Electric Hair Clipper & Trimmer Market Size Worth $6.3 Billion By 2025
The global electric hair clipper & trimmer market size is anticipated to reach USD 6.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.5% over the forecast period. Launch of innovative products with improved design is a main factor driving demand for electric hair clipper & trimmer. For instance, in June 2019, Xiaomi MI launched a beard trimmer in India. Key features of the trimmer include stainless body, corded/cordless usage, improved battery, waterproof, and travel lock. The clipper is especially designed for the Indian market.
Growing trend of beard is expected to fuel demand for electric clipper over the forecast period. Popularity of beard is steadily increasing as it makes men look stylish and sexy and appealing to the potential partner. Sales of razor has been decreasing steadily across the developed countries mainly because people in these countries either opt for full beard look or use electric trimmer. Moreover, consumers in these countries are shifting towards environment friendly products, thus minimizing use of disposable razor. For instance, according to the U.S. Environmental Protection Agency, America produced 2 billion disposable razors and blades. According to a study, in 2018, more than 160 million consumers in U.S. used disposable razors. Such factors are expected to fuel adoption of electric hair clipper over the forecast period.
Cordless products held a leading market share in 2018. These clippers are battery operated, more handy, and accessible to carry around. Cordless clipper is the best for people who love to travel and like to carry their hair styling routine with them. Launch of innovative products, coupled with improved battery life, is a main factor expected to fuel the demand for cordless electric clipper. For instance, in March 2016, Wahl introduced beard only trimmer to support growing facial hair trend. The product is especially designed for trimming beard and is equipped with powerful lithium ion battery.
The offline channel segment held a leading share of 87.3% in 2018. Rising presence of these retailers across the world will increase the product’s visibility and thus, in turn, is expected to have a positive impact on the growth of the market. The online segment is anticipated to expand at the fastest CAGR of 4.1% from 2019 to 2025. Increasing presence of e-commerce retailers in tier II and tier III cities, coupled with introduction of same day delivery services, is expected to boost the sales of these products through online channel. For instance, as of 2019, Amazon Retail India have presence in more than 100 cities and plans to expand in 60 tier II and tier III cities by the end of 2020. Most of the prominent companies also have their own sites, which contributes to the segment growth.
Asia Pacific held a leading market share in 2018. Increasing product visibility, coupled with growing trend of beard among young men, is a main factor expected to boost the demand for the electric trimmer over the forecast period. Middle East and Africa is anticipated to expand at the fastest CAGR of 3.7% from 2019 to 2025. Increasing spending on male grooming is a main factor expected to fuel the use of electric trimmer in the region.
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Further key findings from the report suggest:
- Asia Pacific held a leading share of 51.3% in 2018 due to growing penetration of technologically advanced products and increasing spending on male grooming
- Cordless products are anticipated to witness the fastest growth from 2019 to 2025 due to introduction of products with improved battery life, coupled with improved ergonomics
- Offline channel generated a revenue of USD 4.6 billion in 2018. Online channel is expected to register the highest CAGR of 4.1% over the forecast period due to increasing penetration of e-retailers such as Amazon and Walmart in tier II and tier III cities
- The electric hair clipper & trimmer marketis highly competitive due to presence of prominent vendors including Koninklijke Philips N.V.; Wahl; Spectrum Brands, Inc.; Procter & Gamble; Panasonic Corporation; Conair Corporation; VEGA; Sunbeam Products, Inc.; and Havells India Ltd.