The adage “First impression is the last impression” might sound too cliché but people have realised its importance and hence, have taken recourse to personal grooming. One industry that is expected to grow by leaps and bounds is the Global Beauty and Personal Care Market. Today, people prefer visiting salons and spas to look and feel good, just to make sure that they put their best face, err, hair forward! Taking a cue from this, the Global Hair Dryer Market is expected to surge past the USD 16 billion mark by 2021 in terms of revenue.
Bad Hair Day? – Just Use a Hair Dryer!
As mentioned earlier, personal grooming is booming and how! Consumers, irrespective of gender, are highly fashion conscious and are willing to spend on hair and beauty care. The Global Hair Dryer Market looks promising with a growth of 4% plus in terms of CAGR through the forecast period (2017-21). The upsurge in the hair and beard trends among men has helped create a positive impact for the hair dryers market. Innovation is key to create competitive advantage and sustain competition. Major vendors like ConAir, Dyson, Koninklijke Philips, Panasonic and TESCOM have heavily invested in Research and Development.
Hair Dryer Market – A Knotty Affair!
The major vendors in the worldwide hair dryer market need to take care of few knotty affairs to sail through the forecast period (2017-21). According to a detailed industry report by Technavio, the Global Hair Dryer Market might face some challenges as follows,
- With the presence of few global players and many local players, the worldwide hair dryer market is highly fragmented.
- The average lifespan of hair dryers is high as it runs on either electricity or battery, thereby, decreasing the replacement and repurchase sales opportunities.
- Increase in regulatory compliance for labelling and performance standards for hair care products, especially in the Americas that hold majority share in the international market space for hair dryer.
Global Hair Dryer Market – What’s Going to be ‘in Vogue’?
End users, both professionals and Individuals, look for hair dryers that are easy to use, affordable and lightweight. The major vendors in the international hair dryer market will turn to the e-commerce space to sell their products as more consumers prefer shopping online. Increased usage of digital marketing and consumer engagement campaigns on social media platforms to create awareness and increase brand visibility is something to watch out for.
Technavio, a market research company, brings you a comprehensive report on the Global Hair Dryer Market and it predicts the market to be rewarding in ways more than one during the forecasted period (2017-21).
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