The rise in the adoption of western culture in many developing nations across the globe is estimated to boost the sales growth in the global hair dryer market in the forthcoming years, highlights a study by Transparency Market Research (TMR). Moreover, the TMR study notes that the global hair dryer market is prognosticated to register growth at a CAGR of 6% during the forecast period of 2020 to 2030 and gain a valuation of US$ 12.4 Bn by 2030.
Rising Focus of Players on Developing Devices That Cater to Customer Demands Boost Sales Opportunities in Market
People across the globe are increasing the demand for hairdryers that are customizable, easy to use, and can fulfill their lifestyle requirements. Hence, hairdryer manufacturers from around the world are focusing on the development of technologically advanced products. Hence, many market players are seen investing heavily in R&Ds.
Companies are incorporating advanced filters as well as professional concentrate nozzles in their devices in order to provide a more focused airflow and superior coverage. Such innovations are helping in the expansion of the global market for hairdryer. In addition, several enterprises are focused on offering hair dryers that allow for fast hair drying with no need of extreme heat. These efforts are expected to shape the growth curve of the global hair dryer market in the years to come.
Wireless Hair Dryers with Detachable Cords Gain Prominence Globally
The popularity of wireless hairdryers with detachable cords has been on the surge in recent years as these devices can be used even when the batteries are out of power. Moreover, market players are focusing on the development of compact-sized wireless hair dryers. In addition, several companies operating in the global hair dryer market are increasing new product launch activities in order to expand their product portfolio. These efforts are prognosticated to help in the rapid expansion of the global hair dryer market in the future years.
Some of the key players operating in the global hair dryer market include Dyson Limited, Panasonic Corporation, Groupe SEB, Procter & Gamble (Braun), Koninklijke Philips N.V., and Conair Corporation.