Hair Styling Tools - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Hair Styling Tools - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Hair Styling Tools Market size is estimated at USD 11.51 billion in 2024, and is expected to reach USD 14.34 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).

The market studied witnessed significant growth following the surge in expenditure on hair grooming and styling products. Major players are continuously introducing novel products that enable individual consumers and professional salon operators to create desired hairstyles. Wireless and portable hair dryers meet the convenience needs of individuals, thus, driving the market forward. Cordless and rechargeable AER dryers are posing stiff competition to companies, such as Philips, in the wireless hair dryers category. Companies in the hair dryer market use lithium-silicone batteries to innovate in portable dryers. Wireless products are an upgrade in the hair dryer category, where the smart sensors analyze the surrounding air quality and humidity to modify heat settings automatically.

Over the medium term, the market for hair styling tools is expected to witness significant growth following the surge in rising expenditure on hair grooming and styling globally.

Furthermore, innovations in material composition, user-friendliness, portability, lighter weight, and applicability in multiple scenarios have garnered significant traction and attention among professional hair care salons and consumers. They use these products, augmenting the market's growth over the past few years.

Hair Styling Tools Market Trends

Increasing Inclination Toward Self Hair Styling Routine

Increasing concerns related to health, self-grooming, and hygiene among men and women is the key factor driving the market. Growing awareness about the importance of overall hair styling and care regime, coupled with emerging trends in fashion, and social media's influence toward aesthetically appealing looks, is also expected to boost the market growth. For instance, in September 2021, Shark Ninja, a US-based company offering hair care products, introduced a new Shark HyperAIR™ Hair Dryer, an ultra-fast drying tool with no heat damage and styles for all hair types.

Asia-Pacific is the Fastest Growing Region

Over the study period, the Asia-Pacific region is witnessing hair styling product innovations in size, design, and use. This trend will likely propel market growth in the region over the coming years. Furthermore, increasing awareness about the heat damage caused by hair straighteners is one of the significant factors influencing customers' purchasing behavior. Consumers in the region are now looking for products with advanced settings to protect and nourish their hair. The rising disposable incomes of the consumers in the area have allowed them to select and purchase styling tools that cater to their needs. Due to this factor, the key players in the market remain focused on innovating products that minimize or eliminate the scope for damage. This factor is expected to boost the sales of hair styling products in the region over the next five years.

Hair Styling Tools Industry Overview

The Hair Styling Tools Market is highly competitive, with multiple regional and international players offering a wide range of products in terms of innovation, competitive pricing, functionality, and packaging. These players have been leveraging opportunities to expand their product portfolios and cater to the demands and requirements of consumers. It includes portability, heat damage control, and highly efficient tools that can style the hair in relatively lesser time when compared to conventional hair styling tools. The major players in the market include Philips N.V., Panasonic Corporation, TESCOM, WAHL Clipper Corporation, and Andis Company, among others. They have been focusing on strategies, such as social media marketing, partnerships, mergers & acquisitions, and building online distribution channels to expand their outreach and brand and product visibility across geographical boundaries.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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