Game on, an in-depth analysis of the global sports equipment market suggest that the market is anticipated to cross USD 540 Billion by 2029, increasing from USD 372.15 Billion in 2023.
Consumer Goods & Services
A new trend among the younger population all around the world is self-care, which creates higher demands for personal care appliances. – Bonafide Research
Growing corporate culture and the number of working professionals have significantly contributed to an increase in personal grooming awareness. Personal care & grooming have now become a part of everyone’s life to be healthy and look good in society. Personal Care appliances are the electronic devices which are used for grooming, beautification and personal hygiene, such as hair straightener, hair dryer, hair styler, powered toothbrush, power shaver, trimmer and epilator. These types of devices are available in a wide range of portable, different sizes and can easily be taken anywhere. Also the devices are available in wired or wireless form (battery operated). The increasing influence of beauty industry trends on millennials to maintain their overall appearance is driving market expansion. Personal care appliances include electric devices used for grooming, beautification, and personal hygiene.
According to the report titled, “Global Personal Care Appliance Market Outlook, 2027”, published by Bonafide research, the market was valued at more than USD 20 Billion in 2021 and it is anticipated to grow with a CAGR of more than 5% from 2022 to 2027. The global personal care appliances market is expected to reach a substantially large market size in 2027 and register a high CAGR over the forecast period. Personal care appliances offer benefits such as time savings and better results as compared to the traditional procedures used commercially. There is a rise in awareness regarding personal grooming, which adds fuel to the overall market demand for this segment. Growing online sales escalates the market growth of this segment for the projected period. However, lack of durability is a restraint for this market during the forecasted period. The growing disposable income has resulted in increasing the spending capability of the population, which positively impacts the market growth of the personal care appliances market as a greater number of such appliances are purchased by individuals for personal care. The growing geriatric population is a major end-user of such appliances, which is another driving factor for this market.
According to the report, the personal care appliance market is divided into five regions i.e. North America, Europe, Asia Pacific, South America and Middle East & Africa. As most of the big players in the personal care appliance market are situated in North America, that region dominates the whole market for personal care appliances. As most of the players of the market have their headquarters in North America, it has been one of the key factors in dominance of the region. As development are happening in the world, the disposable income of the people is also rising and so, in the forecasted period, the Asia Pacific region is the one having the highest CAGR in the market.
The e-commerce industry is expanding as a result of rising internet usage and an increase in smartphone users across the region. This further fuels online personal care product sales in North America, which in turn influences the expansion of the personal care appliance market there. Vendors are concentrating on enhancing their R&D processes and pricing policies. Their ability to charge more for their products gives them the chance to make significant profits. Additionally, growing consumer interest in health and wellness is fueling the market's expansion of personal care appliances. One of the key factors propelling personal care appliances and tools across the region is the increased focus on beauty and personal care products. Additionally, social media has significantly increased its influence in the worlds of trendsetting, makeup, hair, and fashion.
On the other hand, the Asia Pacific region is among the key markets for personal grooming products, as awareness regarding hygiene and personal grooming is unprecedented across the region. With the majority of beauty-conscious consumers focusing on enhanced hair services, hair care products are emerging as one of the most promising segments of the personal care appliances market. Hair care products such as hair dryers, hair curlers, and straighteners are experiencing massive demand from consumers. Furthermore, the introduction of sophisticated products such as keratin-based hairdryers and straighteners to reduce hair damage is likely to intensify market demand. Asian countries account for a sizable portion of total demand. Because Asian consumers are price-sensitive, low-cost offerings of these products on online channels have a strong influence on them, making APAC one of the most popular avenues for market growth.
Further, in Europe, the drop in salon visits by customers is one of the major factors influencing the need for personal care appliances. The personal care appliances market is substantial and is expected to grow significantly over the next years. Furthermore, Europe is seeing an increase in demand for natural components in personal care products. Due to the increasing significance of environmental issues, sustainability, ethical sourcing, and the associated labeling programmes are becoming more well-known. Additionally, opportunities for natural components are being created by changes in consumer behavior and lifestyles. Despite the fact that these trends are opening up markets for natural ingredients, regulations and unpredictability in the political landscape present significant obstacles for businesses looking to enter the European market.
One of the main drivers of the South American hair care appliances market is consumers' rising concern for their appearance, particularly their hair. Both men and women utilize these techniques to express themselves through their hairstyles and win admiration. Having gorgeous hair not only boosts one's self-esteem but also raises the demand for hair care products. Additionally, the use of hair care appliances by professional hairstylists and hair treatment spas is rising, fueling this market's expansion. There are more social gatherings, parties, weddings, concerts, and other public occasions now that COVID-19 regulations have been loosened, and everyone wants to look their best. As a result, the market for hair care appliances is growing as a result of this rise in social activities. In Middle East & Africa region, increasing disposable income has led to an increase in spending on personal care devices, and the rising prevalence of skin and hair problems is fueling the Middle East and Africa market for personal care appliances. At-home beauty devices have piqued the interest of both existing and new marketers, owing to the rapid advancement of technology in almost every aspect of life and the widespread adoption of these technologically advanced products by consumers.
The personal care appliance market has been bifurcated into male, female and others in gender segment. As with the development in the world, there have been developments in the personal care market and companies have innovated different products for each gender also. It is not time when all people used to have the same product, but now there are different products for different genders. Females are dominating the personal care appliance market by having more than half of the market share. As females are more inclined towards the grooming and keep the body neat and clean. As per the sales channel, the personal care market has been bifurcated into supermarkets & hypermarkets, specialty stores, convenience stores and e-commerce. With the growth of the e-commerce industry in the whole world, the e-commerce sales channel is going to have the highest CAGR in the forecasted period. As now most, the people have smart phones in their hands and also, having low price in online sales, people have started using that sales channel more. E-commerce sales are through the websites of the company or through any other party selling online. Specialty stores are the ones which have only personal care appliances and of some specific brand/company/people. Supermarkets & hypermarkets have a large variety of personal care appliances which can be tried and tested by customers to buy.
Two types of devices are available on the basis of power supply in the personal care appliance market, i.e. wired and wireless (battery operated). Wired devices mean devices which require power supply through a plug to work. While wireless devices are devices which do not require a plug to get power as they have batteries in them to get power for the working of the device. Among these two power supply types, the wired device is the dominating one as it has a market share of more than 62% of the personal care appliance market.
As due the Covid 19 pandemic the whole world was seeing a downfall, which was also seen in the personal care appliance market. As due to pandemic most of the shop were closed which hampered the growth of the market. Due to pandemic the supply chain was also interrupted so for few months there supply disruptions among the various regions. Also due to Covid 19, now people are more concerned about their personal care and hygiene, which is a key factor for the growth of personal care appliance market.
According to the report titled, “Global Personal Care Appliance Market Outlook, 2027”, published by Bonafide research, the market was valued at more than USD 20 Billion in 2021 and it is anticipated to grow with a CAGR of more than 5% from 2022 to 2027. The global personal care appliances market is expected to reach a substantially large market size in 2027 and register a high CAGR over the forecast period. Personal care appliances offer benefits such as time savings and better results as compared to the traditional procedures used commercially. There is a rise in awareness regarding personal grooming, which adds fuel to the overall market demand for this segment. Growing online sales escalates the market growth of this segment for the projected period. However, lack of durability is a restraint for this market during the forecasted period. The growing disposable income has resulted in increasing the spending capability of the population, which positively impacts the market growth of the personal care appliances market as a greater number of such appliances are purchased by individuals for personal care. The growing geriatric population is a major end-user of such appliances, which is another driving factor for this market.
According to the report, the personal care appliance market is divided into five regions i.e. North America, Europe, Asia Pacific, South America and Middle East & Africa. As most of the big players in the personal care appliance market are situated in North America, that region dominates the whole market for personal care appliances. As most of the players of the market have their headquarters in North America, it has been one of the key factors in dominance of the region. As development are happening in the world, the disposable income of the people is also rising and so, in the forecasted period, the Asia Pacific region is the one having the highest CAGR in the market.
The e-commerce industry is expanding as a result of rising internet usage and an increase in smartphone users across the region. This further fuels online personal care product sales in North America, which in turn influences the expansion of the personal care appliance market there. Vendors are concentrating on enhancing their R&D processes and pricing policies. Their ability to charge more for their products gives them the chance to make significant profits. Additionally, growing consumer interest in health and wellness is fueling the market's expansion of personal care appliances. One of the key factors propelling personal care appliances and tools across the region is the increased focus on beauty and personal care products. Additionally, social media has significantly increased its influence in the worlds of trendsetting, makeup, hair, and fashion.
On the other hand, the Asia Pacific region is among the key markets for personal grooming products, as awareness regarding hygiene and personal grooming is unprecedented across the region. With the majority of beauty-conscious consumers focusing on enhanced hair services, hair care products are emerging as one of the most promising segments of the personal care appliances market. Hair care products such as hair dryers, hair curlers, and straighteners are experiencing massive demand from consumers. Furthermore, the introduction of sophisticated products such as keratin-based hairdryers and straighteners to reduce hair damage is likely to intensify market demand. Asian countries account for a sizable portion of total demand. Because Asian consumers are price-sensitive, low-cost offerings of these products on online channels have a strong influence on them, making APAC one of the most popular avenues for market growth.
Further, in Europe, the drop in salon visits by customers is one of the major factors influencing the need for personal care appliances. The personal care appliances market is substantial and is expected to grow significantly over the next years. Furthermore, Europe is seeing an increase in demand for natural components in personal care products. Due to the increasing significance of environmental issues, sustainability, ethical sourcing, and the associated labeling programmes are becoming more well-known. Additionally, opportunities for natural components are being created by changes in consumer behavior and lifestyles. Despite the fact that these trends are opening up markets for natural ingredients, regulations and unpredictability in the political landscape present significant obstacles for businesses looking to enter the European market.
One of the main drivers of the South American hair care appliances market is consumers' rising concern for their appearance, particularly their hair. Both men and women utilize these techniques to express themselves through their hairstyles and win admiration. Having gorgeous hair not only boosts one's self-esteem but also raises the demand for hair care products. Additionally, the use of hair care appliances by professional hairstylists and hair treatment spas is rising, fueling this market's expansion. There are more social gatherings, parties, weddings, concerts, and other public occasions now that COVID-19 regulations have been loosened, and everyone wants to look their best. As a result, the market for hair care appliances is growing as a result of this rise in social activities. In Middle East & Africa region, increasing disposable income has led to an increase in spending on personal care devices, and the rising prevalence of skin and hair problems is fueling the Middle East and Africa market for personal care appliances. At-home beauty devices have piqued the interest of both existing and new marketers, owing to the rapid advancement of technology in almost every aspect of life and the widespread adoption of these technologically advanced products by consumers.
The personal care appliance market has been bifurcated into male, female and others in gender segment. As with the development in the world, there have been developments in the personal care market and companies have innovated different products for each gender also. It is not time when all people used to have the same product, but now there are different products for different genders. Females are dominating the personal care appliance market by having more than half of the market share. As females are more inclined towards the grooming and keep the body neat and clean. As per the sales channel, the personal care market has been bifurcated into supermarkets & hypermarkets, specialty stores, convenience stores and e-commerce. With the growth of the e-commerce industry in the whole world, the e-commerce sales channel is going to have the highest CAGR in the forecasted period. As now most, the people have smart phones in their hands and also, having low price in online sales, people have started using that sales channel more. E-commerce sales are through the websites of the company or through any other party selling online. Specialty stores are the ones which have only personal care appliances and of some specific brand/company/people. Supermarkets & hypermarkets have a large variety of personal care appliances which can be tried and tested by customers to buy.
Two types of devices are available on the basis of power supply in the personal care appliance market, i.e. wired and wireless (battery operated). Wired devices mean devices which require power supply through a plug to work. While wireless devices are devices which do not require a plug to get power as they have batteries in them to get power for the working of the device. Among these two power supply types, the wired device is the dominating one as it has a market share of more than 62% of the personal care appliance market.
As due the Covid 19 pandemic the whole world was seeing a downfall, which was also seen in the personal care appliance market. As due to pandemic most of the shop were closed which hampered the growth of the market. Due to pandemic the supply chain was also interrupted so for few months there supply disruptions among the various regions. Also due to Covid 19, now people are more concerned about their personal care and hygiene, which is a key factor for the growth of personal care appliance market.
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