Hair Dryer Market size is set to grow by USD 1.98 billion from 2024-2028, Increasing low-cost hair dryers to boost the market growth, Technavio

NEW YORK, June 6, 2024 /PRNewswire/ -- The global hair dryer market size is estimated to grow by USD 1.98 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 4.86% during the forecast period. The hair dryer market is experiencing growth due to the increasing popularity of tourmaline hair dryers. These dryers, which utilize negative ions and infrared heat, offer benefits such as faster drying times, energy savings, and improved hair shine. Suitable for all hair types and lighter in weight, tourmaline hair dryers are gaining favor among consumers. Major brands like Revlon and Conair are meeting this demand with offerings at various price points. As a result, the market for hair dryers is set to expand, driven by the advantages of tourmaline technology. 

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Key Market Trends Fueling Growth

The hairdryer market is experiencing significant growth due to advancements in technology. Producers are focusing on creating lightweight and powerful dryers, with some offering ionic and tourmaline technology for faster drying and smoother hair. Consumers are also seeking cordless and rechargeable options for added convenience.

Additionally, the market is seeing a trend towards personalized controls, such as adjustable heat settings and cool shots. Corded dryers with professional-grade features are also popular among salon professionals. Overall, the hairdryer market is expanding to meet the diverse needs of consumers and professionals alike. 

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Market Challenges

• The hair dryer market is highly competitive, with numerous global and local players. Major players like Conair Corp, Dyson Technology India Pvt. Ltd., and Koninklijke Philips NV differentiate themselves through product innovation. However, they face challenges from local players in emerging markets. Market maturity in developed countries, with a low replacement rate for hair dryers, restricts growth opportunities for vendors.
• The hair dryer market faces several challenges. Production costs for corded hair dryers have increased due to higher raw material prices. Additionally, consumers prefer cordless models, leading to intense competition in this segment. Another challenge is the increasing popularity of infrared and ionic technology in hair dryers, requiring significant research and development investments.
• Furthermore, the trend towards smart technology integration in hair dryers adds to the market complexity. Lastly, maintaining quality and ensuring safety standards while keeping prices competitive is a constant challenge for market players.

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Segment Overview 

1. Product 
• 1.1 Corded hair dryers
• 1.2 Cordless hair dryers
2. End-user 
• 2.1 Professional usage
• 2.2 Individual usage
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Corded hair dryers- The corded hair dryer market is projected to expand at a moderate rate due to the maturity of markets in North America and Europe. Despite market saturation, innovations such as lightweight and long-cord designs continue to attract consumers. Manufacturers like Panasonic address user concerns with these improvements. Additionally, sleek designs and tourmaline technology are popular trends, appealing to younger consumers and damaged hair respectively. Overall, these factors contribute to the corded hair dryer segment's continued growth.

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Research Analysis

The Hair Dryer Market encompasses a significant segment of the Household Appliances industry. This market caters to consumers seeking advanced technologies for Personal grooming, including Ionic and Tourmaline hair dryers. Major salon chains and fashion runways influence Consumer purchase decisions by promoting trends in Physical appearance and Movies. New Products and Brands continually emerge, driven by B2C enterprises and Industry associations.

Performance factors, such as speed, heat settings, and durability, are crucial in the selection process. Trade data and Survey results provide insights into Market sizes and consumer preferences. High-end hair dryers, featuring wired and wireless options, cater to the demands of discerning consumers. The Hair Dryer Market continues to evolve, driven by technological advancements and evolving consumer needs.

Market Research Overview

The Hair Dryer Market encompasses a wide range of electric appliances designed to accelerate the evaporation of moisture from hair using heated air. These devices are essential for individuals seeking to style and manage their hair effectively. The market offers various types of hair dryers, including ionic, ceramic, tourmaline, and infrared models, each with unique features catering to diverse hair types and styling preferences.

The market is driven by factors such as increasing consumer awareness of personal grooming, growing demand for convenient and efficient hair care solutions, and technological advancements in hair dryer technology. Additionally, the market is witnessing a trend towards portable and cordless hair dryers, offering greater flexibility and ease of use. Overall, the Hair Dryer Market is expected to grow steadily in the coming years, driven by these factors and the continuous innovation in hair care technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Corded Hair Dryers
• Cordless Hair Dryers
• End-user
• Professional Usage
• Individual Usage
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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.

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SOURCE Technavio