Portland, OR : According to a new report by Allied Market Research entitled, “Global Personal Care Electrical Appliances Market – Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020″, the global personal care electrical appliance market is expected to reach $22.8 billion by 2020, registering a CAGR of 7.1% during 2014-2020. Hair care appliances hold lion’s share in this market followed by hair removal appliances, collectively capturing around 75% of the global market throughout the forecast period. North America is the largest market and is expected to retain its position during the forecast period.

To request a sample copy of the research, visit the website at http://www.alliedmarketresearch.com/personal-care-electrical-appliances-market

The demand for personal care electrical appliances is growing at a steady pace. The market is witnessing increased per-year growth of demand for these appliances throughout the globe. However, the adoption is faster in APAC and LAMEA. With the increasing penetration in the North American and European market, especially for the products such as hair straighteners and dryers, manufacturers are now targeting developing nations such as India and China as the potential markets. Growing population and improving economic conditions are the key reasons fuelling the growth of personal care markets in these regions.

China has attracted a huge number of manufacturers of personal care electrical appliances and has transformed itself into a cost-effective manufacturing hub. Many of the companies have shifted their manufacturing base from West to the East, and especially to China due to the low labor and other manufacturing expenses. However, recent strengthening of Renminbi (the official currency of China) would increase the overall price of the exported products. Expectedly, this scenario will lead to a shift in the manufacturers’ strategy from low-cost offering to product differentiation and innovation. This is also expected to bring an arrangement in production bases and distribution channel, so that the final price of the product can be lowered down.

The personal care electronic appliances market has a limited number of players and the top ten companies that dominate the market holds approximately 70% of share. Rest of the market is captured by other small brands and local non-branded products. Procter & Gamble and Conair are the two leading companies in the market. The market for non-branded products is decreasing gradually as people are now more concerned about the quality. This change in the consumer preferences has been noticed even in the developing nations. Hair care appliances are expected to lead the global market during 2013-2020, followed by hair removal products. However, hair removal products are expected to grow at a comparatively faster rate favored by expected replacement of manual razors and shavers with electric shavers. Amongst hair care appliances, the hair stylers market would grow at the fastest rate as people are more interested in getting styled hair rather than just straightening. Oral care appliances are gradually gaining prominence in the global market and is expected to be the fastest growing product segment during the forecast period.

Key findings of the study

Among various types of personal care appliances, oral care appliances would grow at the fastest CAGR of 9.7% during 2014 to 2020

Within the hair care segment, hair straighteners continues to have the biggest market, but stylers would grow at a fastest CAGR of 8.4% during 2014-2020

Powered toothbrush held nearly 3/4th of the oral care market in 2013

North America would continue to lead the global market during 2013-2020

Asia-Pacific would witness the highest CAGR of 10.5% during 2014-2020, though it would still remain the third largest market by 2020

North America holds the largest market share and is expected to continue its hold on the global market throughout the forecast period. Europe is the second-largest market in the current scenario followed by APAC. As western countries are developed, fashion and grooming is of greater importance in these regions compared to APAC and LAMEA. Therefore, such products are limited to higher class people in the APAC region. However, improving economic conditions, enhancement in lifestyle and increasing hygiene awareness are the key factors propelling the market particularly in Asian countries. Panasonic and Philips are some of the key companies enjoying a strong foothold in the APAC market. Philips is benefiting from awareness and brand reputation that it has built in the Asian countries. Remington Products Company, Procter & Gamble, Conair Corp., Philips, Panasonic Corporation, Groupe SEB, Colgate Palmolive, Helen of Troy L.P., HoMedics Inc., and LION Corp are the leading global players in this market.