NEW YORK, Feb. 23, 2023 /PRNewswire/ -- According to Technavio, the global hair dryer market size is estimated to grow by USD 1,962.02 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.01% during the forecast period. APAC is estimated to contribute 38% to the growth of the global market during the forecast period. For more insights on the historic (2017 to 2021) and forecast market size (2022 to 2027)  Request a sample report

Leading trends influencing the market 

• The growing popularity of tourmaline hair dryers is a key trend shaping the global hair dryer market. The growth is primarily driven by the inherent advantages of tourmaline. The material is lightweight and emits negative ions. It also releases infrared heat and also saves time and energy significantly.

• The increasing online sales of hair dryers provide an easy platform for all manufacturers irrespective of their size. The category of players listed in online channels ranges from global vendors like Dyson Technology India Pvt. Ltd. and Conair Corp to local players like Syska Led Lights Pvt. Ltd.

• The introduction of travel-friendly portable hair dryers with rechargeable options is garnering more attention in the global hair dryer market.

• Grow your profit margin with Technavio – Buy the Report!

Hair Dryer Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on type, Product (Corded hair dryers and Cordless hair dryers), End-user (Professional usage and Individual usage), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

• Corded hair dryers segment was valued at USD 5,240.97 million in 2017. Factors like product innovation and design are driving popularity to the corded hair dryers segment. For instance, Panasonic Holdings Corp. (Panasonic) offers a nanoe and Double Mineral Hair Dryer EH-NA98, which is lightweight, has a user-friendly design, and operates in various modes based on the different hair scalp and skin types. The demand for cordless hair dryers is increasing with the changing lifestyle and work culture of consumers, especially in developed countries.

Geography Overview
By geography, the global hair dryer market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global hair dryer market.

• APAC is estimated to contribute 38% to the growth of the global market during the forecast period. The hair dryer market is expected to grow at a significant pace during the forecast period. The hair dryers market in Europe is expected to grow at a slower rate than the global CAGR owing to the maturity of the market in the region with Germany being the largest market for hair dryers in the region, followed by the UK and France. The hair dryer market in the US is expected to grow moderately in the region.

For insights on global, regional, and country level parameters with growth opportunities
from 2017 to 2027  - Download a Sample Report

Hair Dryer Market – Market Dynamics
Key factor driving market growth

• The increasing penetration of low-cost hair dryers is a key driver for the market. This is primarily happening because of technological innovations in manufacturing techniques.

• There is an exponential increase in the average cost spent on hair care and grooming by the global population. For instance, in 2019, on average, the women population in the US spent around USD 90 per month on hair care.

• Product innovation in features like automated heating, drying, and cooling processes, are playing a pivotal role in driving traction for the global hair dryer market.

Major challenges hindering market growth

• Market fragmentation leads to price competition among the vendors. Major players face challenges from local players in nascent and emerging markets while local players find it hard to penetrate the global market due to the strong presence of global players.

• Perceived side effects of hair dryers like hair damage, hair loss, and burn hazards due to improper use in emerging countries is a challenge that vendors need to overcome.

• The global hair dryer market is subjected to various regulatory standards from associations like the International Organization for Standardization (ISO) and Consumer Product Safety Commission (CPSC).

• For instance, in February 2018, ISO recalled 73,000 Proliss Ionic Pro series hair dryers in the US due to non-compliance with regulations. The cord provided by the manufacturer was brittle near the base, which could cause burn hazards. ISO announced consumers to return the product and assured an immediate refund on it. The same applied to 1,000 units sold in Canada.

To know more about drivers, trends & Challenges, request a sample report!

What are the key data covered in this Hair Dryer Market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the Hair Dryer Market between 2023 and 2027

• Precise estimation of the size of the Hair Dryer Market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the Hair Dryer Market industry across APAC, North America, Europe, South America, and Middle East and Africa

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of Hair Dryer Market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The hair loss treatment products market is estimated to grow at a CAGR of 4.6% between 2022 and 2027. The size of the market is forecast to increase by USD 2,216.5 million. The rising hair-related issues among consumers are notably driving the market growth, although factors such as the availability of counterfeit products may impede the market growth.

The men's hair care and styling products market size is expected to increase to USD 12.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.16%. The evolving fashion trends in hair styling are the key drivers supporting the men's hair care and styling products market growth.

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global hair dryer market 2017 - 2021

• 4.2 Product Segment Analysis 2017 - 2021

• 4.3 End User Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Product

• 6.1 Market segments

• 6.2 Comparison by Product

• 6.3 Corded hair dryers - Market size and forecast 2022-2027

• 6.4 Cordless hair dryers - Market size and forecast 2022-2027

• 6.5 Market opportunity by Product

7 Market Segmentation by End-user

• 7.1 Market segments

• 7.2 Comparison by End-user

• 7.3 Professional usage - Market size and forecast 2022-2027

• 7.4 Individual usage - Market size and forecast 2022-2027

• 7.5 Market opportunity by End-user

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 North America - Market size and forecast 2022-2027

• 9.6 South America - Market size and forecast 2022-2027

• 9.7 Middle East and Africa - Market size and forecast 2022-2027

• 9.8 US - Market size and forecast 2022-2027

• 9.9 China - Market size and forecast 2022-2027

• 9.10 Japan - Market size and forecast 2022-2027

• 9.11 Germany - Market size and forecast 2022-2027

• 9.12 Brazil - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Beauty by Imagination Inc.

• 12.4 Conair Corp.

• 12.5 Dolphy India Pvt. Ltd.

• 12.6 Dyson Technology India Pvt. Ltd.

• 12.7 Elchim Spa

• 12.8 Havells India Ltd.

• 12.9 IkonicWorld

• 12.10 John Paul Mitchell Systems

• 12.11 Koninklijke Philips NV

• 12.12 Ligo Electric SA

• 12.13 Orchids International

• 12.14 Panasonic Holdings Corp.

• 12.15 Parlux Spa

• 12.16 Revlon Consumer Product Corp.

• 12.17 Procter and Gamble

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/hair-dryer-market-to-grow-at-a-cagr-of-5-01-by-2027--driven-by-the-increase-in-low-cost-options--technavio-301753185.html

SOURCE Technavio