The global hair dryer market size was valued at USD 9.01 billion in 2023 and is expected to be worth USD 9.50 billion in 2024. The market is projected to reach USD 15.27 billion by 2032, recording a CAGR of 6.11% during the forecast period.
Hair dryers have been an important part of the beauty sector for more than a century. The beauty and fashion trends are evolving every year, which has prompted hair dryer manufacturers to make advanced versions of their products to cater to these ever-changing styling requirements. Moreover, the presence of professional hair stylists is increasing steadily as the younger population is trying to experiment with different hair colors and styles. These factors are predicted to bolster the hair dryer market growth.
Fortune Business Insights™ displays this information in a report titled, “Hair Dryer Market, 2024-2032.”
Top Companies Covered in the Hair Dryer Market:
- Conair LLC (U.S.)
- Panasonic Holdings Corporation (Japan)
- Koninklijke Philips N.V (Netherlands)
- Dyson Limited (Singapore)
- Tescom Co., Ltd. (Japan)
- Spectrum Brands, Inc. (U.S.)
- Revlon Inc. (U.S.)
- Ghd Hair (U.K.)
- Harry Josh Pro Tools (U.S.)
- Havells (India)
Information Source: https://www.fortunebusinessinsights.com/hair-dryer-market-106228
Segmentation:
Attractive Features of Corded Hair Dryers to Augment Their Sales
Based on type, the market is segregated into corded and cordless. The corded segment is estimated to capture a dominant hair dryer market share as these devices offer various features, such as consistent and powerful airflow, which decreases customers’ worries regarding their battery life.
Convenience Offered by Hair Dryers to Increase Their Demand Among Individuals
In terms of application, the market is segmented into individual and professional. The individual segment might dominate the market as hair dryers are quite popular in households. Many people use hair styling devices on a regular basis to create elegant hairstyles and improve their aesthetic appearance.
Offline Stores to Witness Notable Increase in Customer Footfall as Products Can Be Physically Inspected
Based on distribution channel, the market is divided into offline and online. The offline segment is predicted to hold the largest market share as offline stores provide customers the ability to physically inspect the product they want to buy to check its quality and reliability. Moreover, many of these stores, such as supermarkets and malls sell high-quality haircare products at affordable prices, which will further increase customers’ inclination toward these stores.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report has analyzed the market in depth and spotlighted several major areas, such as leading application areas, product types, primary distribution channels, and key market players. It also offers valuable information about the latest market trends and prominent industry developments. Besides the above mentioned factors, the report encompasses several other factors contributing to the market’s growth.
Drivers and Restraints:
Growing Adoption of Western Lifestyle to Augment Market Progress
Customers in several regions across the world are getting familiar with western lifestyle and trying to adopt the same to increase their standard of living and quality of life. Many factors have contributed to the growing popularity of the western culture, such as media influence, globalization, and the changing concept of modernity. Many haircare and styling trends from the West are being borrowed by nations across the world, which is expected to fuel the demand for hair blowers.
However, growing availability of counterfeit hair styling equipment might impede market development.
Regional Insights:
Europe to Dominate Market Due to Rising Preference for Western Lifestyle
Europe accounted for the largest share in the global market in 2022 as customers across the region are adopting western lifestyle habits on a large scale to enhance their standard of living. There is a high demand for energy-efficient and environment friendly hair styling tools across Europe as well, which will further help the regional market grow.
Asia Pacific is also expected to showcase significant growth in the global market due to the growing income level of the middle-class population, which has motivated them to purchase high-end hair styling products.
Competitive Landscape:
High Customer Spending On Cutting-Edge Beauty Devices to Accelerate Market Growth
Some of the key companies operating in this market are introducing innovative technologies to increase the performance & efficiency of their products, and improve customers’ experience. They are designing hair blowers equipped with cutting-edge features, such as Bluetooth connectivity, automatic shut off, and heat sensors to make the product’s use convenient for customers. These initiatives are expected to help the companies dominate the market.
Notable Industry Development:
November 2020: Koofex, a reputed beauty appliance firm, announced the launch of a new range of hair blowers, which were showcased at the B2B international beauty trade show ‘Cosmoprof Asia Digital Week’.
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