Hair Straightener Market to Reach $861.10 Mn, Globally, by 2026 at 4.9% CAGR: Allied Market Research

PORTLAND, Ore., Oct. 28, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Hair Straightener Market by Plate Type (Ceramic, titanium, tourmaline and others), by end use (household and commercial) and Distribution Channel (online and offline): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global hair straightener industry generated $616.10 million in 2019, and is estimated to garner $861.10 million by 2026, witnessing a CAGR of 4.9% from 2019 to 2026.

Prime determinants of growth

Innovative product offerings and surge in number of beauty-conscious population drive the growth of the global hair straightener market. However, ill-effects related to hair straighteners hinder the market growth. On the other hand, the trend of premiumization creates new opportunities in the coming years.

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Covid-19 Scenario

• Owing to lockdown measures implemented by governments of many countries, manufacturing factories have been shut down. Moreover, the supply chain disruption has affected the manufacturing activities.
• Hair salons and beauty parlors have been closed down as governments have enforced strict regulations to curb the spread. Due to closure of salons and parlors, the demand for hair straighteners has been reduced significantly.
• As lockdown has been lifted off, salons, parlors, and distribution channels such as specialty stores, supermarkets, and hypermarkets have begun their operations. Moreover, manufacturing activities have resumed.
• As e-commerce platforms have begun delivery of goods, many consumers have begun ordering hair straighteners for household purposes to avoid possibility of cross-contamination in salons and parlors.

The ceramic segment to maintain its dominance during the forecast period

Based on product type, the ceramic segment accounted for the highest market share in 2019, contributing nearly three-fifths of the global hair straightener market, and is estimated to maintain its dominance in terms of revenue during the forecast period. This is due tohigh efficiency provided by this type and its characteristic to shine hair without snags or damage.However, the tourmaline segment is estimated to witness the fastest CAGR of 7.2% from 2019 to 2026, owing toits characteristic of straightening hair with less heat and increase in preference by customers.

The household segment to maintain its lead by 2026

Based on end use, the household segment held the largest market share, accounting for more than half of the total share of the global hair straightener market in 2019, and will maintain its lead by 2026. This is attributed to ease in availability throughdistribution channels such as hypermarket, franchisee stores, supermarket, and specialty stores. However, the commercial segment is estimated to grow at the highest CAGR of 5.5% from 2019 to 2026, owing to surge in spending on looks, inclination toward following trends, and expertise provided by professionals.

Europe, followed by North America, to maintain its dominant share by 2026

Based on region, Europe, followed by North America, accounted for the largest market share with nearly one-third of the global hair straightener market in 2019, and is projected to maintain its dominant share throughout the forecast period. This is due toincrease in influence of the fashion industryand rise in number of commercial salon establishments. However, Asia-Pacific is projected to manifest the highest CAGR of 6.3% from 2019 to 2026. This is attributed toinnovation and product development activities to cater to needs of customers, celebrity brandings, and increase in internet penetration.

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Leading market players

• Koninklijke Philips N.V.
• Panasonic
• Spectrum Brands, Inc.
• Conair Group Ltd.
• Cortex USA Inc.
• Bio Ionic
• Helen of Troy limited
• IZUTECH
• Turbo Ion, Inc.
• Carmen

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