Pune, India, Oct. 14, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global hairdressing tools market size is expected to reach USD 39.63 billion by 2027 while growing at a CAGR of 3.7% between 2020 and 2027. is attributable to the presence of the younger generation which is driving the demand for advanced smart hair styling tools across the world. This information in its report titled, “Hairdressing Tools Market, 2020-2027.”, mentions that the market stood at USD 30.09 billion in 2019 and is expected to grow exponentially in the coming years.
Hair salons closed amid COVID-19 may hamper market growth
The forced lockdown led to a complete shutdown of operations, resulting in unprecedented economic losses worldwide. To contain the spread of the novel coronavirus, people have been advised to remain confined to their homes. Additionally, the government has ordered the closure of various shops and establishments including hair salons and grooming services. This hampers the growth of the market to some extent. However, the growing focus by manufacturers on developing innovative wearable hairdressing products will drive the market growth in the near future.
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hairdressing tools market Report Scope and Segmentation:
|2027 value projection||$39.63 billion|
|Year of reference||2019|
|Hairdressing tools market size in 2019||$30.09 billion|
|Number of pages||160|
|Segments Covered||By product type, by application, by distribution channel, by region|
|Hairdressing Tools Market Growth Factors||Increased awareness of the harmful effects of chemical hair treatments|
|Growing adoption of smart styling tools|
Fortune Business Insights™ lists all Hairdressing Tools Market companies currently working to lessen the impact of the Covid-19 pandemic on the market:
- Koninklijke Philips NV, (Amsterdam, Netherlands)
- Spectrum Brands, Inc. (Middleton, USA)
- Dyson ltd. (Malmesbury, UK)
- Conair Corporation (Stamford, USA)
- Panasonic Corp. (Osaka, Japan)
- Coty Inc. (New York, USA)
- Procter & Gamble Co. (Ohio, USA)
- Helen of Troy Ltd. (Bermuda, UK)
- WAHL Clipper Corp. (Illinois, USA)
- Hamilton Beach Brands (Virginia, USA)
Styling tools are widely adopted by hairdressers for their grooming sessions. Tools include hair dryers, hair irons, hair brushes, diffusers, curlers, and other types of equipment. These tools are used to add shine, texture, volume, curls or maintain the style desired by the client. The growing awareness of appearance and style is driving the demand for advanced personal care products across the world.
What does the report include?
The market report includes a detailed assessment of the various drivers and restraints, opportunities and challenges that the market will face during the projected horizon. Moreover, the report provides comprehensive information regarding regional developments of the market, affecting its growth over the forecast period. It includes information sourced from expert industry professional advice by our research analysts using multiple research methodologies. The competitive landscape offers more detailed information about the strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain their position in the market between 2020 and 2027.
Browse Detailed Abstract of Research Report with TOC:
Presence of Generation X to stimulate the adoption of innovative hairdressing tools
According to the US Census Bureau, the millennial population has overtaken baby boomers as the largest generation of living adults in the United States. The strong presence of the younger population is propelling the demand for high-end skincare products. Additionally, increasing spending on personal grooming services by Gen Xers is expected to drive the demand for advanced hair styling tools over the forecast period. Manufacturers are further adopting advanced technology to develop smart personal care products that will aid in the growth of the global market over the forecast period.
Hypermarkets/supermarkets held 42.82% market share in 2019
The hypermarket/supermarket segment, based on distribution channel, is expected to grow due to the wide availability of grooming products and hairdressing tools in stores across the globe. The segment held a market share of around 42.82% in 2019.
Europe must remain in the forefront; Increase the number of hair salons to increase growth
Among all regions, Europe is expected to remain dominant and hold the highest position in the global hairdressing tools market. This dominance is attributed to the increasing number of hair salons and the rising adoption of advanced smart hair styling tools in the region.
The market in Asia-Pacific is expected to show considerable growth supported by the increasing demand for innovative grooming products due to the presence of younger population in South Asian countries in the region between 2020 and 2027.
Reasons to get this report:
- Qualitative and quantitative market research based on segmentation including both economic and non-economic factors
- Market value data for each section and sub-segment
- Indicates the region and market segment likely to grow fastest and dominate the market.
- The consumption of the product/service in each region is highlighted along with the factors affecting the market in each region.
- The competitive landscape includes market rankings of top players, as well as new service/product launches, collaborations, corporate expansions, and acquisitions made by featured companies in recent years.
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Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Overview of parent/related markets
- Hairdressing Tools Trend
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Qualitative analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply chain challenges
- Potential opportunities due to COVID-19
- Global Hairdressing Tools Market Analysis, Outlook and Forecast, 2016 – 2027
- Main results/summary
- Market size estimates and forecasts
- By product type (value)
- By application (value)
- By distribution channel (value)
- Specialty stores
- online channel
- By region (value)
- North America
- Asia Pacific
- South America
- Middle East and Africa
- By product type (value)
Merger and acquisition by large companies to expand their portfolio
The market is experiencing massive competition from large companies keen to maintain their stronghold. They do this by acquiring other companies to develop advanced styling products and by striving to expand their product portfolio. Apart from this, the major players operating in the market are adopting strategies such as partnership, new product introduction and collaboration to maintain their presence in the global market.
- January 2020 – Helen of Troy acquires Drybar Product LLC, a forward-thinking hair care and styling brand. According to the company, the acquisition should strengthen its position in the beauty industry by millions of dollars.
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Frequently Asked Questions (FAQ):
1. Is the hairdressing tools industry growing?
Answer: According to Fortune Business Insights, the global hairdressing tools market size was USD 30.09 billion in 2019 and is expected to reach USD 39.63 billion by 2027.
2. Who are the major players in the Hairdressing Tools Market?
Answer: Philips, Conair, Dyson and Coty are some major players in the global market.
3. What are the key factors increasing the market?
Answer: Presence of Generation X to stimulate the adoption of innovative hairdressing tools
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