A report dispenses the professional and an in-depth analysis over the growth prospects of the hair dryer industry accompanied with the integrity of logic and the comprehensiveness of contents that is substantially guaranteed to enrich the report reader who is either an industry insider or investor, with the elaborative and extensive data analysis. The data ranges from macro overview of the market to micro details of the industry performance, manufacturing requirements, project cost, project funding, expected returns on investment, etc.
Report progresses with a detailed incisive analysis involving the basic overview of the industry supported by particulars regarding its definition, classifications, applications, development policies and plans, manufacturing processes, cost structures, import/export, supply and consumption figures, price, revenue and gross margin by regions, company profiles, product specification, capacity, production, upstream raw materials, equipment, and downstream consumers analysis is also carried out. Moreover, the analysis is provided for the international market including development history, competitive landscape analysis and major regions development status.
Largely urban consumers with becoming much more style conscious are getting erratically brand and quality conscious as well, which is further driving the hair dryer industry growth invariably. Moreover, a good presentation is said to be associated with competitiveness at work, and this explains the massive growth in demand for hair dryer appliances in emerging markets, and high level of innovation and R&D in saturated markets like that of Europe, North America, and others. Technological advancements and growing awareness among consumers are the other encouraging consumers to shift from manually operated tools to electricity or battery operated appliances for hair care such as the hair dryers. Distribution channels inclusive of direct selling, e-commerce, departmental stores and supermarkets also play an essential role in increasing the revenues of the companies. In order to expand their offerings and to tap potential consumer segment, the companies adopt various distribution channel models.
The Global Hair Dryer market can be segmented on the basis of product type, market application, varied price ranges such premium, mid-size, and low price range and end user segments. The market segment for hair dryers exhibits mature product cycle in the developed economies with a strong market in the emerging economies. The market is categorized based on region into North America, Europe, Asia-Pacific, and LAMEA amongst which North America is the leading revenue contributor to the global market, and is expected to maintain its dominance till the next few years. However, with the continuous improvement in standards of living and untapped market in the developing regions such as the Asia-Pacific and LAMEA has posed lucrative opportunities for the market players to expand their foothold in the area during the upcoming years. These regions are expected to grow at the highest CAGR during the same period.
Given the facts that the world economy enlarged by just 2.2 per cent in the year 2016, and is anticipated to further extend by only 2.7 per cent in 2017 and reach till 2.9 per cent in 2018, it is contemplated as a state of stagnant growth. It is not to say, that the market growth is impeded, but rather it’s moving on a very sedating pace of recovery indicating the state of economic stabilization for the present as well as the future rather than a robust revival of global demand. Moreover, the correspondence between the demand, investment, trade and productivity coupled with the weak global growth may prove to be self perpetuating for the Hair Dryer industry.
In line with the future prospects, certain technological breakthroughs may make new types of hair dryers possible. Apart from it, one of the most interesting areas for future development of hair dryers really has nothing to do at all with hair. Many creative and imaginative consumers have identified the multiple uses of a single hair dryer as that of removing chewing gum from hard surfaces and helping to dry nail polish. However, the manufacturer’s response by marketing hair dryers for these specific uses is yet to be seen.
Restraints And Drivers
The significant drivers identified behind boosting the hair dryer market include increasing urbanization, increase in geriatric population, growth in GDP value, increasing style consciousness, consciousness of the benefits provided by the appliance, increasing spending habits of people, increasing e-commerce sector and the popularity of the product are driving the hair care market growth extensively. Influence of western lifestyle over the developing countries is further expected to fuel the adoption of hair dryer appliances in the regions. However, lack of durability, lack of awareness regarding novel products, high costs, essential R&D spend, intense domestic and international competition, and saturated western markets are the major identified restraints hampering the growth of the hair dryer market. These issues along with appliance failure due to reasons such as problems in blade heads, motors, and other electronic components have hampered the growth of the market. However, the impact of this restraint is expected to reduce during the next few years with further innovative developments.
The key players identified as playing significant role in the growth and development of the hair dryer industry include PHILIPS, Panasonic, Kangfu, FLYCO, TESCOM, Midea, RIWA, Dyson, Solis, and POREE. These companies are further focusing on the innovative development of the product in addition to its creative brand reinforcement.