- Notable brands in the global personal care appliances market are concentrating on developing innovative products to bolster their general presence. Moreover, they are trying to introduce technologically sound products that will attract more number of users
- The growing spending power of people is another factor that is working in favor of the market growth
ALBANY, New York, Feb. 17, 2020 /PRNewswire/ -- A new research report published by Transparency Market Research is expecting the global personal care appliances market to grow at a steady pace of ~ 3% CAGR for the forecast period from 2019 to 2027. With this rate of growth, the valuation of personal care appliances market will rise up to around US$111 bn by the fall of 2027. In 2018, the initial valuation of the global market was around US$82.8 bn. The research report provides great insight on the factors that are influencing the growth of the market and detailed information on the overall working dynamics.
"Leading manufacturers in the global personal care appliances market are now introducing innovative products to improve their popularity. Moreover, growing concerns about personal health is also inspiring these companies to come up with technologically sound products", finds TMR analyst.
Key Findings in the Research Report
The global personal care appliances market is broadly segmented in terms of product, end user, distribution channel, and region.
Based on product, the market is further segmented into trimmers, shavers, hair dryers, hair straighteners, epilators, and others. Of these, the segment of trimmers is experiencing a high technological growth. The research report expects the trimmers segment to reach an output of around 500 million units by the fall of 2027. The segments is thus expected to witness a promising growth in the near future.
The segment of hair dryers is also expected to witness good growth in the near future. The companies in the market are trying to produce less intrusive hair dryers to attract more number of customers.
In terms of end-user the global market is further segmented into men, women, and children. Both the segments of men and women are expected to have a stable rate of growth in the coming years of the forecast period.
In terms of distribution channel, there are two main sub-segments i.e. online and offline. The offline segment has traditionally been the dominant one. However, with increasing penetration of the internet and increasing trend of online shopping, the online segment of distribution channel is expected to witness a promising growth.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Personal Care Appliances Market by Product: Trimmers, Shavers, Hair Straighteners, Hair Dryers, Epilators, and Others; End User: Men, Women, and Children; and Distribution Channel: Online [e-Commerce Website and Company Website] and Offline [Hypermarkets & Supermarkets, Specialty Stores, and General & Pharmaceutical Stores]at https://www.transparencymarketresearch.com/personal-care-appliances-market.html
Global Personal Care Appliances Market – Key Driving Factors
Increasing disposable income of customers is allowing them to purchase luxury items and other personal care products. This has been the one of the primary factor for the development of the global personal care appliances market.
A key trend that has been observed in the market is of increasing awareness about oral hygiene. This has prompted increasing sales of electric toothbrushes across the globe.
Increasing exposure to social media where celebrities and other social media influencers promote or market the product has substantially helped the development of the global market. People have become more aware about the benefits of these products and want them for their personal use.
Another key factor for the development of the market growth is the growing demand from the younger generation. This particular pool of customers is highly tech savvy and are easily attracted to new and innovative products.
Global Personal Care Appliances Market – Key Restraining Factors
One of the major restraining factor for the slowdown of the global market for personal care appliances is availability of cheap alternatives such as cosmetic wax, razors, and shaving blades.
Moreover, the growth of the market is also being hampered due to increasing number of local manufacturers. Due to the easy availability of cheap and rip-off of premium products, the market growth is may take a hit in the near future.
Another important challenge in front of the global personal care appliances market is the lack of durability of these products. Premium products are extremely expensive and the affordable ones lack longevity. This lack of balance is hampering market growth.
Global Personal Care Appliances Market – Geographical Outlook
In terms of geographical segmentation, the global personal care appliances market is expected to be dominated by the region of Asia Pacific. Expanding consumer base, wide range of demands, increasing spending power of these consumers, and solid distribution channels are some of the key reasons behind the growth of the Asia Pacific region.
Due to the above mentioned factors, the leading companies in the market are also moving their bases to the Asia Pacific region, that too in India and China in particular. These emerging economies are expected to present much higher levels of growth opportunities than the already matured markets.
Analyze Personal Care Appliances market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Personal Care Appliances Market – Competitive Landscape
The vendor landscape of the global market is quite fragmented due to presence of several notable players. The companies are expected to focus more on research and development of new and innovative products. Some of the key companies in the global market are Koninklijke Philips N.V., Procter & Gamble, Wahl Clipper, Panasonic Corporation, Conair Corporation, Spectrum Brands, Inc., Groupe SEB, Andis Company, Havells India Ltd., and Helen of Troy.
Global Personal Care Appliances Market: Segmentation
Personal Care Appliances Market, by Product
Personal Care Appliances Market, by End User
Personal Care Appliances Market, by Distribution Channel
Household Cooking Appliances Market– Home cooking appliances play a major role in the domestic life of an individual and have become an important part of the modern kitchen. Increased demand for consumer goods, specifically for household cooking appliances is expected to be highly influenced by the advancing technology globally.
Smart Kitchen Appliances Market– Global smart kitchen appliances market size was valued US$ 2,725.5 Mn and expected to grow with a CAGR of 25.5%. In the end of 2027, the market is forecasted to reach US$ 8,501.1 Mn in 2027.
Organic Personal Care Products Market – Rapid increase in usage of organic personal care products in various parts of the globe in projected to create significant opportunities for the manufacturers & distributors in the near future. After exhibiting considerable growth in the food and beverages industry, the practice of manufacturing organic products have penetrated into the personal care industry
Luxury Personal Care and Cosmetics Market – The demand for luxury personal care and cosmetics market has escalated in the past few years on account of rising purchasing power of consumers. Transition in the lifestyle of the consumers is a key element for the surge in the demand for such products, especially in the developing regions such as Asia Pacific.
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