San Francisco, Nov. 18, 2015 (GLOBE NEWSWIRE) -- U.S hairbrush market is estimated to exceed USD 1.2 billion by 2022, as per a new research report by Radiant Insights, Inc. Rising population along with ascending disposable income is expected to drive industry demand. Significant rise in disposable income is likely to facilitate higher spend on hair care products. Improving unemployment ratio is also anticipated to boost consumer confidence and per capita disposable income. Increasing demand for anti-aging treatments as well as increasing spending on lifestyle needs is estimated to fuel industry growth.
U.S Hairbrush Market was valued at USD 10.3 million in 2014 and is anticipated to grow at a CAGR of 6.3% from 2015 to 2022. The spur in the industry can be attributed to increasing number of salons in the region. Significant rise in number of working women coupled with growing interest in personal appearance is likely to elevate the industry. Proliferating grooming consciousness among men paired with availability of reliable products might propel the demand. According to GCI magazine, total takings from the salon industry encapsulating hair, nail and skin services grew at a rate of 2.7% in 2013.
Low awareness levels regarding the right product along with quick availability of local products at low price might hamper the industry demand over the forecast period. In addition, increasing adoption of technologically advanced hair brushes is likely to pose as challenge to market growth. Personal application hairbrush market is forecasted to possess high penetration rates owing to increasing adoption among consumers. In addition, professional applications are expected to witness significant growth opportunities due to rising demand for grooming services.
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Key report insights suggest:
- U.S. hairbrush market was valued at USD 1.2 billion in 2014 and it is projected to reach USD 1.3 billion by 2022, growing at an estimated CAGR of 0.02% from 2015 to 2022.
- Personal application was valued at USD 1.2 billion in 2014. It is estimated to account for 99% of the overall industry share by 2022 and is expected to continue dominating the regional market through the forecast period on account of high adoption rate among consumers.
- U.S. hairbrush industry is quite consolidated with top two industry players having significant presence. Conair captured 46% of the overall industry share in 2014. Denman also holds a significant industry share due to large variety of styling and general brushes offered.
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U.S. Hairbrush Application Overview (Revenue, USD Million, 2012 - 2022)
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Source: Radiant Insights