USD 22.20 billion
Report ID:
SQMIG30L2237 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
87 |
Figures:
73
Global Hair Styling Products Market size was valued at USD 22.20 billion in 2022 and is poised to grow from USD 23.5 billion in 2023 to USD 35.64 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
The increasing demand for hair care devices can be traced back to the increased awareness of the side effects associated with chemical hair products. Consumers are aware of the potential damage due to chemical treatments of their hair excess in the well. These small, convenient devices are gaining popularity as they allow users to carry them quickly, without having to visit a salon for fashion needs.
The global market for hair styling products is poised for significant growth, driven by the rapid adoption of various hair products such as hair mousse and gel. This demand is expected to continue to increase during the forecast period. Moreover, the prevalence of social media influence, especially among teens and millennials, is contributing significantly to the growth of the market. Hairstyles used by social media influencers and actors, displayed through sensationalism on platforms, play an important role in shaping consumer preferences and driving market expansion.
Global Market Size
USD 22.20 billion
Largest Segment
Electric
Growth Rate
5.4% CAGR
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Based on product type, the market is segmented as manual and electric. Based on the application, the hair styling tools market is segmented as household and commercial. Based on the distribution channel, the market is segmented as hypermarkets/supermarkets, specialty stores, online channels, and others. By region, the global market has been divided into North America, Europe, Asia-Pacific, and Rest of the World.
Analysis by Product
Hand tools such as brushes, combs, rollers, and traditional hair brushes offer a large segment of the population affordability, making them more convenient for styling needs. However, these hand tools come with fewer limitations compared to their lightning counterparts energy wise, varying from curling, crimping, or getting wavy hairstyles -Efficiently address diverse consumer demands for styling different hair textures. As a result, the electrical segment of the hair styling products market has settled to grow rapidly due to its versatility and ability to satisfy a wide range of styling preferences.
Among electric tools, hair dryers are expected to dominate the market due to their versatility and affordability. A Philips survey of consumers in 2019, as found in the Beauty in a World of Flux survey, found that about 76% of the women surveyed use hairdryers, which means if they are widely used. Apart from this, the study revealed that 41% of women use hair straighteners and nearly 30% of women use curlers, highlighting the important role that electronic hair styling tools play in consumer beauty routines. These findings support the notion that electronic tools, especially hair dryers, play an important role in satisfying a substantial portion of hairstyle preferences of the number of women.
Analysis by Application
The development of automatic products, especially those offering multiple benefits and energy saving features in a single device, is expected to have a positive impact on the home sector of the hair styling products market. For example one notable exception is the launch of Dyson's Airwrap Styler. This innovative product offers users a variety of benefits such as curling, waving, smoothing and drying hair without excessive heat.
In contrast, the commercial segment caters to salons, spas, beauty institutes and educational institutions, providing professional stylists generally using professional grade machines with high quality in comparison to a limited use house. The use of professional equipment in professional settings highlights the requirement for sophisticated and efficient equipment to meet the diverse needs of customers for apparel manufacturing in professional workshops, and contributes to the growth of the commercial end-user segment in the hair styling products market.
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North America remains the dominant factor in the hair styling products market, driven largely by the strong demand for sophisticated luxury hair care products in the region. Consumers in North America show a strong interest in attending and have discovered the latest trends in hair styling, contributing to the continued search for new hair products and quality.
Asia-Pacific is emerging as the fastest growing market for hair styling products, characterized by high growth, with China playing a major role in meeting the market demand. Key players in the industry focus strategically on differentiating consumer preferences among urban youth, premium. Considering their tendency to spend on goods. Notably, products designed for specific hair types have become increasingly popular, reflecting a targeted approach by companies to meet the needs of different consumers.
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Drivers
Innovation and Social Media are Driving Market Growth
Restraints
Proliferation of Informal Sector
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The competitive environment of the global Hair Styling Products market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The growing cosmetic needs among the global population are the important factors driving the growth of the hair styling products market. As individuals search for hairstyles and personal cosmetics, the demand for new and effective styling tools continues to grow. However, it is important to note that products intended to permanently or temporarily straighten or smooth hair can pose health risks. Pharmaceutical products used in these procedures of chemicals often contain reactive compounds such as formaldehyde that are known to be carcinogenic.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 22.20 billion |
Market size value in 2031 | USD 35.64 billion |
Growth Rate | 5.4% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hair Styling Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hair Styling Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hair Styling Products Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hair Styling Products Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Product ID: SQMIG30L2237