products in the Asia-Pacific region specially in countries like China and India have hampered the growth of the Hair Dryers market. Counterfeit products are the fake or unauthorized replica of real product, that take advantage of the superior value of the real product.
Global Hair Dryers – Segment Analysis
By product type, the global Hair Dryers is segmented into Handheld hair dryer and Hooded hair dryer. Handheld hair dryer type has the dominant position in the Hair Dryers and is expected to retain its dominance in the forecasted period, due to ease of usage. However, due to increase in salon chains the demand for Hooded hair dryers have increased globally. It is expected that Hooded hair dryer will grow at a CAGR of ~XX% during the forecast period.
By distribution channel, the global haircare product Market is segmented into online and offline distribution channels. Offline distribution channel includes Supermarkets, Specialty stores like Sephora and Nykaa, exclusive stores, saloon & spa, and hypermarkets, while online distribution channel includes distribution through e-commerce platforms.
Global Hair Dryers– Geographical Analysis
By geography, the global Hair Dryers is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
Asia-Pacific (APAC) holds the largest market share for Hair Dryers. Due to internet penetration in most of the developing countries like China, and India has made APAC to hold most of the market share. However, Middle east and Africa is after APAC in terms of market share of Hair Dryers, increase consciousness for grooming among people has led to rise in demand for the hair dryer.
In APAC, China and India are the major market holding countries due the population and the effect of the internet penetration in these developing countries.
Global Hair Dryers– Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Hair Dryers is a fragmented market with the presence of various global and regional players in the market. The major players include Conair Corporation, Dyson, Koninklijke Philips, Panasonic, and TESCOM. Other key players in the market include Kangfu, Beauty Elite Group, VOLO Beauty, Farouk Systems, Solano International, Bio Ionic, and John Paul Mitchell System.
In April 2018, Dyson has launched the new Dyson Supersonic hair dryer professional edition. This new machine is designed to tackle some of the intrinsic issues with conventional hair dryers while providing professional hair stylists with a machine engineered for their needs. The Dyson Supersonic hair dryer professional edition uses a fast but focused airflow for precise styling, with the temperature of the airflow constantly measured to prevent extreme heat damage.
In August 2016, Dyson is planning to invest $400 million to develop at least 100 new products by 2020, nearly double what it now has on the market and equivalent to the number of products introduced since its founding. Dyson has its only lab for research named as D9. The latest wonder from this lab is the Supersonic blow-dryer. And as spent $71 million for developing Supersonic blow dryer.
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