Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 62

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 4
Chunk 62
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 augment the products’ demand in the future. With the advancements in technologies, personal
care beauty appliances have become extremely handy and offer different features such as better battery life, digital displays, multi-tasking,
anti-bacterial and others. Furthermore, the overall cost of these products has decreased due to reduced cost of manufacturing and surged
demand from middle-income households.

The global hair styling tool market
is expected to continuously increase at a CAGR of 3.7% to reach US39.0 billion in 2026.

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Market Drivers

Fashion Trend. Evolving fashion trends, growing fashion consciousness, growing emphasis of people on self-maintenance and appearance and changes
in consumer preferences have influenced the market and driven the demand for household beauty appliances extensively within the past few
years. Millennials are the prime focus consumers of household beauty appliances. Use of hair styling appliances has been higher among
females. However, with the rising trend of self-grooming and personal hygiene, the use of these appliances has been increasing among men
population as well. The growing number of men spending on hair styling appliances, increasing the use of electric hair care devices such
as hair straighteners, hair dryers, and other appliances continue to influence the growth of the segment globally. The segment is expected
to continue to dominate the household beauty appliances market throughout the forecast period.

Continued
Innovation in Hair Styling Products. The rapid technological advancements in electronics, reduction in the size of equipment,
and ease of manufacturing have helped the industry to a great extent. Increased innovations in the tools used for hair styling with the
opinions of salon expert and also individuals push the manufactures to develop new products and thus boosts the growth of the market.
Hair straighteners create beach waves effectively and effortlessly with just a simple bend of the wrist. High quality ceramics plates
have heat balance micro sensors that regulate the temperature and evenly distributes heat. Such products have multifunction features that
attract customers, thus increasing the demand for hair styling tools in the market. Further, advancements in battery technologies helped
in reducing the size of the equipment and increased the portability feature. This resulted in better marketing opportunities for the companies
as people could carry them without any hassle during traveling.

Economic Consideration. Previously, the expenditure on personal grooming was relatively high, as people had to visit professional salons and beauticians for
hairstyling, facials, massages, and others. This was mainly owing to the high cost of grooming equipment that needed expertise for effective