Personal Care Appliances Market Industry Key Vendors, Demand and Supply Analysis Market Report Forecast from 2019 - 2027

 

Technological Innovations Lead to Development of AI-powered Shavers

Conventional single-blade razors pose risks of cuts and injuries to consumers. Manufacturers are experimenting with AI and virtual reality (VR) to overcome the limitations of traditional razors. As such, shavers product segment of the personal care appliances market is expected to account for the third-highest revenue. Hence, manufacturers are tapping into opportunities in AI and VR to increase their offerings in new shaving devices. For instance, in September 2019, Philips announced the launch of AI-powered Smart Shaver series 7000 at the IFA held in Germany.

Moreover, manufacturers in the personal care appliances market are increasing the production of electric razors equipped with multiple high-speed blades. These innovative shavers are increasingly replacing traditional single-blade razors. AI-powered razors are catering to a safer and smarter hygiene routine of customers. Companies in the market for personal care appliances are collaborating with dermatologists to develop mobile apps that cater to the needs of men with sensitive skin. Additionally, companies in the personal care appliances market are offering personalized skin reports to users through the mobile app.

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India Offers Growth Opportunities to Leading Manufacturers

Leading manufacturers in the market for personal care appliances are increasing efforts to fill the gaps in the male grooming segment. World’s largest electronics company Philips, which was valued at ~US$ 2 Bn in the personal care appliances market in 2018, revealed that the company is keen on investments in high-growth countries of Asia Pacific, such as India. Moreover, Asia Pacific is expected to dominate the personal care appliances market, in terms of value and volume, during the forecast period. Hence, manufacturers are expanding into India to increase their market share.

Due to an increase in the uptake of male grooming products in India, manufacturers are increasing production capacities to meet the rising demand from the male demographic. As such, male end user segment is leading the market for personal care appliances, in terms of both value and volume. Thus, leading companies are leveraging opportunities to localize the production of beard trimmers in India.

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Intelligent Smart Charge Technology Increases Uptake of Innovative Trimmers

The personal care appliances market is witnessing technological innovations in trimmers. Besides, trimmers product segment of the personal care appliances market is expected to reach the output of ~500 million units by the end of 2027. Hence, manufacturers are exploring opportunities in lithium-ion technology to increase efficacy in the smart charge technology. For instance, in March 2019, leading U.S. grooming company Wahl Clipper, announced the launch of two new trimmers integrated with the lithium-ion technology.

Companies in the market for personal care appliances are boosting their credibility credentials in the global market landscape, since the intelligent smart charge technology saves power. This innovative technology automatically shuts the unit off once the device is fully charged. Technologies similar to lithium-ion are gaining increased popularity in the personal care appliances market, owing to fast charging and prolonged battery life of trimmers. Moreover, companies are introducing electronic travel lock, which ensures the trimmer does not turn on by accident.

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Companies Invest in R&D to Develop Less Intrusive Hair Dryers

The personal care appliances market is expected to be valued at ~US$ 111 Bn by 2027. However, the market is anticipated to grow at a considerable growth rate of ~3% during the forecast period.

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 market 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.

In terms of product, the hair dryers segment dominated the personal care appliances market. Hence, manufacturers are focusing on the development of super-fast motors to stay relevant in the highly competitive market landscape.

Growing Attention Toward Personal Care: A key driver

• Growing disposable income of consumers is enabling them to spend more on luxury personal care products. People are also concerned about oral healthcare, which has increased the demand for electric toothbrushes worldwide. Nowadays, consumers are opting for personal care appliances rather than traditional products, due to huge social media exposure. Growing personal care concerns is a major factor driving the personal care appliances market globally.
• Moreover, personal care appliances are witnessing high demand from the younger generation, due to increasing focus on personal grooming. Extensive social media influence has made youngsters to continuously change their hairstyle and looks, which is accelerating the demand for personal care appliances and is set to boost the market across the globe.

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