Pune, India, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global hair styling products market size is expected to reach USD 39.63 billion by 2027 while exhibiting a CAGR of 3.7% between 2023 and 2027. This is attributable to the presence of younger generation that drives the demand for advanced smart hair styling tools across the globe. Fortune Business Insights, in its latest report, titled, “Hair Styling Tools Market Size, Share & Industry Analysis, By Product Type (Manual and Electric (Dryer, Straightener, Curler, and Others)), Application (Household and Commercial), Distribution Channel, and Regional Forecast, 2023-2027.”, mentions that the market stood at USD 30.09 billion in 2019 and is projected to showcase an exponential growth in the forthcoming years.
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List of Key Players Profiled in the Hair Styling Tools Market:
- Koninklijke Philips N.V., (Amsterdam, Netherlands)
- Spectrum Brands, Inc. (Middleton, U.S.)
- Dyson Ltd. (Malmesbury, U.K.)
- Conair Corporation (Stamford, U.S.)
- Panasonic Corp. (Osaka, Japan)
- Coty Inc. (New York, U.S.)
- Procter & Gamble Co. (Ohio, U.S.)
- Helen of Troy Ltd. (Bermuda, U.K.)
- WAHL Clipper corp. (Illinois, U.S.)
- Hamilton Beach Brands (Virginia, U.S.)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 3.7% |
| 2027 Value Projection | USD 39.63 Billion |
| Market Size in 2019 | USD 30.09 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 160 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Hair Styling Tools Market Growth Drivers | Increasing Awareness of Adverse Chemical Treatment Reactions to Boost Demand for Hair Appliances |
| Increasing Adoption of Smart Styling Tools to Augment Market Growth |
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Segments:
Hypermarkets/Supermarkets Held a 42.82% Market Share in 2019
The hypermarkets/supermarkets segment, based on the distribution channel, is anticipated to gain momentum backed by the large availability of grooming products and hair styling tools across stores globally. The segment held a market share of about 42.82% in 2019.
Report Coverage:
The market report includes a detailed assessment of various drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive insights into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market strongholds between 2020 and 2027.
COVID-19 Impact:
The enforced lockdown has resulted in the complete halt of operations that has led to unprecedented economic loss across the globe. To contain the spread of the novel coronavirus, people have been advised to stay confined at home spaces. Additionally, the government has ordered the shutdown of various shops and establishments including hair salons and grooming services. This is hindering the market growth to some extent. However, the increasing focus on developing innovative portable hair styling tools by the manufacturers will favor market growth in the near future.
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Driving Factors
Presence of Gen X to Surge the Adoption of Innovative Hair Styling Tools
According to the U.S. Census Bureau, the millennial population has surpassed the baby boomers as the largest living adult generation in the U.S. The high presence of the younger population is propelling the demand for premium grooming products. Additionally, increasing spending on personal care services by the Gen X is expected to drive the demand for advanced hair styling tools during the forecast period. The manufacturers are further adopting advanced technology to develop smart personal care products that will contribute to the growth of the global hair styling tools market during the forecast period.
Regional Insights:
Europe to Remain at the Forefront; Increasing Number of Hair Salons to Augment Growth
Among all the regions, Europe is expected to remain dominant and hold the highest position in the global hair styling products market. The dominance is attributable to the increasing number of hair salons and the growing adoption of advanced smart hair styling tools in the region.
The market in Asia-Pacific is expected to showcase considerable growth backed by the surging demand for innovative grooming products owing to the presence of a younger population in South Asian nations in the region between 2020 and 2027.
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Detailed Table of Contents:
- 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
- By Product Type (Value)
TOC Continued…!
Key Industry Developments:
- January 2020 – Helen of Troy acquires Drybar Product LLC, a trendsetting hair care and styling brand. According to the company, the acquisition is expected to strengthen its position in the multi-million dollar beauty industry.
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