Personal Care Appliances Market Analysis

Personal Care Appliances Market Analysis

The hair care segment is expected to observe a 4.5% growth rate through 2027 led by the increasing product awareness among the millennial population. A shift in willingness to spend on personal care products offering effective & faster results will augment the market progression. Growing concerns about physical appearances of men & women will stimulate the segment expansion.

The increase in demand for personal hair care appliances can be accredited to shift in consumer preferences from harmful chemical-based hair styling products to electrical styling products. Market players are using smart technology to amplify their customer experience and are working on developing appliances that consume lesser energy. For instance, in January 2019, AER introduced world’s first cordless hair dryer. AER dryer uses Lithium Silicon battery and provides lesser carbon dioxide emissions. The personal care appliance uses AI technology and offers personalized solutions according to hair length, hair types, and weather conditions.

The battery-operated appliances dominated more than 50% of the personal care appliances market share in 2020. Rechargeable battery-powered personal care appliances are gaining popularity due to their convenient usage. These appliances are completely portable, making them travel-friendly. Cordless appliances such as hair trimmers, shavers, and epilators are witnessing a high market representation among male & female consumers as these appliances are hassle-free and user-friendly compared to corded personal care appliances.
 

The market leaders are launching cordless devices with long battery life to provide more convenience to the users. For instance, in May 2020, Philips introduced USB cordless beard trimmer BT1215/15. The cordless beard trimmer comes with stainless steel blade and different length setting options.
 

The online segment will register a CAGR of 6.5% by 2027. Rising penetration of smart phones and internet will foster the segment demand. According to the report published by India Brand Equity Foundation, in March 2021, India’s e-commerce order volume increased by 36% in the last quarter of 2020, led by personal care and wellness & beauty. In addition, e-commerce market players offer a variety of personal care appliances at discounted prices, positively influencing the industry progression.
 

Asia Pacific personal care appliances market size was over USD 7 billion in 2020 owing to the presence of a growing youth population, increasing disposable income, and rapid urbanization. Increasing brand awareness and rapid growth in social media users in India will drive the market in this region.
 

The emergence of several new manufacturers in China, India, and Japan will contribute to the industry statistics. Several industry participants in APAC, such as Panasonic Corporation, Colgate Palmolive, Philips, and others, are adopting competitive pricing strategies to capture a high consumer base and are developing customer-specific personal care appliances to cater to their requirements.