The global hair curling irons are projected to exhibit a CAGR of 5.2% during the forecast period of 2021 to 2028.
the key players in the global hair curling irons market:Koninklijke Philips N.V. (Netherlands), Conair Corporation (US), Helen of Troy Limited (US), Spectrum Brands, Inc. (US), Lunata Beauty (US), VEGA (India), Havells India Limited (India), Revlon, Inc. (US), Dyson (UK), and Andis Company Inc. (US).
Market Highlights
The global hair curling irons market is projected to be valued at USD 6.7 billion by 2028, recording a CAGR of 5.2% during the forecast period. The global market has been largely benefiting from the increasing demand for hair styling products across the world. Growing urbanization, followed by increased per capita disposable income, has created a huge opportunity for the fashion industry wherein consumers have increased their spending on hair styling tools to enhance their appearance. The growing awareness for hair curling irons through social media and celebrity endorsements is expected to spur market growth during the forecast period. Moreover, the growth of the e-commerce sector and the inclination of manufacturers toward this mode of distribution is further expected to boost the growth of the hair curling irons market during the review period. The key players in the market have been responsive to shifting consumer preferences and are focused on strategic acquisitions, product launches, and partnerships.
Moreover, manufacturers are providing innovative, technologically advanced products for catering to the changing demands of young consumers. For instance, there is an introduction of curling irons with different features such as anti-oxidants and vitamin coatings with 360-degree curling options. This is expected to influence the growth of hair curling irons market positively. For instance,Conair Corporation offers a Curl Secret curling wand. This wand uses a tourmaline ceramic curling chamber where hair is heated from all directions. This helps in providing a perfect curly and bouncy effect. Additionally, Revlon’s Nutrifusionprovides three curling irons and one straightener. These products are infused with macadamia and moringa, which helps in providing hair conditioning with the aim of protecting the natural luster of hair. These innovations by several manufacturers in the market will drive the growth for the forecast period.
The advent of the global pandemic, COVID-19, has resulted in a global crisis. Impacting over 220 countries, the outbreak has already created an economic backdrop worldwide. As of May 2021, more than 167 million confirmed cases of COVID-19 globally, and more than 220 countries have been affected by the pandemic. The global pandemic is deemed to create a chaotic environment, resulting in global rescission. With the rapidly rising cases, the global hair curling irons market is getting affected in many ways.
Segmental Analysis
The global hair curling irons market has been segmented based on components, category,barrel size, distribution channel,and region.
Based on category, the global hair curling irons market has been divided into wired and cordless. The cordless segment is projected to gain a higher CAGR during the review period. Owing to the convenience provided by cordless hair curling irons. However, the wired segment has accounted for a larger market share in 2020, as sensors wired hair curling irons cost less than cordless hair curling irons. Thus, these types of irons are affordable to even middle-income consumer groups.
By type, barrel size, the global hair curling irons market has been segmented as ½-1 inch, 1 inch, 1½ inch, 1¼ inch, 2 inches, and others. 1 inch segment accounted for the largest market share in 2020. Hair curling irons with 1 inch barrel size are suitable for all hair lengths. It features classic curls and creates defined waves which are driving the growth of this segment.
By distribution channel, the global hair curling irons market has been segmented into store-based and non-store-based. The majority of hair curling irons are sold through store-based retailers. This segment has been further divided into supermarkets & hypermarkets, specialty stores, and others. The specialty stores segment dominated the market in 2020. However, the non-store-based segment is expected to grow faster during the review period.
Regional Analysis
Geographically, the global hair curling irons market has been categorized as North America, Europe, Asia-Pacific,South America, and the Middle East & Africa. As per CRI analysis, North America constituted a dominant share of the hair curling irons market in 2020.