The North American hair styling tools market was valued at USD 1,918. 67 million in 2020, and it is projected to witness a CAGR of 1. 66% during the forecast period (2021-2026). The market for hair styling appliances in the North America has been moderately affected by the COVID-19 pandemic, the major impact has been observed among the beauty and hair salons due to the lockdown norms.
New York, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Hair Styling Tools Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06129747/?utm_source=GNW
However, the demand for home hair styling appliances has seen an upsurge demand in the category.
Further, a US-based hair styling tool company Chi hair tools stated that at the beginning of the COVID-19 pandemic, the company lost 98% or 100% of its business. However, the company is able to make it up with the pivot to consumer-facing marketing, the company’s DTC e-commerce sales grew by 600% from April to August 2020.
The market studied has witnessed significant growth, following the surge in expenditure pertaining to hair grooming and styling products. Major players are continuously involved in introducing novel products that enable individual consumers to create desired hairstyles.
Wireless and portable hair dryers meet 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 automatically modify heat settings.
Key Market Trends
Increasing Inclination Toward Self Hair Styling Routine
Increasing concerns related to health, body-image, 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.
Furthermore, the low-cost and time-saving benefits associated with these products are widely promoted by the companies on social media. Additionally, the players operating in the market such as Philips are offering products that are innovative and technologically advanced, which can help in hair styling easily at home.
Domination of United States in the Hair Styling Tools Market
The United States holds for major share in the North American hair styling tools market, with a large number of consumers with high disposable income and a high and impactful presence of key brands via online and offline channels.
The US population significantly spends on personal grooming appliances, with average household unit spending of USD 768 on personal care products and services in 2018, and it is ready to adopt new products, mostly those with convenience and customized portfolio, which is driving the sales of hair styling tools and appliances in the country. This factor attracts most companies to choose the United States as their market of focus.
While the prevalence of a rising disposable income, consumers are increasingly opting for premium and multifunctional products, leading to the technological advancements in new product launches.
With key market players launching innovative, compact, portable, cordless, and smart products, the demand for hair styling tools in the United States is expected to rise over the forecast period.
The North American hair styling tools market is a competitive market, as the majority of the share is held by Conair Corp., Spectrun Holding Inc., and Koninklijke Philips NV. The other players in the hairstyling tools market are giving strong competition to each other in the country. These players are focusing on leveraging opportunities in the markets to expand their product portfolios so that they can cater to the requirements of various consumers, especially related to portability, heat damage control, and highly efficient hair styling tools that can style the hair in less time as compared to conventional hair styling tools.
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