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Electric Hair Clipper And Trimmer Market Report 2024 - Hair Clipper Market Growth, Demand, And Opportunities
Electric Hair Clipper And Trimmer Market
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According to The Business Research Company's, The electric hair clipper and trimmer market size has grown steadily in recent years. It will grow from $5.38 billion in 2023 to $5.6 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to user reviews and recommendations, versatile multipurpose tools, environmental considerations, influence of trends and media, customizable styling options.
The electric hair clipper and trimmer market size is expected to see steady growth in the next few years. It will grow to $6.42 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to continued grooming emphasis, wireless and cordless preferences, diy haircare and home grooming, professional use and salons, ergonomic design. Major trends in the forecast period include user reviews and recommendations, versatile use cases, environmental sustainability, male grooming market growth, brand innovation and competition.
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Market Drivers and Trends:
An increase in disposable income is driving the electric hair clipper and trimmer market. The disposable income is the total amount of household income available to spend and save after paying income tax. The use of electric hair clippers and trimmers has seen a notable uptick with the rise in disposable income among consumers. As individuals experience an increase in their discretionary spending capacity, there is a growing inclination towards investing in personal grooming products, including advanced and feature-rich electric hair clippers and trimmers. For instance, in 2023, according to an article published by the Office of National Statistics, UK-based executive office of the Statistics Authority published an article that said, median household disposable income increased by an average 0.7% per year between the year 2020 and 2022. Therefore, an increase in disposable income is driving the growth of electric hair clipper and trimmer market.
Technological advancements have emerged as a key trend gaining popularity in the electric hair clipper and trimmer market. Electronic device development and innovations progress the industry's demand for electric hair clippers and trimmers. The market is witnessing the implementation of compact, water-resistant, high torque-motored, cordless, and higher power outage products. For instance, in April 2022, Wahl Clipper Corporation, a US-based company operating in the electric hair clipper and trimmer market launched the Wahl Cordless Pro Clipper, a cordless hair clipper that uses advanced lithium-ion battery technology to last longer and delivers the necessary power for hair cutting. Its powerful lithium-ion battery technology provides up to 2 hours of power with quick charging technology, and a smart-charge technology display light displays battery condition. Furthermore, the clipper motor provides power and stroke for smooth, snag-free haircutting while operating silently.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Koninklijke Philips N.V., Wahl Clipper Corporation, Spectrum Brands Holdings Inc., The Procter & Gamble Company, Panasonic Corporation, Conair Corporation, Sunbeam Products, Havells India Limited, Xiaomi Corporation, Andis Company Inc., Zed Lifestyle Pvt Ltd., Syska LED Lights Private Limited, Brio Product Group, General Electric Company, Remington Rand OF India Ltd., Oster India Private Limited, Babyliss Ltd., Hatteker, Braun GmbH, Riwa Ltd., Surker, Yichang Gemei Trading Co. Ltd., Hangsun Electronics Ltd., Flyco Auto Pvt. Ltd., Yiwu Kemei Electric Appliances Co. Ltd., Bevel Tech Group, Inalsa Appliances Limited, Vector Group Ltd., Laiwu Gemei Advertising Co. Ltd., Floresta Real India Pvt. Ltd.
Electric Hair Clipper And Trimmer Market 2024 Key Insights:
• The electric hair clipper and trimmer market size is expected to see steady growth in the next few years. It will grow to $6.42 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%.
• Exploring The Soaring Demand For Electric Hair Clippers And Trimmers In The Consumer Electronics Era
• Technological Advances Shaping The Future Of Electric Hair Clippers And Trimmers
• North America was the largest region in the electric hair clipper and trimmer market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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