The rise in disposable income has allowed people to spend on hair care and hairbrushes, more so than before. The consumer confidence and per capita disposable income will keep on rising as the unemployment rate continues to decline, offering consumers more discretionary income for hair care and hairbrushes.
The Hairbrush Market is also expected to be driven by the increase in the number of salons. Rise in the number of working women along with continuing interest in personal appearance is expected to increase the demand for salons. Growing demand for anti-aging treatments along with increasing spending on lifestyle needs are some of the factors furthering this trend. Increasing awareness of grooming among men combined with availability of globally trusted product brands are a few other factors leading to the increase in the number of salons.
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The presence of a large number of local manufacturers may restrain market growth over the next seven years. A considerable number of consumers are unaware of the benefits of using the right product, and purchase these items through the unorganized sector. This impacts profitability of key manufacturers, since local products are readily available at lower costs.
Further key findings from the study suggest:
Hairbrushes are available in various designs serving different functions such as cushion, paddle, round, vented, and wet. They are primarily used by individuals and professionals for hair styling. Professional hair brush has high growth but has low penetration. Improvement in macroeconomic condition will lead to increase in number of salons and may also drive salon revenue, which is expected to drive professional brushes demand.
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Regional demographic trends are expected to majorly impact the overall revenue growth. The number of households in china has increased from 160 million in 2002 to 260 million in 2012, and around 70% of these households represent the middle class population. The number of UK manufacturers expanding and entering the Chinese market is growing leading to the rapid economic growth and urbanization. Due to the presence of wide number of products available from other countries is contributing to the increase in the spending power of the population in the country.
Key players in the hairbrush market include AirMotion Pro, Conair, Braun, Babyliss, Crave Naturals, Denman, Hershesons, Kent, Mason Pearson, Tangle Teezer and Wet Brush. Distribution being a critical component for success, Conair collaborated with Capgemini to be Global Data Synchronization (GDS) complaint. The GDS technology is electronic synchronization of price, product, trading party data, which acts as a common platform for the global supply chain. GDS facilitates collaboration between manufacturers and retailers through the adoption of global trading standards. In March 2014, Denman announced the acquisition of U.S. based Bobby Company to add to its market share in the professional hairdressing sector.
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