The personal care appliances market has been forecast to reach a total of 600 million units by 2018, driven by the growing consciousness regarding hygiene, health and personal grooming, rising income levels, and the adoption of sophisticated lifestyles.
The market is expected to grow at a steady pace in the near term driven by improving economic environment and increasing consumer confidence.
All these factors have been instrumental in the sustained growth the market witnessed over the years. Even the recent economic recession could not dent market prospects, except for a marginal sloth in growth pace over 2008-09.
Despite the fragile economic environment due to the ongoing eurozone crisis and the resultant weakening of consumer confidence, demand for personal care appliances continues to remain modest, given the perpetual obsession among men and women to look young and beautiful.
With consumers becoming increasingly conscious about their health and looks, several personal care appliances have become a part of their routine life.
Hair dryers and curling irons are well accepted in the market, while massagers, trimmers, and electric toothbrushes are fast gaining popularity, worldwide. Hair clippers, hair setters, and shaving systems with technologically advanced features are penetrating the market with a full swing.
Oral Care appliances represent the fastest growing product category. One of the major challenges faced by companies active in the global oral care sector is the high market penetration. In order to avoid commoditisation of products, manufacturers are coming out with new and effective methods to single out their brands and to carve out new niches within existing markets.
Overall, the market for personal care appliances is extremely competitive and highly price-sensitive with minimal profit margins. The entry of new players and availability of suitable substitutes further limits profits in the industry. A handful of well-known brands dominate various segments of the personal care electrics market including Colgate-Palmolive, Johnson & Johnson, Panasonic Corporation, Royal Philips Electronics NV, Procter & Gamble, Braun GmbH, and Remington Products Company.
For more information on the personal care appliances market, see the latest research: Personal Care Appliances Market
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