Hair Dryer Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast | Growth Market Reports

The global hair dryer market is projected to expand at a CAGR of 6.2% during the forecast period, 2021 – 2028. The growth of the market is attributed to rising number of people purchasing personal grooming products.

Hair dryers are generally used to dry wet hair; however, the launch of tourmaline hair dryers has found its application in hair styling. The introduction of smart dryers that offer various features such as multi speed and heat settings is propelling the product demand around the world.

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Market Drivers, Restraints, Trends, and Opportunities

• Increasing disposable income and growing inclination toward personal styling are the key factors driving the market growth.
• Growing investments in endorsement of the products by cosmetics manufacturers is expected to influence the target consumers, thereby driving the market growth.
• Rising awareness regarding personal grooming products is anticipated to spur the market growth. The rise in the number of professional hair salons, especially in emerging regions, is anticipated to spur the hair dryer market growth over the forecast period. For instance, in February 2018, Boutique Noir Salon announced the launch of its first premium luxury salon chain in New Delhi.
• Availability of fake or unauthorized replica of original product in the countries such as China and India can restrain the market growth.

Global Hair Dryer Market Segment Insights

Corded segment accounted for a significant market share.

On the basis of products, the market is segmented into corded and cordless. The corded segment accounted for a significant market share in 2020, in terms of revenue. This type of hair dryer have steady energy supply owing to direct supply current, which makes them more preferable among consumers. On the other hand, the cordless segment is anticipated to witness a healthy growth rate during the forecast period. They are more convenient to use as they can be used outdoors, which has increased their demand across the globe.

Professional segment anticipated to account for a considerable market share.

Based on applications, the market is bifurcated into professional and individual. The professional segment is anticipated to expand at a CAGR of 5.2% during the forecast period. Leading manufacturers such as Conair Corp., Dyson Ltd., Koninklijke Philips N.V., and TESCOM Co. are focusing on introduction of innovative products to cater the demand for professional hair stylist and salons. Conversely, the individual segment is anticipated to witness a substantial growth rate owing to the increasing product demand for self-grooming among consumers.

Online segment expected to account for a large market share.

On the basis of distribution channels, the market is segmented into online and offline. The online segment is expected to account for a large share of the market owing to increasing consumer preference for online shopping. Online platforms are influencing the consumers to shop for home electronic devices from e-commerce platforms such as Flipkart, Walmart, and Amazon. Rising number of smartphones and Internet users in countries such as India, China, Brazil, Indonesia and Vietnam, is expected to spur the segment growth. Furthermore, leading manufacturers are focusing on launch of exclusive online portals and websites to increase their product visibility.

The offline segment accounted for a large market share owing to increasing product availability and growing product visibility in retail stores. Manufacturers are focusing on introducing their products in multi-brand retail stores. However, the COVID-19 pandemic has plummeted the growth rate of the offline segment. Consumers are choosing online platforms over offline stores to buy the electronic products owing to heavy discounts offered by them and enjoy the convenience of doorstep delivery.

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Regional Outlook

In terms of regions, the market is classified into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to witness a substantial growth rate owing to the presence of large consumer base and continuous product innovation by major players.

The market in Asia Pacific is expected to grow at a healthy rate owing to increasing disposable income in the countries such as India and China. Introduction of advanced technology and boost in the manufacturing industry are further propelling the growth of the market in the region.

Competitive Landscape

Some of the key manufacturers in the global hair dryer market include Conair corporation, Panasonic, Phillips, Dyson, Sharp Corporation, Tescom, Remington, Drybar, Revlon, Koninklijke Philips N.V. and Beauty Elite Group.

Leading manufacturers are focusing on strategies such as product innovation, mergers & acquisitions, expansion of distribution channel, and brand endorsement to increase their market share.

In November 2018, Panasonic Corp. announced the launch of two products, Nanoe and Double Mineral Hair Dryer EH-NA98 in Malaysia. These products offer temperature-controlled air flow, to reduce the hair damage due to extreme heat.

In April 2018, Dyson Ltd. announced the launch of Dyson Supersonic Hair Dryer. The product is specifically designed for professionals. The product has fast and focused airflow for different types of hair styling. Furthermore, it has features to control the temperature of the airflow to avoid hair damage due to excessive heat.

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