Eastern Asia: Electric Hair Dryer Market 2024

Electric Hair Dryer Market Size in Eastern Asia

In 2021, the East Asian electric hair dryer market decreased by -21.9% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, showed a strong expansion. Over the period under review, the market hit record highs at $X in 2020, and then contracted significantly in the following year.

Electric Hair Dryer Production in Eastern Asia

In value terms, electric hair dryer production contracted modestly to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +85.9% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 39%. Over the period under review, production attained the maximum level at $X in 2020, and then declined modestly in the following year.

Electric Hair Dryer Exports

Exports in Eastern Asia

Electric hair dryer exports surged to X units in 2021, jumping by 18% against 2020. Over the period under review, exports showed a tangible expansion. The pace of growth appeared the most rapid in 2018 with an increase of 243% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, electric hair dryer exports skyrocketed to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.3% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) represented the major exporter of electric hair dryers in Eastern Asia, creating 98% of total export.

China was also the fastest-growing in terms of the electric hair dryers exports, with a CAGR of +5.1% from 2012 to 2021. While the share of China (+7.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest electric hair dryer supplier in Eastern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +10.8%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, with an increase of 15% against the previous year. Over the period under review, the export price recorded a tangible increase. The most prominent rate of growth was recorded in 2016 an increase of 127% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +5.4% per year.

Electric Hair Dryer Imports

Imports in Eastern Asia

In 2021, purchases abroad of electric hair dryers decreased by -64.3% to X units, falling for the second year in a row after four years of growth. Overall, imports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of 35%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, electric hair dryer imports stood at $X in 2021. In general, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 47% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Japan was the main importer of electric hair dryers in Eastern Asia, with the volume of imports reaching X units, which was approx. 43% of total imports in 2021. South Korea (X units) held the second position in the ranking, followed by Hong Kong SAR (X units), Taiwan (Chinese) (X units) and China (X units). All these countries together took approx. 55% share of total imports. Macao SAR (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to electric hair dryer imports into Japan stood at -3.7%. At the same time, China (+152.9%), Macao SAR (+29.2%), South Korea (+6.4%) and Taiwan (Chinese) (+2.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +152.9% from 2012-2021. By contrast, Hong Kong SAR (-10.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea, China, Taiwan (Chinese) and Macao SAR increased by +10, +8.4, +3.7 and +1.8 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported electric hair dryers in Eastern Asia, comprising 51% of total imports. The second position in the ranking was taken by Japan ($X), with a 24% share of total imports. It was followed by Hong Kong SAR, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +202.4%. In the other countries, the average annual rates were as follows: Japan (+3.2% per year) and Hong Kong SAR (+3.7% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, picking up by 190% against the previous year. In general, the import price recorded a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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