Published Date : 09 Dec 2022
The global hair dryer market size was exhibited at USD 9.6 billion in 2022 and is expected to hit around USD 15.6 billion by 2030, poised to grow at a CAGR of 6.26% over the forecast period from 2022 to 2030.
The hair dryer market is foreseen to grow at a rate of 6% during the forecast period till 2030. The hair dryer market is currently increasing due to the low cost of hair dryers that are available to people. These devices are also known as blow dryers which are basically used for drying out wet hair easily. These machines or hot air blowers have different types of blowing speeds which help in evaporating the water content or dampness in the hair. Professional salons are the primary users of these machines, which leads to the tremendous growth of the current market. Other than that household users help in boosting the market of hair dryers. The adoption of the western way of life is also responsible for boosting the hair dryer market.
Hair Dryer Market Report Scope
| Report Coverage | Details |
| Market Size In 2022 | USD 9.6 Billion |
| Market Size By 2030 | USD 15.6 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 6.26% |
| Base Year | 2022 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | By Type, By Product, By Application, By Distribution Channel, By Price Range |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
Report Highlights
As the majority of the population lies between the age group of 18 to 45 years the use of self-grooming devices such as hair dryers has increased which helps the market to grow. Increasing awareness and consciousness among people to look good and presentable has also helped to boost the hair dryer market. The major brands existing in the hair dryer market failed to provide a lower cost for these devices whereas the local manufacturers offer these devices at lower prices but fail to produce a quality product. But the adoption of modern-day lifestyle has helped the hair dryer market to grow under all circumstances.
Regional Snapshots
North America provides the biggest hair dryer market because of the existing population and the established fashion market. Significant growth in the market is seen in the Asia Pacific region due to the developing fashion industry and increasing consciousness among people to groom themselves. The other countries which help in supporting the market growth of hair dryers are Canada, Mexico, France, Germany, Netherlands, Spain, Russia, China, India, Australia, and many others.
Market Dynamics
Drivers
The tremendous increase in the number of youngsters has proved to be a major driving force to boost the hair dryer market. Along with this the increasing need for grooming oneself has also proved to be a boon to the market. This in return has led to an increase in the number of saloons and parlors and self-grooming businesses which have helped the hair dryer market to show tremendous growth. The use of artificial intelligence in the recent machines that are developed also helps to boost the market. Rapid urbanization has also helped in the growth of the market.
Restraints
The hair dryer market shows a decline when the high cost of the product is taken into consideration. Which acts as a major setback for the industry. The common man is not able to afford such devices and hence it leads to the decline of the market as the majority of the population falls in this category. Due to the COVID-19 pandemic, the income of the majority of the population has reduced to below average, which has also led to a decline in the market as people are not able to afford such devices. A market where cordless hair dryers are into recent fashion, corded hair dryers are still struggling to show steady growth in the market due to factors such as the availability of continuous power supply, especially in developing nations.
Opportunities
The huge working-class population that exists in the world helps in the growth of the hair dryer market. Being a working class, the younger generation needs faster and better ways to groom themselves, and hence the use of hair dryers has increased over the past few years. Recent modern technology is used in hair dryers that are able to give better results without damaging the hair. It has led to an increase in the number of people opting for hair dryers. The increase in the number of self-care industries and private saloons has also helped to boost the hair dryer market to a great extent. The increase in the variety of hair dryers such as corded and cordless has helped to increase the demand of these devices.
Challenges
The unorganized market of hair dryers caused due to the local players has proved to be a challenge. This fragmentation has led to competition with a varied level of prices offered by these markets. Hence creating a lack of stability in market growth. The major company companies and developers face a greater challenge due to the existence of local manufacturers. On the other hand, the local manufacturers find it difficult to enter the market where the bigger brands are showing their performance. This rift in the hair dryer market leads to instability and hence the growth is hindered. Due to a lower replacement rate for these devices and their lower life span which is approximately around three years the demand for such devices declines in developing nations. The lack of better products at lower costs also poses a great challenge in front of the hair dryer market.
Recent Developments
The advanced technology used in the development of. Cordless hair dryers. Has increased the demand. Of such devices. The hair dryer market. It's foreseen to develop new growth opportunities. By 2029. Dog hair dryer market. Is another. Factor that has helped. The hair dryer market. To show. Better performance Which is expected. To show. A growth. Let us see AGR. Of 5%.
Key Players in the Report
Market Segmentation
By Type
By Product
By Application
By Distribution Channel
By Price Range
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