Personal care electrical appliances in the global market include hair care appliances, hair removal appliances, oral care appliances, and other appliances such as foot massagers and heating pads. Electric- and battery-operated appliances are taken into consideration while estimating the market. Improving economic environment, growing aging population, and increasing disposable income are the key drivers of this market. Lack of awareness regarding novel products and durability are the key restraints for the market. The market segment for hair dryers exhibits mature product cycle in the developed economies with a strong market in the emerging economies. However, newer products, such as oral care appliances, are projected to gain awareness in the emerging economies. Lack of durability is another factor that hampers the market growth. Although premium products are durable, numerous local companies offer non-durable products, which create reluctance among customers towards buying these products.
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Factors having impact on the global market
The world personal care electrical appliances market is impacted by various positive and negative factors. The overall growth of the market is a result of the overall impact generated by the active factors. The below chart represents the impact of drivers and restraints in the current scenario and their impact analysis for the forecast period.
Growth in geriatric population has fueled the demand for personal care products including electrical appliances used as grooming products. The impact of this driver is substantially strong in the current business scenario that is expected to increase during the forecast period. As per estimates and forecasts by the UN, the global rise in ageing population would witness a steady growth throughout 2050. Thus, this factor would continue to drive the market, and its impact would increase in the near future.
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Untapped Asia-Pacific and LAMEA markets
Asia-Pacific and LAMEA are the two important regions that hold immense growth potential for this market. Technological advancements and growing awareness among consumers are the key factors encouraging consumers to shift from manually operated tools to electricity or battery operated appliances for hair care, oral care, and other health & hygiene products. The continuous improvement in standards of living in these regions has posed lucrative opportunities for the market players to expand their foothold in the Asia-Pacific and LAMEA regions during the forecast period.
Lack of Durability
Lack of durability is one major concerns of electrical appliances used for personal care. Branded products offer satisfactory durability for such products, but are not very long lasting. Heating problems have been observed in hair dryers and straighteners of some of the branded manufacturers, which have led to product recalls. These issues along with appliance failure due to reasons such as problems in blade heads, motors, and other electronic components have hampered the growth of the market. However, the impact of this restraint is expected to reduce during the forecast period with the introduction of innovative premium products.
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