The global hair styling tools market is forecasted to register a CAGR of 5.9% by 2024.
- The market for hair styling tools has witnessed a significant growth following the surge in rising expenditure in hair grooming and styling globally. Major players are continuously involved in introducing novel products that enable individual consumers and professionals salon operators to create new looks.
Scope of the Report
Global hair styling tools market report is segmented by type, by distribution, and by geography. By type, the market is segmented into Hair Dryers, Hair Curlers & Rollers, Hair Straighteners, Hair Styling Brushes & Combs. By Distribution, the market is segmented into Online Retail and Offline Retail and by geography, the market reveals the major countries, the consumption scenario, and the country, where the market is progressing.
Key Market Trends
Demand for Light Weight Hair Styling Equipment
The rising requirement of hair styling tools, largely, across professional salons followed by the personal use segment has led to strong growth in the lightweight and compact hair styling equipment. The products are phased with unique designs that provide ergonomics advantage as well as instigating the ease for consumers to carry during traveling. Furthermore, the growing reliance on using personal products which combine both the aspect of "daily use" and are "travel size" have witnessed a strong uptick over the recent years. Consumers, in order to replicate the style statements followed by professional salons, are expected to push the demand for lightweight hairstyling equipment over the forecast period.
Asia Pacific as the fastest growing region
Owing to rising sales in the Asia-Pacific region with a high-income population which has led to an increasing appetite among the growing middle-class segment is likely to be one of the foremost factor scaling the demand. The regional demand is largely catered by the influx of fashion industry, having a strong foothold across China, Japan, and South Korea among others. Innovation in terms of size, design, use, and implementation of social media marketing are some of the key trends, likely to propel the market growth further.
The 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, Andis, 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.
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