The Curling Irons Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Curling irons are hair styling tools that are used to create soft curls and waves in hair by heating hair strands and wrapping them around the barrel of the iron. Different types of curling irons available in the market include regular or clamp curling irons, wand curling irons, flexi-rod curling irons, magnetic curling irons, and tourmaline curling irons. Curling irons provide easy home hair styling solutions for women to create different styles without visiting salons regularly.
Market key trends:
One of the key trends driving growth of the curling irons market is rising interest of consumers in do-it-yourself (DIY) hair styling. Consumers these days prefer styling their own hair at home instead of visiting salons frequently due to better convenience and cost savings. Busy lifestyles have increased demand for easy to use hair styling products that can help consumers achieve different looks efficiently at home. Curling irons provide hassle-free solutions for creating curls, waves, and other styles suitable for various occasions. Manufacturers are focusing on developing innovative products with advanced features such as adjustable temperature settings, ceramic tourmaline coating, and floating plates for reducing heat damage to hair while styling.
Porter's Analysis
Threat of new entrants: Moderate barrier of entry due to brand loyalty from established brands. It also requires significant capital investment for manufacturing plants.
Bargaining power of buyers: Moderate bargaining power as buyers have many options to choose from different brands at different price points. Switching costs are also low.
Bargaining power of suppliers: Limited bargaining power of few key component suppliers like heating coil manufacturers as component production process is not highly complex.
Threat of new substitutes: Low threat as there are limited substitutes available for curling hair. Products like hair straighteners offer some substitute options.
Competitive rivalry: Intense competition among major brands to increase their market share. Players focus on innovations, new product offerings, marketing activities.
SWOT Analysis
Strength: Established brands have strong R&D capabilities and loyal customer base. Products offer versatility and various hair styles.
Weakness: Significant wear and tear shortens product life over time. Likelihood of burns/injuries if not handled carefully.
Opportunity: Expanding operations in emerging economies with growing focus on personal grooming. Product extensions in premium/professional range.
Threats: Strict regulations around product safety could increase compliance costs. Supply chain disruptions during pandemic affect production.
Key Takeaways
The Global Curling Irons Market Growth is expected to witness high, exhibiting CAGR of 7.3% over the forecast period, due to increasing demand for versatile hairstyling products. North America region currently dominates the market due to rise in number of professional salons and focus on modern grooming trends. The market size for 2023 is estimated at US$ 1.29 Billion.
Regional analysis The Asia Pacific region is expected to witness fastest growth in the global curling irons market during the forecast period. Growing middle class population coupled with rising disposable income in countries like China, India has increased their spending on personal grooming products. Rising number of professional hair salons and stylists is another factor driving market growth in Asia Pacific.
Key players operating in the curling irons market are Conair, Helen of Troy, Cezanne, Kizure, InfinitiPro, BaBylissPRO, Hot Tools, Remington, HSI Professional, Bio Ionic, Russell Hobbs, Xtava, Herstyler, Bed Head, John Frieda, Tresemme, Revlon, Paul Mitchell, CHI, Babyliss. Key players focus on branding, innovation and expanding their retail distribution to increase market share. They also launch specialized products catering to professional stylists and salons for higher revenue generation.
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