DIY haircut kits market players must now concentrate on partnerships and M&A, aiming at enhanced R&D to tap remunerative opportunities post the crisis.
DUBAI, UAE / ACCESSWIRE / May 5, 2020 / Stay-at-home orders, and social distancing norms are contributing to the sales of DIY haircut kits amid the global COVID-19 pandemic. Rising predilection of consumers' towards style quotient, and fashion trends are favoring the growth of DIY haircut kits market. The market surpassed a US$ 6 Bn milestone in 2019 revenues, concludes a new Future Market Insights (FMI) report. DIY haircut kits are gaining widespread popularity amid increasing focus on men's self-care and personal grooming. Top players in personal care industry are exploring the lucrative possibilities in customization and DIY trends, according to the report. According to FMI's analysis, the global DIY haircut kits market is projected to exhibit just about 2% CAGR over the forecast period (2020-2030).
"Improved battery life and new product launches by major manufacturers will support market growth through 2030," says the FMI analyst.
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Key Takeaways of DIY Haircut Kits Market Study
- Sales of clipper & trimmer kits will experience a boom on the back of soaring demand from consumers through 2030.
- Battery-driven and portable cordless clipper & trimmer kits are in greater demand compared to conventional kits driven by direct power source.
- Sales of scissors are gaining momentum in view of prolific demand from skilled professionals thereby generating substantial revenue.
- Salons/professionals remain prominent end users of DIY haircut kits.
- East Asia holds the majority share in the global DIY haircut kits market.
DIY Haircut Kits Market - Key Growth Factors
- Enhanced safety features, and convenient operation are key attributes boosting the sales of DIY haircut kits.
- Greater economic wealth of consumers will drive the market growth through the forecast period.
- Ecommerce trend is pushing the growth of DIY haircut kits market thereby boosting the online sales where lockdown restrictions are eased.
- Heightening demand for high/premium range DIY haircut kits will propel the market growth through 2030.
DIY Haircut Kits Market - Key Restraints
- Offline sales of DIY haircut kits will continue to suffer amid stringent lockdown protocols imposed by governments with supermarkets selling only essential goods. However, the market is projected to recover by 2020 end.
- Lack of skill on the part of consumers can lead to bad results which restricts the wider adoption of DIY haircut kits.
Impact of COVID-19 on DIY Haircut Kits Market
With most countries either in complete or partial lockdown due to COVID-19, multi-brand stores, supermarkets, hypermarkets, and hair saloons have been shut down as well. Consequently, DIY haircut kits witnessed a downfall in offline and online sales during first half of 2020. On the other hand, China, the original epicenter of COVID-19, is on the recovery path. This has caused an upheaval in demand for DIY haircut kits as delivery of non-essential products have resumed. Hence, online sales in China continue to gain traction. However, in countries such as India where the delivery of non-essential items is still restricted, the sales of DIY haircut kits remain limited, both online and offline.
Explore the full DIY haircut kits market report with 81 illustrative figures, 80 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-11285
Competitive Landscape of DIY Haircut Kits Market
Some of the major companies profiled in this FMI report include, but are not limited to, Oster Professional, FLYCO, Sunbeam Products, Inc., Procter & Gamble (Braun GmbH), Havells India Ltd., Zed Lifestyle Pvt. Ltd., Panasonic Corporation, Wahl Clipper Corporation, Beardo, Koninklijke Philips N.V., Conair Corporation, Spectrum Brands, Inc., Andis Company, Xiaomi, and Riwa. Various partnership activities and innovation are being prioritized by players in DIY haircut kits market. For instance, Beardo and Flipkart partnered in 2019 where they reached a deal which allowed Beardo's electric trimmer and grooming kit to be sold on Flipkart. On the other hand, The Wahl Clipper Corporation introduces a new cordless detailer in the market equipped with T-fast blade in July, 2019.
More about the Report
This Future Market Insights study of 250 pages provides all-inclusive insights on the global DIY haircut kits market. The market analysis is based on product type (clipper & trimmer kit, scissors set), end user (salon/professional, personal/home-care), price range (high/premium, mid-range/economy), sales channel (modern trade, departmental stores, specialty stores, franchise outlet, online stores) across six regions (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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