The hair dryer market has been growing at a steady pace due to the rising focus of consumer towards grooming and hairstyling. A hair dryer is an essential grooming device used to dry wet hair faster after washing or bathing. It blows heated air through hair to evaporate water quickly. Hair dryers provide several advantages such as reduced drying time, better styling and shaping options as compared to air drying. With growing fashion consciousness and influencer culture, consumers are increasingly experimenting with different hairstyles which has fueled the demand for hair dryers.
The Global hair dryer market is estimated to be valued at US$ 2.3 Billion in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the hair dryer market are Panasonic, Conair, Dyson, Philips, Revlon, Braun, Tescom, Drybar, Remington and BaByliss.
Hair Dryer Market opportunities in the market include introduction of innovative features like ionic technology, tours de force and different speed settings in hair dryers.Growing online retail channels and e-commerce platforms are also boosting the sales of hair dryers globally.
The hair dryer market is witnessing significant growth in regions like Asia Pacific and Latin America. The growth can be attributed to rising spend on personal grooming, growing middle-class population and expanding retail infrastructure in developing countries.
Market Drivers
One of the key drivers for the growth of hair dryer market is the increasing disposable income of consumers and their focus on personal appearance around the world. The growing working women population has also fueled the sales of hair dryers as it helps them save time on styling. Additionally, continuous product innovations with technologies like ceramic coils and tourmaline crystals for reduced frizz and heat damage have driven the adoption of hair dryers.
PEST Analysis
Political: Regulations regarding safety standards for hair dryers across various countries. Stringent norms regarding energy efficiency of appliances.
Economic: Rising disposable incomes and growing purchasing power boosting the sales of premium hair dryers. Increase in the number of salons and beauty parlours also fueling market growth.
Social: Growing population of working professionals and busy lifestyles driving the demand for quick and convenient haired styling appliances like hair dryers. Increasing hair styling and grooming awareness especially among younger generation.
Technological: Innovation bringing compact, lightweight, and advanced hair dryers with various extra features like ionic technology, different speed and heat settings etc. Adoption of cordless hair dryers gaining traction.
Regions with Concentrated Market Value
North America accounts for the largest share of the global hair dryer market in terms of value. Easy availability of various styles and types of hair dryers along with high purchasing power of consumers in the US and Canada backing the market growth. The region witnesses high demand for premium hair dryers with innovative features.
Fastest Growing Regional Market
Asia Pacific region is projected to register the fastest growth during the forecast years. Rising disposable incomes, improving living standards, and busy lifestyles driving the need for quick and convenient hair drying appliances especially among youth. Proliferation of salons and increasing importance given to personal grooming also fueling market expansion across developing nations like China and India.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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