Personal Care Electrical Appliances Market Size is Set to Grow at a Remarkable Pace in the Coming Years

Personal Care Electrical Appliances Market is expected to garner $28,007 million by 2022.The hair care appliances segment is estimated to dominate this market throughout 2016 - 2022. North America accounted for around two-fifths share of the market in 2015.

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Growth in ageing population, improving economic conditions, increasing awareness regarding personal grooming, inclination towards automation, and growing online sales are factors that drive the market growth. In addition, growing urban population and increasing demand from untapped markets such as Asia-Pacific and LAMEA are anticipated to further drive the demand for the personal care electrical appliances market. However, lack of durability and high cost of the products limit the market growth.

Trimmer was the leading revenue contributor to the global hair removal appliances segment owing to its established market status and historical trend of trimmed beard. Epilators and shavers together contributed around 47% share in 2014 and would grow at a CAGR of 10.2% and 10.8% respectively during the forecast period. Epilators have a different mode of action as that of shavers. They do not remove the hair from surface, rather pluck off hair strands from their roots. This gives a permanent solution as compared to shaving. Therefore, men use shavers for facial hair, whereas women prefer epilators. The availability of substitute products, such as hair removal creams, and others act as replacements for epilators; thereby, limiting their growth. Consumers shift from creams and other hair removal methods to epilators is expected to be gradual in untapped markets of the Asia-Pacific and LAMEA regions.

Personal care electrical appliances are used by both men and women. Female buyers have a higher share in hair care products, whereas males dominate the shavers market. The female customers segment is expected to outpace the male customers segment in the near future. However, the male customers segment would generate a notable revenue by 2022 growing at a CAGR of 8.6% during the forecast period.

Key Findings of the Personal Care Electrical Appliances Market:
1. In the year 2014-2015, hair care appliances segment led the overall personal care electrical appliances market revenue, and is projected to grow at a CAGR of 7.7%.
2. Oral care appliances is expected to be the third highest revenue-generating segment by 2022 and would grow at the highest CAGR of 11.4% during the forecast period.
3. Hair stylers is anticipated to be the fastest growing market segment for the hair care appliances market and is projected to grow at a CAGR of 10%.
4. North America generated the highest revenue, among all regions in 2014, and would dominate the market throughout the forecast period.

The key players in the personal care electrical appliances market focus on expanding their business operations in the emerging countries with new product launch as their preferred strategy. The major players profiled in this report include Remington Products Company, Procter and Gamble (Braun GmbH/Oral B), Conair Corp., Royal Philips Electronics NV, Panasonic Corporation, Groupe SEB, Colgate-Palmolive, Helen of Troy L.P, HoMedics Inc., and LION Corp.

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