Global Personal Care Electrical Appliance Market is Expected to Reach $22.8 Billion by 2020

Date: 2015-06-11

“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.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 toChina due to the low labor and other manufacturing expenses. However, recent strengthening of Renminbi (the official currency ofChina) 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.

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