Hair Dryer Market is projected to Cross a worth of 13.1 Billion by Registering a CAGR of 4.9% Between Forecast Period of 2022-2031| Transparency Market Research, Inc.

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Jan 04, 2023, 11:30 ET

Increase in demand for portable, easy-to-use, and customizable hair care products propels market growth
Rise in demand for wireless hair dryers for convenience and portability is likely to drive market expansion

WILMINGTON, Del., Jan. 4, 2023 /PRNewswire/ -- According to a study by Transparency Market Research, the hair dryer market is expected to reach US$ 13.1 Bn by 2031, expanding at a CAGR of 4.9% from 2022 to 2031. Demand for hair dryers is driven by increase in working-class population in developing countries and surge in awareness about maintaining proper personal appearance. Rise in disposable income has motivated people to spend more money on hair care and styling products, including hair dryers. Furthermore, surge in the number of professional hair spas and salons across the world is anticipated to propel the sales of hair dryers in the next few years.

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Hair Dryer Market: Key Findings of Report

Increase in Global Middle-class Population: Growth in the middle-class population and increase in working population is expected to increase the spending power of the working class during the forecast period. Increase in the spending power of the working class is likely to rise during the forecast period, which in turn is projected to drive the demand for hair dryers. Surge in the number of working women is augmenting the demand for these devices. Manufacturers are focusing on designing and developing new generation of portable, as well as highly efficient and affordable products aimed at middle-class consumers.
Rise in Demand for Wired Hair Dryer Products: Consumers are increasingly opting for technologically advanced hair dryers with unique features. Demand for wired hair dryers is expected to be high during the forecast period, while the need for wireless hair dryers is likely to increase due to convenience and portability. Consumers prefer hair dryers that are easy to use and can be taken with them wherever they go, whether it is to the gym or on a trip. The convenience and portability of wireless hair dryers make them appealing to consumers.

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Hair Dryer Market: Growth Opportunities

Increase in working-class individuals in emerging countries bolsters market demand
Rise in disposable income along with increase in awareness about maintaining proper personal hygiene fuels industry growth
Surge in number of professional salons across the world drives demand for hair dryers

Hair Dryer Market: Key Players

Leading players in the hair dryer market include Spectrum Brands, Inc., Dyson, Procter & Gamble, Conair Corporation, Panasonic Corporation, Helen of Troy, and Koninklijke Philips N.V. These companies are competing with each other to gain higher market share through strategies, such as introduction of new technologies and expansion of product portfolio. The competitive landscape in the market is intense, with the key players consistently innovating and introducing new products to stay ahead of the competition.

Hair Dryer Market: Regional Growth Assessment

The hair dryer market in emerging economies of Asia Pacific and Latin America is expected to grow at a rapid pace in the next few years. North America dominated the global market in 2021. The trend is expected to continue during the forecast period. However, the market Asia Pacific is anticipated to grow at rapid pace due to increase in demand for hair dryers in countries such as China, India, and Indonesia. Increase in awareness about maintaining proper personal appearance is a key factor expected to drive the demand for hair dryers in these emerging economies. People are more likely to invest in hair styling products, including hair dryers, as they become more aware of the importance of personal grooming and the impact it can have on their appearance and self-confidence.

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Hair Dryer Market: Segmentation

Hair Dryer Market, by Product Type

Wired
Wireless

Hair Dryer Market, by End-use

Individual
Commercial

Hair Dryer Market, by Price Range

Less than US$ 50
US$ 50 – US$ 100
More than US$ 100

Hair Dryer Market, by Distribution Channel

Online

E-commerce Websites
Company-owned Websites

Offline

Hypermarkets/Supermarkets
Departmental Stores
Others (electronics retail stores, brand stores, etc.)

Hair Dryer Market, by Region

North America
South America
Europe
Asia Pacific
Middle East & Africa

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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