Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 65

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 4
Chunk 65
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 increased the sale of basic
personal grooming products such as hair trimmers, epilators, electric razors, and others. In addition, the demand for hand-held facial
and body massagers, electric cleansers also surged during the COVID-19 pandemic. In the long run, this sudden change in consumer buying
habits is likely to stay intact as people are focusing more on personal care and luxury appliances. Thus, the COVID-19 pandemic has had
a positive impact on the household beauty appliance industry and is likely to display the same trend in the near future.

The Personal Care Beauty Appliance / Hair Styling
Tool OEM Market in the PRC

The size
of personal care beauty appliance / hair styling tool OEM industry by revenue in the PRC measures the revenue generated by hair styling
tool manufacturing plants located in the PRC in the aggregate. The market size has increased from US$2,010.1 million in 2016 to US$3,310.3
billion 2021, representing a CAGR of approximately 10.5%. The increase was largely attributed to the continuous upgrading of hair styling
tool and surge in application in advanced & portable hair styling tools along with the ease and convenience.

The increase
in promotion, including advertisements of hair styling tools in different media channels and rise in awareness for personal grooming are
expected to further support the growth of hair styling tool in the near future.

  39  

Market Drivers and Trends

Advanced Product Design
and Growing Demand from Downstream End-customers. During 2016 to 2021, the market size in terms of sales value of hair
styling tool has increased at a CAGR of approximately 10.5%. The robust demand for hair styling tool is principally driven by the growing
awareness on needs and consciousness on beauty products, growing disposable income that leads to an elevated living standard and greater
consumption on consumer goods and electrical appliances, as well as the continuously advancing product specifications and designs. In
particular, the compactness and portability of hair styling tools nowadays contributes to growing momentum of demand as they are convenient
to carry along to different occasions and eliminate the need to visit a salon. Adverse impact of chemical-based hair styling process unveiled
in recent years has also contributed to customers in pursing hair styling products as a substitute product. Besides, digitalization of
hair styling product, such as the embedment of LCD screen and smartphone connectivity function has attracted wider target customers. The
burgeoning