increasing low-cost hair dryers is driving the Hair Dryer Market
Technavio analyzes that the Hair Dryer Market is expected to grow at a CAGR of 4.86% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1980.7 million.There are various factors that contribute to the growth of the market. The hair dryer market is witnessing a surge in the availability of affordable, low-cost options. These budget-friendly hair dryers cater to the needs of consumers seeking functional and cost-effective solutions for their daily grooming routines. Manufacturers are focusing on producing efficient and lightweight models without compromising on essential features, making them an attractive choice for budget-conscious consumers.
The corded hair dryer market is experiencing modest expansion during the forecast period, primarily due to market saturation in regions like North America and Europe. Despite this, the segment continues to garner demand, driven by product advancements, design enhancements, affordability, and energy efficiency. Notably, lightweight and long-cord hair dryers represent significant innovations within the global hair dryer landscape. The weight of hair dryers significantly influences user experience and performance, prompting manufacturers to prioritize lighter designs.
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Hair Dryer Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Hair Dryer Market is driven by factors such as improving standards of living, focus on physical appearance, and influences from movies and fashion runways. Personal grooming is a priority, leading to increased demand for Hair Dryers and related hair care products. Major salon chains and B2C enterprises promote new products from leading Brands, incorporating advanced technologies like Ionic and Tourmaline hair dryers. Market sizes and industry associations provide Trade data and Survey results, influencing consumer purchase decisions for High-end hair dryers, wired or wireless, based on performance factors.
The global market for household appliances encompasses the revenue generated by manufacturers of electric appliances and related products, excluding televisions, consumer electronics, personal computers, machine tools, agriculture equipment, and garden improvement tools. This market is segmented into five categories: major household appliances, small household appliances, hand tools, power tools, and garden improvement tools. Factors driving growth include rising standards of living, increasing focus on personal grooming, fashion trends, and the expansion of major salon chains. Consumer expenditure on beauty and personal care products is a significant contributor to the market's revenue.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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