Press release
Hair Dryer Market touched USD 7.6 billion in 2021 and will grow at 5.2% CAGR during 2022-2029 | Size, Share, Analysis & Forecast
Hair Dryer Market
Hair Dryer Market was valued at USD 7.6 billion in 2021 and forecast to reach USD 11.4 billion in 2029 growing at a 5.2% CAGR
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/hair-dryer-market/
The factors driving the growth of Hair Dryer Market includes rise in the number of professional salons and spas around the world, growing demand for lightweight hair dryers, increasing popularity of smart hair dryers and introduction of innovative hair dryer products. According to the report published by Statista, the market size of hair saloons in the United States has risen from USD 46.5 billion in 2019 and is expected to reach USD 47.4 billion in 2021, which will accelerate the Hair Dryer Market size in the approaching years. Moreover, availability of wide range of hair dryers at social media platforms, increasing use of advanced technologies to manufacture hair dryers, growing influence of social media platforms such as Instagram and YouTube and hectic lifestyles, are some of the additional factors supplementing the Hair Dryer Market share. In addition, the increasing investments by major corporations on research and development, rise in the working-class population across the globe, rapid urbanization, growing disposable incomes and improvements in the living standards, are further contributing to the market growth.
However, the growth of Hair Dryer Market is hindered due to availability of counterfeit products in China and India.
The prominent players operating in the Hair Dryer Market includes Drybar, Revlon, Beauty Elite Group, Conair corporation, Panasonic, Phillips, Tescom, Remington, Dyson, and Sharp Corporation, among others.
Based on Application, the Professional segment is predicted to capture the largest market share during the forecast period
As per the Hair Dryer Market Analysis, rise in the launch of innovative products and growing demand for smart hair dryers, are propelling the growth of the segment.
Based on Distribution Channel, the Online segment is projected to dominate the market over the forecast period
Online stores offer wide range of hair dryer products, provides attractive discount offers to their regular customers and are open 24*7 along with increase in internet penetration rates worldwide, are some of the factors responsible for the segment's growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Rising influence of western culture on the Asian society, growing consciousness amongst consumers about their physical appearance, increase in the number of hair saloons and beauty spas, rapid urbanization, and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Key Developments
In 2021, Panasonic introduced Panasonic nano Hair Dryer, which minimizes hair damage from everyday brushing and can be adjusted as per the temperature.
Market Segmentation
Segmentation by Product
Corded
Cordless
Segmentation by Application
Professional
Individual
Segmentation by Distribution Channel
Offline
Online
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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