Personal care appliances industry is anticipated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in their personal care appliances Industry report.
Health is something that everybody takes care of regularly. To do so people are using several medical appliances that can provides essential information that can help them be in better shape. This awareness and concern about the personal awareness is propelling the growth of global personal care appliances Industry. Moreover, the development of technologies that can monitor the health status of the body is also another factor that is boosting the growth of global personal care appliances Industry these days.
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How will the Industry Unfold in Coming Years?
“The global personal care appliance Industry is expected to reach to the value of US$ 111 bn by the end of forecast period of 2019 to 2027 –Transparency Industry Research”
For the players willing to enter the global personal care appliances Industry, the road might not be that easy. This is because the Industry is already stuffed with several prominent players that are controlling the dynamics of global personal care appliances Industry. To overcome this issue, the new players are merging and collaborating with some of the established players of the Industry.
With these strategies, the new players can avail immense resources that can help them achieve stability in the Industry. Moreover, the new players are also investing in events such as product launches, this help them acquire major brand promotion and bigger customer pool. These developments are also expected to boost the growth of global personal care appliances Industry in coming years.
Grooming Segment to have Largest Share
Looking good is what every human being wants. Be it the shape of the body or the face, everybody wants to look their best. It is because of these reason, the grooming segment of global personal care appliances Industry holds a significant share. Additionally, the growing demand for products such as trimmers, wearable devices, and treadmills is also a crucial factor that will boost the growth of global personal care appliance Industry in coming years.
There is a growing demand for high power and less intrusive hair dryers that cater to the convenience of customers. However, companies have to invest millions of dollars every week to increase their efficacy in R&D for the development of compact engines in hair dryers. This poses as a challenge for prominent and emerging players in the industry for personal care appliances, since such companies are restricted with limited budgets. Hence, manufacturers are adopting various strategies and reinvesting part of their profits in R&D to increase production of technologically advanced hair dryers.
Asia Pacific Holds the Dominance Over the Industry
“By the end of 2027 Asia Pacific is expected to witness maximum investments by the player, specifically due to growing demand for the personal care products in India –Transparency Industry Research”.
With the growth in the demand for personal care products in countries like China, India, and South Korea, the players are investing a huge amount in Asia Pacific. This as a result has helped the region to acquire a major share in the global personal care appliances Industry. Moreover, the increasing demand for grooming appliances for men in India, the region exhibits promising outcome for the players. It is because of these reasons the region is projected to hold the lion’s share in the global personal care appliances Industry in coming years.
Following Asia Pacific, North America is expected to lead the regional segment of the Industry. This prominence of the region is due to emergence of new players that are developing quality and effective grooming products for both female and male customers.
Role of Technological Advancements
Technology plays a crucial role in the development of global personal care appliances Industry. It is because of technology, the manufacturers are able to develop new and innovative products. For instance, in 2019, Wahl Clipper, a leading player of men grooming products launched its innovative trimmers made by Lithium-ion technology. The stand-out feature of these trimmers is the size of the edges of the blade. They provide a clean and smooth finish to hairs, helping the male users to look attractive.
The development of these trimmers was possible due to presence of technologically advanced lasers and fine technologies that can cut and shape the blade to make them easy and comfortable for the users. It is therefore rightfully said that technology can easily accelerate the growth of global personal care appliances Industry in future.
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