Personal care appliances: Key market research findings
- Europe dominates the market geographically
- Hair care segment accounts for a majority of the market’s revenue
- Key vendors – Conair, Helen of Troy, Koninklijke Philips, Panasonic, P&G, and Spectrum Brands
Technavio’s market research analysts predict the global market for personal care appliances to grow at a CAGR of around 7% between 2016 and 2020. The demand for personal care appliances is fueled primarily by the transition from manual use to appliance-based grooming products. With advances in technology across industries and the availability of innovative products, customers no longer restrict themselves to manual grooming appliances. Factors such as consumer preferences based on socioeconomic changes impact the market. In 2015, the global personal care appliances market was dominated by Europe with a market share of around 42%. High consumer awareness of trimmers and epilators as an efficient, safe, and easy option to stay well-groomed will drive the personal care appliances market in Europe during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the personal care appliances segments based on the product.
“Consumers are transitioning towards the use of smart personal appliances currently. Vendors are capitalizing on the trend of consumers switching to technologically advanced products. P&G’s Oral-B also launched a power toothbrush with Bluetooth 4.0 capabilities. The brush provides its users with the real-time information on brushing patterns. The introduction of smart toothbrushes throws light upon the impact of Internet of Things (IoT) on the global market,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the hair care segment will continue its market dominance by accounting for approximately 51% of the overall market revenue. Penetration of personal care appliances is high in developed countries, and its adoption is greatly increasing in developing countries due to increasing consciousness among the youth segment about their appearance coupled with increasing low-cost entrants trying to capture the mid-income segment. Increasing disposable income, expanding middle-class population, increasing social media engagement, and promotions are factors aiding the market’s growth.
The key vendors in the global personal care appliances market include Conair, Helen of Troy, Koninklijke Philips, Panasonic, P&G, and Spectrum Brands. The competition in this market is expected to intensify during the forecast period due to the entry of several new players, price wars, and mergers and acquisitions. Technological advances will play a key role in the growth of the market in the coming years. However, the possible risks of using an electronic personal care appliance like a hair dryer and the growing presence of low-cost products might affect the profitability of vendors in the coming years.
A more detailed analysis is available in the Technavio report, Global Personal Care Appliances Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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