USD 19.2 billion
Report ID: SQSG30L2018 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 88 | Figures: 66
Hair Styling Tools Market was valued at USD 19.2 billion in 2021, and it is expected to reach a value of USD 40.5 billion by 2028, at a CAGR of more than 3.4% over the forecast period (2022- 2028).
The primary reason driving the market for hair styling products is the expanding consumer behaviour around the world that involves styling hair to seem appealing. Due to their attention to looks, millennials and Generation Z are the key drivers of the market for hair styling tools.
Even in the middle of the pandemic, people are focusing on self-care because they need to appear good while working digitally. The on-screen persona must be appealing. Additionally, because salons were closed during lockdowns, a large portion of the public turned to hairstyling kits to help them keep themselves groomed at home. As a result, the growth rate statistics for the market for hair styling tools may increase during the projection period.
Manufacturers of hair styling tools like straighteners, curlers, crimpers, and other tools now have a plethora of prospects because to the expanding professional salon services sector in emerging countries. According to market sales of hair styling equipment, the leading countries in the market are China, India, and Australia.
US Hair Styling Tools Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 19.2 billion
more than 3.4% CAGR
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Global Hair Styling Tools Market is segmented based on the Application, Distribution Channel, product type, and region. Based on the Application, the Hair Styling Tools Market is segmented as household and commercial. Based On Distribution Channel, the Hair Styling Tools Market is segmented as, Online Channels, Supermarkets, Speciality Stores and Others. By product type, the market is segmented into manual and electric. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Application
Based on the Product, the hair styling tools market is segmented into two categories as Household and commercial. In which the household segment is expected to drive the hair styling tools market growth because of the improvement in personal use products, there are various benefits are offered by a single product and also by the energy-saving devices.
Analysis by Distribution Channel
The Hair Styling Tools Market has been segmented on the basis of Distribution channel as Online Channels, Supermarkets, Specialty Stores and Other, During COVID-19, e-commerce websites are growing in popularity as consumers find it easier to make purchases online. Consequently, it is expected that the internet channel segment would develop significantly during the coming years. High-income groups are looking towards branded tools at specialty shops and salons to get products of professional and high quality. The hypermarket/supermarket sector is a dominant one that is expected to keep its leadership during the projected period due to the availability of a broad variety of products as well as discounts and other offers from major retailers like Walmart.
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The market for hair styling products in Europe is expected to account for the largest share due to rising purchasing power, rising fashion awareness, the availability of a wide range of hair care products, and more. More than 1,000 new hair and beauty salons were established in the UK in 2020, according to the National Hair & Beauty Federation (NHBF). While there are more hairdressers than ever, a noticeable trend that is also growing is the constant inclination toward hair products that contain elements from food. More and more individuals are looking for hair care products that are safe for the environment and don't include any toxic substances. These elements will have a considerable impact on regional demand. The market in Asia-Pacific is expected to experience significant expansion driven by the soaring demand for cutting-edge grooming products as a result of the existence of a younger population in South Asian countries in the area.
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Gen X's presence will accelerate adoption of cutting-edge hair styling tools
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The Global Hair Styling Tools Market is relatively a concentrated market, and this market is experiencing massive competition. As companies are acquiring other companies to develop advanced hair styling tools and further striving to expand their product portfolio. Apart from this, key players operating in the market are adopting strategies such as partnership, the introduction of new products, and collaboration to maintain their presence in the global marketplace.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Hair Styling Tools Market Analysis, in terms of application, the household segment is expected to drive market growth because of the improvement in personal use products. In terms of the Distribution channel, the online channel is expected a significant growth because of e-commerce websites are growing in popularity as consumers find it easier to make purchases online. Consequently, it is expected that the internet channel segment would develop significantly during the coming years. Among regions, Europe has a largest share due to rising purchasing power, rising fashion awareness, the availability of a wide range of hair care products, and more.
|Market size value in 2021||USD 19.2 billion|
|Market size value in 2028||USD 40.5 billion|
|Growth Rate||more than 3.4%|
|Forecast period||2022- 2028|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Hair Styling Tools 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 Tools 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hair Styling Tools 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 Tools Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Product ID: SQSG30L2018