Hair Styling Equipment Market to Grow by USD 3.71 Billion from 2024-2028, Driven by the Benefits of Styling Tools, Report on AI Redefining the Market Landscape - Technavio

NEW YORK, Oct. 10, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Global Hair Styling Equipment Market  size is estimated to grow by USD 3.71 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.83%  during the forecast period. Growing advantage of hair styling equipment is driving market growth, with a trend towards increasing use of social media marketing. However, availability of counterfeit products  poses a challenge - Key market players include Andis Co., Beauty Elite Group, Conair Corp., Coty Inc., Dafni Hair, Deva Concepts LLC, Drybar Holdings LLC, Dyson Group Co., Elchim Spa, Farouk Systems Inc., Hamilton Beach Brands Holding Co., Havells India Ltd., Helen of Troy Ltd., John Paul Mitchell Systems, Koninklijke Philips N.V., LVMH Group., Panasonic Holdings Corp., Spectrum Brands Holdings Inc., Tescom Denki Co. Ltd., and The Procter and Gamble Co..

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Key Market Trends Fueling Growth

The hair styling equipment market has experienced significant growth due to increased social media usage and e-commerce adoption. Social media platforms like Facebook, Twitter, Instagram, and YouTube are utilized by vendors for promotional activities, reaching a wider audience. For instance, Philips NV leverages video advertising, influencer collaborations, and personalized communications to boost sales. Internet penetration and social media user growth, such as in Japan and the US, expand product awareness, driving market revenue during the forecast period. 

The Hair Styling Equipment Market is witnessing notable trends such as smartphone connectivity, slim designs, and smart sensor technology. These advancements include 24K-Gold based tools with lithium-silicone batteries powering smart hairbrushes and hairdryers. Offline retail and online platforms are both thriving, catering to consumers' appearance consciousness and demand for salon services, hairstyling fashion, and grooming patterns. Young people are particularly interested in innovative tools like smart sensors to prevent heat damage while styling for texture, shine, curl, volume, and hold. Retailers and brands continue to invest in research and development, introducing smart hair curlers & rollers, hair straighteners, and traditional barbering tools with advanced grooming techniques. Hairstyling products remain essential, with a focus on reducing damage and enhancing overall appearance. 

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Market Challenges

• The hair styling equipment market is experiencing significant growth due to increasing demand for hair styling tools. However, this market faces a challenge from the proliferation of counterfeit hair styling equipment. These counterfeits, made from low-quality materials, can damage hair and pose risks to users. The expanding reach of e-commerce platforms globally fuels the sales of counterfeit products, making it difficult for consumers to distinguish them from genuine items. Their lower prices attract customers, leading to decreased sales and profit margins for legitimate vendors. To counteract this, branded vendors invest in advertising and promotional campaigns to retain customer loyalty. However, these efforts increase costs and further reduce profitability. Counterfeit producers save on production and transportation costs, allowing them to offer lower prices, posing a significant challenge for market leaders in the hair styling equipment industry during the forecast period.
• The Hair Styling Equipment Market encompasses a wide range of tools and appliances used for personal grooming and professional salon services. Key players include beauty institutes, salons, spas, barbershops, and both offline and online retailers. The market caters to various segments: household, commercial, and professional. Hair styling tools and hair care appliances, such as hairdryers, hair straightening brushes, hairbrushes, and electric stylers, are popular products. The electric segment is growing due to energy-saving devices and novel features like supersonic technology and LED light indicators. However, challenges include safety concerns, such as electric shock and adverse health effects from chemical formulations and carcinogens in some hair care products and chemical treatments. Target demographics include high-income groups, millennials, and working women. Marketing strategies focus on energy resources and sustainable practices, as well as addressing concerns about the risks of breast cancer and other health conditions associated with some hair care products.

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Segment Overview 

This hair styling equipment market report extensively covers market segmentation by

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. End-user 
• 2.1 Professional
• 2.2 Individual
3. Product 
• 3.1 Dryer
• 3.2 Straightener
• 3.3 Styler
4. Technology 
• 4.1 Corded
• 4.2 Cordless
5. Geography 
• 5.1 APAC
• 5.2 Europe
• 5.3 North America
• 5.4 Middle East and Africa
• 5.5 South America

1.1 Offline-  The Hair Styling Equipment Market consists of various distribution channels, including specialty stores, hypermarkets, supermarkets, convenience stores, clubhouse stores, and others. Hypermarkets like Walmart and Target offer hair styling equipment, with an increasing number of stores and retailer expansions driving demand. Salons and spas, which provide rejuvenation treatments and grooming, are growing in popularity. The trend of hair styling among men and women fuels market growth. Consummers prefer specialty stores for purchasing hair styling equipment due to the wide selection of products. Sephora is a notable specialty store. Vendors employ the online-to-offline (O2O) business strategy, combining digital and offline sales, to boost sales and offer a digital experience. The O2O channel benefits consumers through in-store pickup, online purchases at physical stores, and product returns. These factors are expected to drive the offline segment's growth during the forecast period.

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Research Analysis

The Hair Styling Equipment Market encompasses a wide range of tools and appliances designed to help individuals achieve various hairstyles and enhance their appearance. This market includes hair dryers, hair curlers and rollers, hair straighteners, and traditional barbering tools. Grooming techniques and hairstyling fashion continue to evolve, driving the demand for innovative hair styling equipment. Hair salons and spas are significant consumers of these products, with professional hairdressers utilizing electric appliances such as hairdryers, hair straightening brushes, and hairbrushes. Lithium-silicone batteries and smart sensors are increasingly being integrated into these appliances for improved performance and energy efficiency. The market also includes a variety of hair care products and grooming products to complement the use of these tools. With an increasing focus on appearance consciousness, the market for hair styling equipment is expected to grow significantly. The ability of these tools to provide texture, shine, curl, and other desirable hair attributes makes them indispensable for both personal and professional use. Barbershops also contribute to the market demand for traditional barbering tools and equipment.

Market Research Overview

The Hair Styling Equipment Market encompasses a wide range of tools and appliances designed to enhance and transform hair. This market includes various products such as Hair dryers, Hair curlers & rollers, and Hair straighteners. Traditional barbering techniques continue to coexist with modern grooming methods, while Hairstyling fashion and Appearance consciousness remain key drivers. Salons and spas, Retailers and brands, Young people, and Fashion trends significantly influence the market's growth. Households and Commercial establishments, both Offline and Online, offer various channels for sales. Hair styling tools, Hair care appliances, and Grooming products are essential Personal care appliances. Professional salon services, Barbershops, Chemical treatments, and Energy-saving devices are integral parts of the market. Portable appliances with novel features like Supersonic technology, LED light indicators, Smartphone connectivity, Slim designs, and Smart sensor technology are gaining popularity. However, concerns regarding Energy resources, Electric shock, Adverse health effects, and Cancer conditions from certain Hair styling products and tools persist. The Haircare market, Personal grooming, Hair properties, and Beauty devices continue to evolve, with Lithium-silicone batteries, Smart sensors, and 24K-Gold based tools leading the way. Heat damage, Texture, Shine, Curl, Volume, and Hold are essential considerations for consumers.

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

• Distribution Channel
• Offline
• Online
• End-user
• Professional
• Individual
• Product
• Dryer
• Straightener
• Styler
• Technology
• Corded
• Cordless
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

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

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SOURCE Technavio