The Global "Hair Dryers Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).
Hair Dryers are used basically to dry out the wet hair quickly, but with introduction of tourmaline hair dryers in the market has found new applications like to maintain the hairs in a controlled and desired manner which makes hairs look more appealing. Increasing desire and consciousness to look good among people will drive the market for Hair Dryers during the forecast period. Whereas the availability of products for different types of hair and the entry of new tourmaline Hair Dryers specially designed to style the hair have also increased the demand prominently.
The global Hair Dryers are primarily driven by an increase in internet penetration in the developing countries such as China, India, And Brazil, etc. This has enabled huge market potentials for e-commerce businesses. These E-commerce businesses provide convenience and easiness for shopping to consumers who want to buy beauty and personal care products and devices such as Hair Dryers through online shopping portals. And the other factor that is boosting the hair market is the increasing disposable income of the people all around the world and growing consciousness to look good among people.
However, the high availability of counterfeit products in the Asia-Pacific region especially in countries like China and India has hampered the growth of the Hair Dryers market. Counterfeit products are fake or unauthorized replicas of the real product, that take advantage of the superior value of the real product.
By product type, the global Hair Dryers is segmented into Handheld hairdryer and Hooded hairdryer. Handheld hair dryer type has the dominant position in the Hair Dryers and is expected to retain its dominance in the forecasted period, due to ease of usage. However, due to increase in salon chains the demand for Hooded hair dryers has increased globally. It is expected that Hooded hairdryer will grow at a CAGR of ~XX% during the forecast period.
By distribution channel, the global haircare product Market is segmented into online and offline distribution channels. Offline distribution channel includes Supermarkets, Specialty stores like Sephora and Nykaa, exclusive stores, saloon & spa, and hypermarkets, while online distribution channel includes distribution through e-commerce platforms.
By geography, the global Hair Dryers are segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
Asia-Pacific (APAC) holds the largest market share for Hair Dryers. Due to internet penetration in most developing countries like China, and India has made APAC to hold most of the market share. However, Middle East and Africa are after APAC in terms of market share of Hair Dryers, increase consciousness for grooming among people has led to rising in demand for the hairdryer.
In APAC, China and India are the major market holding countries due to the population and the effect of the internet penetration in these developing countries.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Hair Dryers is a fragmented market with the presence of various global and regional players in the market. The major players include Conair Corporation, Dyson, Koninklijke Philips, Panasonic, and TESCOM. Other key players in the market include Kangfu, Beauty Elite Group, VOLO Beauty, Farouk Systems, Solano International, Bio Ionic, and John Paul Mitchell System.
In April 2018, Dyson has launched the new Dyson Supersonic hair dryer professional edition. This new machine is designed to tackle some of the intrinsic issues with conventional hair dryers while providing professional hairstylists with a machine engineered for their needs. The Dyson Supersonic hair dryer professional edition uses a fast but focused airflow for precise styling, with the temperature of the airflow constantly measured to prevent extreme heat damage.
In August 2016, Dyson is planning to invest $400 million to develop at least 100 new products by 2020, nearly double what it now has on the market and equivalent to the number of products introduced since its founding. Dyson has its only lab for research named D9. The latest wonder from this lab is the Supersonic blow-dryer. And as spent $71 million on developing Supersonic blow dryer.
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