The Global Hair Styling Tools Market- Forecast, Trends and Impact of Covid-19
The global hairstyling tools market has been segmented based on Type (Manual, Electric: Dryers/Blowers, Straighteners, Curlers, Other (Hair crimpers, Hot Brush) , by Application (Household, Commercial), by Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Retail Stores, Other: Salons, Departmental stores), by Region (North America, Europe, Asia Pacific and Rest of the World)
Introduction
The global hair styling tools market is a contributing segment of the global haircare products market. From a top-down perspective, Strategy Here has analyzed the global haircare products market as a parent market to set the context in which the global hair styling tools market will be analyzed.
The market for hair styling tools has seen substantial growth after the increase in expenditure on hair grooming and styling globally. Major players are continuously involved in introducing novel products that enable individual consumers and professional salon operators to create new looks.
The rising requirement of hair styling tools primarily hair straighteners, largely, across professional salons followed by the personal use segment has led to strong growth in the lightweight and compact hair styling equipment among consumers under different demographics.
Table of Contents
Market Overview
The Global hair styling tools market is expected to grow to $39.63 billion by 2027.
Growth momentum is expected to accelerate during the forecast period with 3.5% CAGR.
The hair styling tools market is registering high market growth due to the awareness of harmful chemicals in hair products and their convenience.
Asia-Pacific is estimated to be the fastest growing market in the forecast years
Key Trends
Manufacturers are increasingly looking to develop smart high end technology like better connectivity, smart sensors to track hair moisture levels.
Companies are also introducing tools that have multiple functionalities built into one, such as the TYME Iron Pro.
Key Market Players
The global hair styling tools market is entirely focused on business to consumer where major players in the market include: Philips N.V, Helen of Troy, Panasonic, TESCOM, Andis, Beauty Elite Group, Bio Ionic, WAHL, Dyson, Elchim, Farouk Systems, Spectrum Brands among others.
The market is moderately competitive with the presence of local manufacturers at large. Product innovation along with expansion is one of the key strategies that global players are adopting in order to stay ahead among competitors.
Growth Drivers and Challenges
Rising awareness about the harmful effects of chemicals and synthetic hair care products are a couple of factors driving the growth of this market.
The growing need for grooming and personal care is also a factor driving growth.
Increasing adoption of advanced technology to create modern and smart products is also driving market growth in a big way.
High cost of electric hair styling tools is likely to hamper market demand and limit penetration of straighteners and curlers into emerging markets.
The emergence of cheaper counterfeit products that are being dumped into developing markets are restraining growth of branded products, thus posing a challenge for them.