Rising Investment by Companies and a Surge in the Working Women Population has Propelled the Growth of the Hair Care Appliances Market in the Asia Pacific Region!
- Himanshu Patni
- July 13, 2023
- CONSUMER GOODS, NEWS
- Hair Care Appliances Market
- 0 Comments
The Asia Pacific market is expected to register highest growth rate in the forecast period due to rising disposable income, changing fashion trends, and increasing awareness about hair care products and tools. Furthermore, the increasing spending on personal grooming in South Asian nations, including Japan, and Australia, is significantly contributing to the growth of the market. Several key global players, including Dyson, Panasonic, Philips, and others have made significant investments in Asia Pacific region. For instance, in 2019, Dyson planned to open its center in Singapore.
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Further, the Asia Pacific Hair Care Appliances Market is expected to grow at a strong CAGR of 7.2% during the forecast period (2022-20230). The demand for hair care appliances in countries like China, India, and Japan is driving the demand for hair care appliances in the region. Japan’s hair care appliances market is witnessing an uptick due to the increase in the number of working women. According to World Bank Data, in 2022, the labor participation rate of women in Japan was highest among those aged 25 to 29 years old, reaching almost 88%. At the same time, over 82% of the female population in the age group of 45 to 49 years was in the labor force. Moreover, the Japanese market has seen several strategic alliances, which are also having a positive impact on the market’s growth. For instance, in December 2021, L Catterton, made a strategic investment in Ci FLAVORS, which owns Cosme Company, a leading multi-brand beauty and personal care company in Japan focused on haircare and skincare. The firm will partner with Ci FLAVORS’ management team to bolster the Company’s growth through strategic initiatives such as enhancing new brand development and accelerating international expansion.
Based on the product, the market is segmented into flat iron, hair dryer, hair curler, hot brush, and multi-purpose appliances. In 2021, the hair dryer segment dominated the global market as they are essential tools for personal as well as commercial purposes. Moreover, with the rise of social media and the beauty industry, people are more conscious about their appearance, thus driving the demand for hair dryer. In addition to this, manufacturers have been continuously innovating and improving their hair dryer products, thus propelling the growth of the segment in the forthcoming years. For example, in November 2020, Xiaomi launched a hair dryer priced at RMB 99 (USD 15), which has become a best-seller on e-commerce platforms.
By mobility, the market is segmented into portable and non-portable. The non-portable segment is expected to grow with significant CAGR during the forecast period. In comparison to portable, these have enhanced power and performance, allowing them to provide professional-grade results. For example, a large hair dryer can provide high heat and airflow to dry hair quickly and efficiently, while a large curling iron can create tight curls which can last for hours.
Based on application, the market is bifurcated into commercial and personal. The personal segment held a significant share of the market in 2021. The utilization of hair dryers has become fairly common in developed countries-and generally in urban households. Growing urbanization across the globe has contributed to the rising sales of hair dryers for personal use. According to World Bank data, the global urban population grew from 3.57 billion in 2010 to 4.36 billion in 2020.
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on end user, the market is bifurcated into women and men. The men is anticipated to grow with significant CAGR during the forecast period. The demand for hair care appliances among men is growing with the increase in awareness regarding personalized products. According to the survey by L.E.K. in the US in 2021, 26.0% of all men purchase their personal care products instead of having a significant other or family member do it for them. With growing consumer inclination for specific grooming products is expected to witness significant demand over the forecast period. Increasing investments in the research and development of products, coupled with the rising trend of natural ingredient-based products, have encouraged manufacturers to launch new products.
Global Hair Care Appliances Market Segmentation
Market Insight, by Product
· Flat Iron
· Hair Dryer
· Hair Curler
· Hot Brush
· Multi-Purpose Appliances
Market Insights, by Mobility
· Portable
· Non-Portable
Market Insights, by Application
· Commercial
· Personal
Market Insights, by End User
· Men
· Women
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe
· APAC
o China
o Japan
o India
o Rest of APAC
· Rest of the World
Top Company Profiles
· Dyson
· Revlon
· Jemella Ltd
· Conair LLC
· CLOUD NINE
· Koninklijke Philips N.V.
· KISS PRODUCTS INC.
· Spectrum Brands, Inc.
· Drybar, LLC
· INSTYLER
