Personal Care Appliances Market
Personal Care Appliances Market (Product: Trimmers, Shavers, Hair Straighteners, Hair Dryers, Epilators, and Others; End User: Men, Women, and Children; and Distribution Channel: Online [e-Commerce Website and Company Website] and Offline [Hypermarkets & Supermarkets, Specialty Stores, and General & Pharmaceutical Stores]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Technological Innovations Lead to Development of AI-powered Shavers
Conventional single-blade razors pose risks of cuts and injuries to consumers. Manufacturers are experimenting with AI and virtual reality (VR) to overcome the limitations of traditional razors. As such, shavers product segment of the personal care appliances market is expected to account for the third-highest revenue. Hence, manufacturers are tapping into opportunities in AI and VR to increase their offerings in new shaving devices. For instance, in September 2019, Philips announced the launch of AI-powered Smart Shaver series 7000 at the IFA held in Germany.
Moreover, manufacturers in the personal care appliances market are increasing the production of electric razors equipped with multiple high-speed blades. These innovative shavers are increasingly replacing traditional single-blade razors. AI-powered razors are catering to a safer and smarter hygiene routine of customers. Companies in the market for personal care appliances are collaborating with dermatologists to develop mobile apps that cater to the needs of men with sensitive skin. Additionally, companies in the personal care appliances market are offering personalized skin reports to users through the mobile app.
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India Offers Growth Opportunities to Leading Manufacturers
Leading manufacturers in the market for personal care appliances are increasing efforts to fill the gaps in the male grooming segment. World’s largest electronics company Philips, which was valued at ~US$ 2 Bn in the personal care appliances market in 2018, revealed that the company is keen on investments in high-growth countries of Asia Pacific, such as India. Moreover, Asia Pacific is expected to dominate the personal care appliances market, in terms of value and volume, during the forecast period. Hence, manufacturers are expanding into India to increase their market share.
Due to an increase in the uptake of male grooming products in India, manufacturers are increasing production capacities to meet the rising demand from the male demographic. As such, male end user segment is leading the market for personal care appliances, in terms of both value and volume. Thus, leading companies are leveraging opportunities to localize the production of beard trimmers in India.
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Intelligent Smart Charge Technology Increases Uptake of Innovative Trimmers
The personal care appliances market is witnessing technological innovations in trimmers. Besides, trimmers product segment of the personal care appliances market is expected to reach the output of ~500 million units by the end of 2027. Hence, manufacturers are exploring opportunities in lithium-ion technology to increase efficacy in the smart charge technology. For instance, in March 2019, leading U.S. grooming company Wahl Clipper, announced the launch of two new trimmers integrated with the lithium-ion technology.
Companies in the market for personal care appliances are boosting their credibility credentials in the global market landscape, since the intelligent smart charge technology saves power. This innovative technology automatically shuts the unit off once the device is fully charged. Technologies similar to lithium-ion are gaining increased popularity in the personal care appliances market, owing to fast charging and prolonged battery life of trimmers. Moreover, companies are introducing electronic travel lock, which ensures the trimmer does not turn on by accident.
Companies Invest in R&D to Develop Less Intrusive Hair Dryers
The personal care appliances market is expected to be valued at ~US$ 111 Bn by 2027. However, the market is anticipated to grow at a considerable growth rate of ~3% during the forecast period.
There is a growing demand for high power and less intrusive hair dryers that cater to the convenience of customers. However, companies have to invest millions of dollars every week to increase their efficacy in R&D for the development of compact engines in hair dryers. This poses as a challenge for prominent and emerging players in the market for personal care appliances, since such companies are restricted with limited budgets. Hence, manufacturers are adopting various strategies and reinvesting part of their profits in R&D to increase production of technologically advanced hair dryers.
In terms of product, the hair dryers segment dominated the personal care appliances market. Hence, manufacturers are focusing on the development of super-fast motors to stay relevant in the highly competitive market landscape.
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Manufacturers in the personal care appliances market are introducing novel trimmers to gain popularity as the preferred brand in the global market landscape. They are increasing research efforts to manufacture hair dryers that are less intrusive and prevent overheating. Leading companies, such as Havells, are roping in celebrities to boost their brand’s credibility credentials through innovative marketing strategies and TV commercials in India.
However, multi-blade razors pose challenges of overheating and undesirable user experiences. Hence, companies should rely on consumer data to introduce improved options in single and double bladed razors to meet consumer requirements. This trend serves as an opportunity for nimble startups to compete with leading manufacturers.
Personal Care Appliances Market: Overview
- According to Transparency Market Research’s latest market report on the personal care appliances market for the period 2019-2027 (wherein 2019 to 2027 is the forecast period and 2018 is the base year), increasing concerns about personal health and growing preference for technologically advanced products are expected to drive the personal care appliances market
- Globally, the revenue generated by the personal care appliances market stood at ~US$ 82.8 Bn in 2018, and the market is expected to expand at a CAGR of over ~3% in terms of value during the forecast period
Growing Attention Toward Personal Care: A key driver
- Growing disposable income of consumers is enabling them to spend more on luxury personal care products. People are also concerned about oral healthcare, which has increased the demand for electric toothbrushes worldwide. Nowadays, consumers are opting for personal care appliances rather than traditional products, due to huge social media exposure. Growing personal care concerns is a major factor driving the personal care appliances market globally.
- Moreover, personal care appliances are witnessing high demand from the younger generation, due to increasing focus on personal grooming. Extensive social media influence has made youngsters to continuously change their hairstyle and looks, which is accelerating the demand for personal care appliances and is set to boost the market across the globe.
Innovation and Technological Advancements: Market opportunity
- Product innovation and portfolio expansion offer considerable opportunities in the personal care appliances market globally. Consumers are more likely to opt for personal care electrical products, such as hair trimmers, shavers, and electric toothbrushes, due to growing awareness about dental care and personal hygiene. Demand for battery-powered devices is also rising. This is expected to create favorable opportunities in the market.
- The personal care appliances market comprises a wide range of products, such as trimmers, shavers, hair straighteners, hair dryers, epilators, electric toothbrushes, nose hair trimmers, facial cleansers, and massagers. Several companies are manufacturing technologically advanced products with different functionalities, which enable them to better cater to global consumers.
Low-cost Alternatives Likely to Hamper Market Growth
- Availability of alternatives, such as razors, cosmetic wax, and shaving blades is likely to hamper the growth of the personal care appliances market. Increase in the number of local manufacturers is also hampering the expansion of key players. Availability of low-cost products from local manufacturers is expected to impact the personal care appliances market.
- Lack of durability of personal care appliances is another factor restraining market growth. High cost of premium personal care appliances is a major drawback, especially in emerging economies.
Personal Care Appliances Market: Competition Landscape
- Detailed profiles of manufacturers of personal care appliances have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the personal care appliances market include -
- Koninklijke Philips N.V.
- Procter & Gamble
- Wahl Clipper
- Panasonic Corporation
- Conair Corporation
- Spectrum Brands, Inc.
- Groupe SEB
- Andis Company
- Havells India Ltd.
- Helen of Troy
Personal Care Appliances Market: Key Developments
- Prominent manufacturers in the personal care appliances market are increasing investment on research & development for innovation and enhancement of products to fulfill the demand in the market. Manufacturing companies are also planning to expand their product portfolio in various geographies through mergers & acquisitions and tie-ups with distributors and retailers.
Other key developments in the personal care appliances market are as follows:
- In June 2019, Andis collaborated with the renowned Australian men’s grooming brand Uppercut Deluxe and launched the limited edition product known as Envy Li Cordless Clipper and Deluxe Hair Pomade to expand business
- In February 2019, Spectrum Brands Holdings, Inc. and Manchester United plc signed a multi-year global partnership under which, the personal care brand Remington will become Manchester United Football Club’s first official electrical styling partner. This partnership will provide a great opportunity to showcase the quality and versatility of Remington products to fans.
Personal Care Appliances Market – Scope of the Report
A new study on the global personal care appliances market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the personal care appliances market across the globe. TMR’s study offers valuable information about the personal care appliances market to illustrate how the market would grow during the forecast period, 2019-2027.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the personal care appliances market during the forecast period.
An extensive analysis of business strategies of leading market players is also featured in TMR’s study on the personal care appliances market. This can help readers understand principal factors to foresee growth in the personal care appliances market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the personal care appliances market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Personal Care Appliances Market Study
- What are the key factors influencing the personal care appliances market in each region?
- What will be the CAGR of the personal care appliances market between 2017 and 2027?
- What is the future scope and current trends in technologies of the personal care appliances market?
- What is the revenue of the personal care appliances market based on segments?
- Which key strategies are used by top players of the personal care appliances market?
- Which are the leading companies in the personal care appliances market?
Research Methodology - Personal Care Appliances Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the personal care appliances market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the personal care appliances market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the personal care appliances market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from personal care appliances industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the personal care appliances market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the personal care appliances market more reliable and accurate.
Personal Care Appliances Market - Segmentation
TMR’s study on the personal care appliances market includes information categorized into four sections - product, end user, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the personal care appliances market have been discussed in detail.