“Rivalry between the
two lions to capture the biggest market share for personal care appliances in
India: Philips vs Panasonic” Bonafide Research
The two giants are fighting neck-to-neck to
gain the bigger pie of the personal care appliances market, where currently
Philips is having lower average selling price as its weapon; whereas Panasonic
is giving it tough competition by the way of new and innovative variants.
The never-ending obsession
among the youth to look young and beautiful is impacting the demand for
personal care appliances and this demand is expected to boost up in the future.
These days, customers are very particular about their health and looks, and
this is the reason behind the constant increase in the demand for these
appliances. There are several appliances related to personal care that has
acquired a position in the daily routine life of a person like hair dryers,
hair Straightener, hair curlers, trimmers, shavers, electric toothbrushes, etc.
that are gaining popularity worldwide.
According the report on 'India Personal Care Appliances Market
Outlook, 2023' published by Bonafide Research, India overall market for
personal care appliances has grown with a CAGR of more than 16% in value terms
during review period starting from 2011-12 to 2016-17. Rapid innovations in the power-assisted technology have endorsed leading
manufacturers to develop differentiated products, which results new products or
variant, and pricing. The market leader for this
market (as a single company) in India is the Dutch multinational company
Philips, followed by the Japanese company- Panasonic Corporation; which is
followed by the Indian company- Havells. Other players include Braun, Conair,
Wahl, Veet, Eveready, etc. which are giving tough competition to top players.
Philips and Panasonic,
both have a wide presence in the country. But Philips is a more trusted brand
than Panasonic as Philips entered India in 1930 when it started selling lamps
imported from abroad. Subsequently, it used to sell radio, audio tape cassettes
and eventually television. This way, the company has become a household name by
selling new and innovative consumer durable products backed by the latest
technology and bearing the renowned Philips stamp of quality. Whereas the
Japanese company Panasonic started its operations in India in 1972, which has a
strong workforce of 250,000 people world over, is a leader in technological
innovations and product development capabilities, has a broad product portfolio
encompassing a wide spectrum of consumer electronics.
Customer loyalty is high
for consumer electronics made by Phillips. Indian customers are very price and
value sensitive. Panasonic offers 13 personal care appliances like hair dryer,
hair styler, hair Straightener, eyelash curler, epilator, facial hair remover,
nail care, etc. for female grooming while for male grooming, it offers shavers
and trimmers. Moreover, it offers electric brush and oral irrigators for oral
care. In case of Philips, it offers Epilator, Shaver, trimmers, hair Straightener
and hair dryers for female grooming and for male grooming it has shavers, trimmers
and body trimmers. In addition to this, the company also offers electric brush
and toothbrush head in the oral care appliances head.
Report
Link: https://www.bonafideresearch.com/product/180610371/India-Personal-Care-Appliance-Market-Outlook-2023
Major companies that operate into the
Personal Care Appliances market in India Philips India Limited, Panasonic India
Pvt. Ltd, Nova Marketing Private Limited, Tri-Star Products Private Limited
(Vega), Havells India Ltd, Syska Led Lights Private Ltd, Bajaj Electricals Ltd,
Gillette India Ltd, Wahl India Grooming Products Pvt. Ltd, Braun GmbH
(P&G), Conair Corporation.
Report: India Personal Care Appliances Market
Outlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast
Year: 2022-23
Pages: 123, Figures: 29, Tables: 24
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