Expansion of the beard trimmer market is driven by increase in number of consumers who are conscious about their appearance
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, August 8, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Beard Trimmer Market,” The beard trimmer market was valued at $5.7 billion in 2021, and is estimated to reach $13.0 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031.
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Rapid expansion of metro cities, rise in urban population, and rise in trend of keeping beard as fashion symbol are expected to support growth of the market. Young people are increasingly choosing to keep beards and moustaches as a fashion statement. Increase in number of fashion-conscious consumers and rise in number of salons across the globe has further led to growth of the Beard Trimmer Market. Advanced and skin-friendly blades of beard trimmers, which prevent nicks, cuts, and irritation, are introduced to provide young men with both flair and comfort as they take charge of their grooming style in their busy and hectic lifestyle. Availability of alternative products such as hair scissors and razor blades and rise in prices of bread trimmers are expected to hinder growth throughout the beard trimmer market forecast period.
The COVID-19 outbreak positively impacted the overall growth of the beard trimmer market in 2020. During the pandemic, people were restricted their homes and hair care centers such as salons were closed. This impelled people to choose portable and user-friendly trimmers to cut and trim their hair and beard at home. Thus, in 2020, beard trimmer market demand increased significantly.
According to the beard trimmer market analysis, the beard trimmer market is segmented into product type, end user, distribution channel and region. By product type, the market is segregated into corded and cordless. On the basis of end user, it is categorized into personal and commercial. By distribution channel, it is segregated into hypermarkets & supermarkets, specialty stores, online stores, and other stores. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Australia, New Zealand, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, the UAE, and rest of LAMEA).
On the basis of product type, the cordless segment was the highest contributor to the market, with $3,483.3 million in 2021, and is estimated to grow at a CAGR of 9.2% during the forecast period. This is majorly attributed to various benefits offered by cordless trimmers such as they are convenient and comfortable to use anywhere even without electricity, are portable to carry in bags while traveling, and are extremely lightweight compared to corded trimmers. Thus, travelers majorly prefer to buy cordless trimmers.
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By end user, the commercial segment was the significant contributor to the market, with $1,479.2 million in 2021, and is expected to grow at a CAGR of 10.3% during the forecast period. When it comes to styling beard with specific requirement, most customers prefer consulting hair care professionals for the same. These professionals are trained to recognize and use right type of beard trimmers. Hence, such factors propel the segment growth.
By distribution channel, the hypermarket & supermarket segment was a significant contributor to the market, and is estimated to reach $4,013.5 million by 2030, at a CAGR of 7.6% during the forecast period. Hypermarkets or supermarkets usually span over a large area and display a wide range of brands in one particular store. In addition, they are especially located near residential areas for convenience and easy accessibility. Therefore, people majorly prefer to buy personal grooming products from supermarkets & hypermarkets. Surge in urbanization and population density in metro cities are expected to boost demand for supermarkets & hypermarkets.
Players operating in the global beard trimmer industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. Key players profiled in the report include Andis Company, Braun, Brio Product Group, Conair Corporation, Procter & Gamble, Panasonic Corporation, Koninklijke Philips N.V., Spectrum Brands, Syska, and Wahl Clipper Corporation.
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KEY FINDINGS OF STUDY
The beard trimmer market size was valued at $5,669.6 million in 2020, and is estimated to reach $12,990.6 million by 2031, registering a CAGR of 8.8% from 2022 to 2031.
In 2021, on the basis of product type, the corded segment acquired $2,186.3 million, exhibiting 38.6% of the global market share.
In 2021, by end user, the personal segment was valued at $4,190.4 million, accounting for 73.9% of the market share.
U.S. was the most prominent market in North America in 2021, and is projected to reach $1,201.5 million by 2031, growing at a CAGR of 6.4% during the forecast period.
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