Technavio analysts forecast the global household beauty appliances market to grow at a CAGR of close to 6% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global household beauty appliances market to grow at a CAGR of close to 6% by 2023. (Graphic: Business Wire)
The introduction of smart household beauty appliances is one of the major trends being witnessed in the global household beauty appliances market 2019-2023. Growing demand for household beauty appliances and increasing use of smart and featured appliances have encouraged vendors to introduce more smart beauty appliances. These appliances are user-friendly, equipped with the latest features, and have aesthetically improved designs. The improved features and advances in technology offer highly efficient beauty treatments. Smart household beauty appliances also offer varied features enabling users to address various other beauty concerns using one device.
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According to Technavio analysts, one of the key factors contributing to the growth of the global household beauty appliances market is the evolving fashion trends and increasing fashion consciousness among consumers:
Global household beauty appliances market: Evolving fashion trends and increasing fashion consciousness among consumers
Evolving fashion trends, including hairstyles, are propelling the demand for beauty products and appliances, thereby raising fashion consciousness. These trends open new avenues for vendors to offer products per evolving trends and consumer demand.
According to a senior analyst at Technavio, "Vendors implement marketing strategies such as making contracts with celebrities, especially from the fashion and entertainment industries, to endorse products. This has a significant impact on beauty products as consumers relate and emulate celebrities as their style icons. For instance, in India Koninklijke Philips hired Hindi film actor Alia Bhatt to endorse its KeraShine Hair Dryer and Styler."
Global household beauty appliances market: Segmentation analysis
The global household beauty appliances market research report provides market segmentation by product (hair styling appliances, hair removal appliances, and other beauty appliances), by distribution channel (online and offline), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The hair styling appliances segment held the largest market share in 2018, contributing to over 42% of the market. This application segment is expected to continue to dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for more than 42% share, followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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