Personal Care Electrical Appliances Market will witness a CAGR of 7.1% through 2022
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, the 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.
The hair care appliances segment accounted for over two-fifths of the global personal care electrical appliances market in 2015, owing to the influence of western lifestyle on the population of developing and untapped regions. The hair straightener sub-segment was the leading revenue contributor to the global hair care appliances market in 2014, accounting for more than 43% share, and is further expected to dominate the market throughout the forecast period, growing at a CAGR of 7.1% from 2016 to 2022. The hair stylers segment is the fastest growing market, registering a CAGR of 10.0% from 2016 to 2022. This is attributed to the growing inclination of women towards styled hair rather than straightening.
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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.
Electric toothbrush is the primary product under the oral care appliance segment that dominates the market. Plaque removers are electric toothbrushes with a rotatory brush head especially made to remove plaque. Plaque removers have gained importance among people with periodontal issues, while the device is not common among buyers. In 2014, powered toothbrush was the leading revenue generator in the oral care segment, and is projected to dominate the market throughout the analysis period.
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.
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The small domestic equipment market is the parent market for personal care electrical appliances, and the prevailing trend in this business area has a similar impact on the personal care market. The global market for personal care electrical personal care appliances has witnessed steady growth, and is expected to maintain this trend throughout the forecast period. The Asia-Pacific, Middle East, and Africa are expected to exhibit incremental growth during the forecast period due to growing awareness and rising disposable income. Brazil, Russia, India, and China (BRIC) are the countries with the highest growth potential during the forecast period. As per the present market scenario, North America generated the highest revenue in 2014, accounting for around two-fifths of the market value, and is expected to dominate the market throughout the analysis period. Asia-Pacific is projected to be the fastest growing market registering a CAGR of 13.4% from 2016 to 2022.
Key findings of the Personal Care Electrical Appliances Market:
• 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%.
• Oral care appliances are 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.
• 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%.
• North America generated the highest revenue, among all regions in 2014, and would dominate the market throughout the forecast period.
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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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