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.
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.
Cordless products accounted for the largest share in 2018. The electric clippers are easy to carry, battery-operated, and accessible. Cordless clipper is highly suitable for people who prefer carrying their styling products while traveling. For example, Wahl, in March 2016, launched a beard only trimmer to keep up with the trend. The product consists of a superior lithium-ion battery.
The online channel is expected to register the fastest CAGR of 4.1% over the forecast period. The growing penetration of e-commerce retailers across different cities along with benefits like same-day delivery is predicted to surge the demand for these products via online channels. For example, Amazon Retail India, till 2019, had its reach over 100 cities and aims to grow in 60 tier-III and tier-II cities by 2020. The offline distribution channel accounted for the largest share of 87.3% in 2018. The presence of several retailers will lead to product visibility and therefore, estimated to have a favorable impact on growth for electric hair clipper & trimmermarket.
Asia Pacific held the largest market in 2018. The rising trend of beard among men coupled with increased product visibility is the key factor anticipated to drive the demand for the trimmer in the near future. Middle East & Africa is expected to grow at a CAGR of 3.7% over the forecast period. Rising expenditure on male grooming products is the key factor to accelerate the demand for electric trimmer in this region.
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Further key findings from the report suggest:
• Asia Pacific accounted for the largest share of 51.3% in 2018 owing to the increased expenditure on male grooming and the availability of technologically advanced products.
• Cordless products are expected to account for the fastest growth over the forecast period due to the launch of products with better ergonomics and battery life.
• Offline channel valued at USD 4.6 billion in 2018 while the online distribution channel is predicted to expand at the highest CAGR of 4.1% from 2019 to 2025 owing to the presence of online retailers like Walmart and Amazon across different cities.
• The key players include Wahl; Koninklijke Philips N.V.; Procter & Gamble; Spectrum Brands, Inc.; Panasonic Corporation; VEGA; Conair Corporation; Havells India Ltd; and Sunbeam Products, Inc.
Million Insights has segmented the global electric hair clipper & trimmer market on the basis of product, distribution channel, and region:
Electric Hair Clipper & Trimmer Product Outlook (Revenue, USD Million, 2015 - 2025)
Electric Hair Clipper & Trimmer Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Electric Hair Clipper & Trimmer Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa