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 2020 and 2027. The presence of younger generation in various parts of
the world is likely to drive the demand for advanced smart hair styling tools. 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, 2020-2027,” states that the market
stood at USD 30.09 billion in 2019
and is projected to exhibit an astonishing growth in the near future.
List of the
Companies Profiled in the 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.)
What does the Report Include?
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, partnership, merger and acquisition, and collaborations adopted by
the companies to maintain market stronghold between 2020 and 2027.
DRIVING
FACTORS
Presence of
Gen X to Surge the Adoption of Unique 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. Several
manufacturers are further adopting novel technologies to develop smart personal
care products that will contribute to the growth of the global hair styling
tools market during the forecast period.
Read Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/hair-styling-tools-market-103986
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
a 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.
COMPETITIVE
LANDSCAPE
Merger and
Acquisition by Major Companies to Expand Portfolio
The market is experiencing massive
competition from the major companies focusing to maintain their stronghold.
They are doing so by acquiring other companies to develop advanced hair styling
tools and further striving to expand their product portfolio. Apart from this,
key players operating in the market are adopting strategies such as partnership,
the introduction of new products, and collaboration to maintain their presence
in the global marketplace.
Industry
Development:
- 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.
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-hair-styling-tools-market-10262
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