The global electric hair clipper & trimmer market size is projected to value USD 6.3 billion by the year 2025, according to a new report published by Million Insights, with a CAGR of 2.5% from 2019 to 2025. The introduction of new products with advanced designs is the driving factor for the market of electric hair clipper & trimmer. For example, Xiaomi MI, in June 2019, introduced a beard trimmer in the Indian market. The main features of the product include cordless/corded usage, waterproof, travel lock, stainless body, and better battery life.
Key Players:
The key manufacturers include Wahl; Koninklijke Philips N.V.; Procter & Gamble (Braun GmbH); Andis Company; Panasonic Corporation; Spectrum Brands, Inc. (Remington); Conair Corporation; Sunbeam Products, Inc.; (Oster Professional); Havells India Ltd; and VEGA. Market players are focusing on strategies like mergers &acquisitions and new product launches to increase their dominance in the market. For example, Havells India, in February 2017, entered the industry with an objective to acquire over 20% share of the men’s grooming industry in the Indian market by 2019.
Growth Drivers:
The ongoing fashion for the beard is predicted to surge the demand for electric clippers in the near future. The trend for keeping a beard is growing among men as it gives them an appealing look. The volume of sales of razors has observed a significant decline since people generally prefer using an electric trimmer or have a full beard look. Additionally, the awareness of sustainable products has led to reduced sales of disposable razors. For example, as per the U.S. Environmental Protection Agency, around 2 billion disposable blades and razors were produced in America wherein, only 160 million consumers used these razors. These factors are anticipated to result in higher usage of electric hair clipper by 2025.
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Product Outlook:
The cordless clippers segment held the largest share in 2018. These electric hair clippers& trimmer are easy to carry, readily accessible, and battery operated. These are termed as the most suitable for people who prefer to carry their styling products while traveling. The launch of products with better battery life is the key factor surging the demand for these products. For example, Wahl, in March 2016, launched a beard-only trimmer to assist the rising trend for the beard. The electric trimmer consists of advanced lithium-ion batteries.
The corded electric trimmer segment is projected to grow at a CAGR of 1.7% from 2019 to 2025. The launch of products with upgraded features like comfortable grip, compact design, and ergonomic shape is anticipated to surge the demand for corded hair clippers in the near future. Furthermore, these trimmers consist of a high torque motor and superior quality guard comb for outstanding performance. The launch of products with better blade design is predicted to have a favorable effect on the growth of electric hair clippers & trimmer markets. For example, companies like Xiaomi and Philips, in 2019, have launched trimmers, in India, which blades can sharpen themselves.
Distribution Channel Outlook:
The offline channel held the largest market share of 87.3% in 2018. Electric hair clippers & trimmers are extensively sold by stores like Walmart, Costco in North America. The increasing penetration of such retailers globally will result in higher product visibility and thereby, anticipated to surge the demand for electric hair clippers & trimmers during the forecast period. For example, Walmart, in December 2018, extended its reach in China. The company has collaborated with a Chinese company named Dada-JD-Daojia.
As per a survey, over 65% of the consumers tend to buy from brick and mortar shops than online stores. Additionally, offline stores provide benefits such as physical verification of the items before purchasing, refrain from incurring shipping costs along with consultation with a sales representative. The penetration of e-commerce giants like Amazon in physical stores in economies like Canada, the U.K., and the U.S is likely to supplement the segment growth from 2019 to 2025.
Regional Outlook:
The Asia Pacific held the largest market in 2018. The rising trend for beard among young men coupled with product visibility is expected to be the major driver for market growth from 2019 to 2025. Moreover, the increased expenditure on male grooming by the Indians is predicted to enhance the sales of hair clippers in the near future.
Middle East & Africa is expected to register the fastest CAGR of 3.7% over the forecast period. The rising young population in Nigeria has resulted in the sales of hair care items including electric trimmers thus, contributing to product growth. The increasing number of internet users along with growing celebrity endorsements and rising cable TV penetration is positively influencing consumer choices.
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