U.S Hair Brush Market is Expected to Grow at a CAGR of 0.02% from 2012 to 2022 | Hexa Research
“U.S hair brush market” size is projected to exceed USD 1.3 billion by 2022. Growing population along with escalating disposable income is likely to facilitate people to increase expenditure capacity on hair care and hairbrushes.
Felton, United States – June 29, 2016 /MarketersMedia/ —
U.S hair brush market size is projected to exceed USD 1.3 billion by 2022, growing at a CAGR of 0.02% from 2012 to 2022. Growing population along with escalating disposable income is likely to facilitate people to increase expenditure capacity on hair care and hairbrushes. Hike in per capita disposable income as well as customer capacity can be attributed to declining unemployment rates over the forecast period. Urbanization coupled with growing consciousness for hair grooming products is expected to fuel hair brush market demand.
The U.S. hair brush industry is forecast to witness significant surge, owing to rising number of salons. Flourishing significance of personal aesthetics along with ascending working women population is estimated to propel the industry. In addition, advent of trusted product brands paired with proliferating grooming consciousness among men are expected to act as catalyst for increasing number of salons in the market. Furthermore, intensifying demand for anti-aging treatments and improving standard of living is anticipated to favorably impact the industry. According to GCI magazine, total revenues from the salon industry were hiked by 2.7% in 2013, owing to hair, nail and skin services, whereas 2% growth was observed in hair cutting and styling services in 2013.
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Lack of awareness regarding the use of right product and purchases from unorganized sector may pose a challenge to the industry. In addition, emergence of ultra-modern hair brush might hamper industry growth. Growing adoption of personal hair brush due to its low cost is estimated to exhibit high growth opportunities. Expediting use of professional air brushes owing to increasing number of salons is likely to furnish potential avenues for the U.S hair brush market.
Application Overview
Personal applications accounted for over 95% of the overall industry share in 2014. It is anticipated to be valued over 1.2 billion by 2022. Growing trend among individuals to portray individuality is likely to drive the industry demand over the forecast period. Professional sector was valued over USD 10 million in 2014. It is expected to exceed USD 16.5 million by 2022, growing at a CAGR of over 6% from 2012 to 2022. The surge in the industry can be attributed to growing number of salons in the region.
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Competitive Market share
U.S hair brush market share is highly consolidated by top two industry participants accounting for major industry share in 2014. Conair accounted for more than 45% of the overall industry share in 2014. Denman is also anticipated to be the key industry player owing to wide range of general and styling brushes offered in the industry.
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