The curling iron market is estimated to reach the US $5 billion by 2028, likely to witness a CAGR of 4.0 % during the forecast period of 2019-2028. The global curling iron market had witnessed significant growth since the last few years and is anticipated to grow rapidly in the future. The popularity of the hair styling tools and the rising demand for low-cost hair grooming products are the top drivers of this market.
Top Driver: Robust Demand for Technological Advancement in Hair Styling Products
Technological advancements in the hair styling products are fueling the growth of the curling iron market. The hairstyling industry has registers rapid advancements in the last few years, and it is gaining traction among youngsters across the globe. Due to this, more advanced products are being encouraged to produce by the manufacturers. With rising advancements, some curling iron offers 360-degree curling options, anti-oxidants, and vitamin coating, which is likely to have a positive impact on the growth of the global market. Moreover, rising social media penetration, DIY hairstyling videos, and increasing per capita income is creating new growth opportunities for the global market.
Curling Wands Segment to Make Crucial Contribution to Growth of Global Curling Iron Market
Curling wands segment is projected to witness the fastest growth during the forecast period. This segment is growing at a compound annual growth rate of 6.2%. The product has various beneficial properties that are making it popular among females across the globe. Curling wands contain different spirals, which enables the user to get several types of curls. Also, these appliances offer high-intensity and the fastest heating facility. Due to these advantages, the curling wands segments are becoming popular, contributing to the growth of the market.
On the other hand, curling tongs dominate the global market by holding a significant market share in 2019. The dominance of the segment can be attributed to the advances in heating properties with different levels of heat adjustments. The curling tongs offer long-lasting smooth and shiny owing to the non-stick coating. Supermarket segment held key market share in the global curling wand segment in 2019. The commercial application segment accounted for more than 68 percent market share in 2019, whereas the residential segment is expected to gain traction at this moment. Due to the rising demand for the cost-effective hair grooming products, this segment also shows significant growth.
Rising Investments in Curling Irons and Research to Benefit North America Market
North America dominates the global market, whereas the Asia Pacific is anticipated to show the highest growth. In terms of the region north held the largest market share, which makes it the dominant region. This is mainly due to the rising number of hairstyle professionals in the region, which results in the increasing sale of the curling irons for commercial applications. In 2019, around 50,000 professional hairstylists were employed.
The growth in the coming years can be shown by Asia pacific. The growth can be attributed to the rising adoption of fashion vlogs and the western hairstyle trends in the developing Asian countries such as India, China, and Japan.
Players to Focus on Expanding Applications in Product Portfolio
The global curling iron market is highly competitive in nature. Enterprises are highly engaged in expanding their product portfolio in order to cater the consumer’s demand.
Market players of the global curling iron market include Koninklijke Philips N.V, lunata and others.
Lunata beauty that is the one of the prominent players that operates in hair styling market, In January 2019, announced the launch of Lunata cordless under their curling wand segment. The product contains a removable clip and a 32 mm titanium barrek.
Koninklijke Philips N. V. is a multinational corporation that is headquartered in Amsterdam, it was one of the largest electronics companies in the world that is currently focusing in an area of the health technology, beauty electronics with other divisions being successfully divested. Their hair curlers add shine and the gloss to the hair hence; they never compromise over the quality of their product.
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