Hair Styling Tools Market Size, 2020 Industry Share and Global Demand | 2027 Forecast by Fortune Business Insights™
The global Hair Styling ToolsMarket size is expected to reach USD 39.63 billion by 2027 whileexhibiting a CAGR of 3.7% between 2020 and 2027. This is attributable to thepresence of younger generation that drives the demand for advanced smart hairstyling tools across the globe.
Fortune Business Insights, in itslatest report, titled, “Hair Styling Tools Market Size,Share & COVID-19 Impact Analysis, By Product Type (Manual and Electric(Dryer, Straightener, Curler, and Others)), Application (Household andCommercial), Distribution Channel, and Regional Forecast, 2020-2027.”, mentionsthat the market stood at USD 30.09 billion in 2019 and is projected to showcasean exponential growth in the forthcoming years.
Closed Hair Salons amid COVID-19 MayHinder Market Growth
The enforced lockdown has resulted inthe complete halt of operations that has led to unprecedented economic lossacross the globe. To contain the spread of the novel coronavirus, people havebeen advised to stay confined at home spaces. Additionally, the government hasordered the shutdown of various shops and establishments that include hairsalons and grooming services. This is hindering the market growth to someextent. However, the increasing focus on developing innovative portable hairstyling products by the manufacturers will favor the market growth in the nearfuture.
Hair styling tools are extensivelyadopted by the hairdressers for their grooming sessions. The tools include hairdryers, hair irons, hair brushes, diffusers, hair roller, and other types ofequipment. These tools are used to add shine, texture, volume, curl, or hold onto any desired style by the customer. The increasing consciousness overappearance and style is driving the demand for advanced personal care productsacross the globe.
What does the Report Include?
The market report includes a detailedassessment of various drivers and restraints, opportunities, and challengesthat the market will face during the projected horizon. Additionally, thereport provides comprehensive insights into the regional developments of themarket, affecting its growth during the forecast period. It includesinformation sourced from the advice of expert professionals from the industryby our research analysts using several research methodologies. The competitivelandscape offers further detailed insights into strategies such as productlaunches, partnership, merger and acquisition, and collaborations adopted bythe companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Presence of Gen X to Surge the Adoptionof Innovative Hair Styling Tools
According to the U.S. Census Bureau,the millennial population has surpassed the baby boomers as the largest livingadult generation in the U.S. The high presence of the younger population ispropelling the demand for premium grooming products. Additionally, increasingspending on personal care services by the Gen X is expected to drive the demandfor advanced hair styling tools during the forecast period. The manufacturersare further adopting advanced technology to develop smart personal careproducts that will contribute to the growth of the global market during theforecast period.
SEGMENTATION
Hypermarkets/Supermarkets Held 42.82%Market Share in 2019
The hypermarkets/supermarkets segment,based on the distribution channel, is anticipated to gain momentum backed bythe large availability of grooming products and hair styling tools acrossstores globally. The segment held a market share of about 42.82% in 2019.
List of the Leading Companies Profiledin the Global Hair Styling Tools Market are:
- Koninklijke Philips N.V.
- Spectrum Brands, Inc.
- Dyson Ltd.
- Conair Corporation
- Panasonic Corp.
- Coty Inc.
- Procter & Gamble Co.
- Helen of Troy Ltd.
- WAHL Clipper corp.
- Hamilton Beach Brands
REGIONAL INSIGHTS
Europe to Remain at the Forefront;Increasing Number of Hair Salons to Augment Growth
Among all the regions, Europe isexpected to remain dominant and hold the highest position in the global hairstyling tools market. Dominance is attributable to the increasing number ofhair salons and the growing adoption of advanced smart hair styling tools inthe region.
The market in Asia-Pacific is expectedto showcase considerable growth backed by the surging demand for innovativegrooming products owing to the presence of a younger population in South Asiannations in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Merger and Acquisition by MajorCompanies to Expand Portfolio
The market is experiencing massivecompetition from the major companies focusing to maintain their stronghold.They are doing so by acquiring other companies to develop advanced hair stylingproducts and further striving to expand their product portfolio. Apart fromthis, key players operating in the market are adopting strategies such aspartnership, the introduction of new products, and collaboration to maintaintheir presence in the global marketplace.
Key Industry Development:
January 2020 – Helen of Troy acquires Drybar Product LLC,trendsetting hair care and styling brand. According to the company, theacquisition is expected to strengthen its position in the multi-million dollarbeauty industry.
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/hair-styling-tools-market-103986
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Hair Styling Tools Trend
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Hair Styling Tools Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- Manual
- Electric
- Dryer/Blower
- Straightener
- Curler
- Others
- By Application (Value)
- Household
- Commercial
- By Distribution Channel (Value)
- Supermarkets/Hypermarkets
- Specialty Stores
- Online Channel
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
About Us:
Fortune Business Insights™ offers expert corporate analysis and accuratedata, helping organizations of all sizes make timely decisions. We tailor innovativesolutions for our clients, assisting them to address challenges distinct totheir businesses. Our goal is to empower our clients with holistic marketintelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix oftangible insights and qualitative analysis to help companies achievesustainable growth. Our team of experienced analysts and consultants useindustry-leading research tools and techniques to compile comprehensive marketstudies, interspersed with relevant data.
At Fortune Business Insights™, we aimat highlighting the most lucrative growth opportunities for our clients. We,therefore, offer recommendations, making it easier for them to navigate throughtechnological and market-related changes. Our consulting services are designedto help organizations identify hidden opportunities and understand prevailingcompetitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-hair-styling-tools-market-10262
