The market for hair straighteners was estimated at USD 5.51 billion in 2021 and is anticipated to expand at a CAGR of 6 from 2022 to 2027. The industry for hair styling appliances has experienced considerable growth as a result of an increase in global spending on hair grooming and styling. Major companies are continuously coming up with new products that let consumers and salon professionals create trendy looks. Over the next five years, the industry is expected to grow as people become more aware of the value of self pampering and as the world’s metropolitan population rises.
A few of the key factors anticipated to propel the worldwide hair straightener market ahead include rising personal discretionary income due to increased dual family income, rising appearance consciousness among women, and developing corporate culture.
Market Analysis
With a market value of USD 1,918.67 million in 2020 and an anticipated CAGR of 1.66 percent over the following five years, North America was identified as the region with the largest hair straightener market (2022 . 2027). The main factor driving the sector is the rise in men’s and women’s worries about their health, body image, self-care, and hygiene. The market is expected to advance because to rising fashion trends, increased consumer knowledge of the importance of a thorough hair style and maintenance routine, and the impact of social media on visually pleasing appearances.
Driving Factors
Market expansion will be facilitated by technological advancements. The increasing number of working women and the growing interest in beauty will be the two main factors driving the global hair straightener market by 2026. One of the main factors propelling market expansion is the advantages offered by personal care appliances over traditional and manual techniques, such as quick speed, efficiency, and convenience. The availability of a wide range of products for different applications during the forecast period will support the market’s growth. Furthermore, throughout the projection period, there will be significant scope for market expansion due to millennials’ desire to follow current beauty trends and the sector’s impact.
Lightweight and compact hair styling equipment has seen significant growth among customers from a variety of demographics as a result of the rising demand for hair styling tools, notably hair straighteners, in professional salons, backed by the personal use segment. The products have cutting-edge designs that provide users convenience when travelling as well as ergonomic benefits.
Hindering Factors
The potential of hair damage and overheating could also constrain the market. However, the drawbacks of hair straightening, such as split ends and hair damage from the excessive chemicals used, would only be a minor market restraint.
The biggest problem is escalating competition as a consequence of increased demand. The sales of the industry’s behemoths have been dwarfed by the proliferation of numerous new small vendors.
Market Segmentation Analysis
- Hair Straightener Market By Plate Type:
- Ceramics
- Titanium
- Tourmaline
- Other
The ceramics, titanium, tourmaline, and other plate types used in hair straighteners are separated from the market. Despite the availability of alternative product types, ceramic hair straighteners remain the most widely used straighteners amongst target customers. The name suggests that ceramic hair straighteners are built of ceramic plates. Because they heat up quickly, disperse heat evenly, and let hair to pass through the iron without snags or damage, these ceramic plates are more efficient. Infrared technology is used in ceramic irons to lock moisture inside the hair cuticle, producing shiny, attractive hair that ultimately satisfies client needs. HIS Specialist. These are only a handful of the well-known brands in this industry: Chi, Cloud Nine, and Babyliss.
- Hair Straightener Market By End-User:
- Household/Personal
- Commercial
A professional hair straightener typically costs more than twice as much as a personal hair straightener at retail. Commercial hair straighteners so made up more than half of the market for hair straighteners globally in 2020. Due to the growing beauty salon sector and ongoing product developments in the category, the sector is anticipated to maintain its leadership during the projected period
- Hair Straightener Market By Distribution Channel:
- Hypermarkets/Supermarket
- Specialty stores
- Franchise store
- Online
There are two segments of the hair straightener market: offline and online. Hypermarkets/supermarkets, showrooms, and franchisee stores are all included in the offline retail category. Both branded and private-label alternatives for hair styling products are available in these shops. These kinds of stores also introduce a number of significant promotional and marketing initiatives, including customer loyalty programmes, special offers, seasonal specials, and so on, in order to increase revenue sales.
- Hair Straightener Market-by Geography:
- North America
- Europe
- Asia-Pacific
- Latin America
The strongest hair straightener market, valued at USD 1,918.67 million in 2020, is predicted to increase at a CAGR of 1.66 percent over the following five years in North America (2022 . 2027). Men and women’s rising concerns about their health, body image, self-care, and hygiene are the industry’s main focus. The importance of a thorough hair styling and care routine will become more widely recognised, as will emerging fashion trends and the impact of social media on aesthetically attractive appearances.
Top contributor nations on the market are the UK, Germany, and France, which are all in Europe. Customers, especially women, have been more picky about their haircuts to stay up with the newest trends due to the fashion industry’s expanding influence on clothing, cosmetics, and make-up.
According to estimates, the world’s fastest-growing market is in Asia-Pacific. Boosted sales in the Asia-Pacific region, where a big percentage of the population has high incomes, will be one of the most crucial elements in scaling demand since they have increased middle-class desire. The significant presence of the fashion industry in China. The majority of the regional demand is met by South Korea and Japan. Innovation in social media marketing’s use, size, design, and implementation are just a few of the significant developments expected to enhance the market’s growth.
The popularity of non-branded and Chinese goods in Latin America, the Middle East, and Africa is primarily a result of their high price. Nonetheless. Customers are beginning to choose branded items, and developing nations are seeing a slow but steady rise in demand for goods of greater quality.
Competitive Analysis
The market has a sizable number of regional producers, making it moderately competitive.
One of the main strategies employed by multinational companies to stay one step ahead of their competitors is product innovation mixed with expansion. Some of the key players of the Flat Iron Hair Straightener Market are listed as follows:-
- Panasonic Corporation
- Philips
- Wahl Group
- Andis
- Tescom
- The Procter Gamble Company
- Dyson Ltd
- Conair Corporation
- Spectrum Brands
- Beurer GmbFI