Global 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).
Westford, USA, Dec. 13, 2022 (GLOBE NEWSWIRE) — The report attributes hair styling tools market growth to a number of factors, including an increase in the number of women working outside the home, a rise in disposable income levels, and a growing trend towards self-expression and individualism. SkyQuest’s analysis also found that the majority of hair styling tool users are young adults, aged 18-34. This demographic is particularly important for manufacturers to target, as they are more likely to be early adopters of new products and trends.
The report concludes with some recommendations for manufacturers in the global hair styling tools market looking to capitalize on this growing market. These include investing in new product development, focusing on digital marketing channels, and expanding into emerging markets such as China and India.
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Several key trends that are driving this growth, including:
Increasing interest in hair care and styling among millennials: Millennials are increasingly interested in hair care and styling, with 43% of them saying they are willing to spend more on hair products and services than they did last year. This is driving demand for higher-end hair styling tools.
The rise of social media: social media has created a new platform for marketing and advertising hair styling products and services. It has also raised awareness about new trends and styles, which is driving demand for Hair Styling Tools.
Innovation in product design: There has been a lot of innovation in product design in recent years, with manufacturers introducing new technologies and features in their products. This has made Hair Styling Tools more effective and easier to use, which is driving growth in the market.
Increasing disposable incomes: Rising disposable incomes are giving people more disposable income to spend on luxury items like hair styling tools including hair straightener, curling iron, and blow dryers.
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Findings: Hair Straightener Generates Over 35% Revenue of Global Hair Styling Tools Market
North America is the largest hair styling tools market, accounting for about 35% of the global market. China is the second largest market, accounting for about 20% of the global market. SkyQuest’s report includes a detailed analysis of the different segments of the hair styling tools industry. The report finds that straighteners are the most popular type of hair styling tool, accounting for about 35% of the total market. Curling irons are the second most popular type of hair styling tool, accounting for about 27% of the total market. Blow dryers are the third most popular type of hair styling tool, accounting for about 15% of the total market. The report also includes a detailed analysis of the different channels through which hair styling tools are sold. The report on the global hair styling tools market finds that mass retailers such as Walmart and Target are the largest sellers of hair styling tools, accounting for about 40% of all sales. Drugstores and supermarkets are the second largest sellers of hair styling tools, accounting for about 30% of all sales. Salon supply stores are the third largest.
The report highlights the increasing popularity of hair styling products among women and the growing demand for professional hair styling services. The report also notes the important role that hair styling tools play in the hair care industry and identifies potential areas for future growth in this sector.
Top 10 Players hold Less than 55% Share of Global Hair Styling Tools Market
The hair styling tools industry is highly competitive, with many companies vying for market share. SkyQuest has released a report analyzing the industry and identifying the key players. The report notes that the industry is driven by innovation, with new products and technologies constantly being introduced. The leading companies in the industry are those that are able to continually introduce new products and stay ahead of the competition. In fact, the global hair styling tools market is flooded numerous local and region players in addition to well-established brand. This fragmentation presents both an opportunity and a challenge for companies operating in the space.
On the one hand, there is significant potential for growth as consolidation brings scale and efficiencies to the industry. On the other hand, consolidation can also be difficult to achieve given the large number of players and diverse geographical markets.
The study on the global hair styling tools market, conducted in August 2022, surveyed over 6,000 women aged 18-65 in the United States, France, Germany, Italy, Spain, and the United Kingdom. Dyson led the pack with a brand score of 86 out of 100, followed by Revlon (65) and Philips (64). The study found that these three brands were significantly ahead of their competitors in terms of both awareness and purchase consideration. In fact, these 3 brands are collectively holding over 30% market Share.
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63% Women Aged 18-34 Use Hair Straightener More Prominently in Global Hair Styling Tools Market
Global hair styling tools market is growing rapidly, with new products and technologies being introduced all the time. In order to stay ahead of the curve, it’s important to stay up-to-date on the latest developments. That’s why SkyQuest conducts an annual survey of the hair styling tools industry. This year’s survey included responses from nearly 500 professionals involved in the industry. Here are some of the key findings from the survey: The majority of respondents (85%) said that they are very or somewhat satisfied with the current state of the hair styling tools industry. over half of respondents (51%) believe that the industry will grow significantly in the next five years. The most popular hair styling tools among professionals are flat irons (48%), curling irons (41%), and blow dryers (37%). When it comes to new product development, professional stylists are most interested in tools that help reduce frizz (56%), improve curl definition (55%), and provide more styling options (54%).
When asked about the biggest challenges in the current hair styling tools market, respondents cited lack of innovation (41%), high prices (32%), and poor-quality products (26%). The survey found that 63% of women use straighteners, while 59% use curling irons. The most popular brand of hair styling tool is Dyson, followed by Revlon and Babyliss. In addition to the brands mentioned above, Gartner’s survey also found that women are using a variety of other hair styling tools to achieve the looks they desire. Hair dryers (57%), hair brushes (54%), and hair clippers (40%) are also popular choices among women.
Key Players in Global Hair Styling Tools Market
Koninklijke Philips N.V., (Netherlands)
Spectrum Brands, Inc. (US)
Dyson Ltd. (UK)
Conair Corporation (US)
Panasonic Corp. (Japan)
Coty Inc. (US)
Procter & Gamble Co. (US)
Helen of Troy Ltd. (UK)
WAHL Clipper corp. (US)
Hamilton Beach Brands (US)
Related Reports in SkyQuest’s Library:
Global Wet Shave Market
Global Lip Care Products Market
Global Vegan Cosmetics Market
Global Natural Hair Care Market
US Hair Brush Market
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