Curling Iron Market: Key Research Findings
- Market revenues to grow at above 5% CAGR between 2020 and 2030
- Innovations in curling tongs have sealed their position a top selling category
- While leading brands are focusing on the expansion of ecommerce channels, supermarkets & hypermarkets still pervasive
- Soaring commercial applications will be a chief factor driving demand for curling irons
Desire for Improving At-home Styling Game Driving Sales
As enthusiastic consumers look for upping their at-home hair styling game, opportunities are growing for hair styling tool sellers. Crafting the trending hairstyles at home can be a tricky affair, as a result consumers are looking for easy-to-use and pocket-friendly tools that can help them create hairstyles as per their liking.
Future Market Insights has projected the curling irons market to surpass US$4.7 Bn in the next five years. The availability of curling irons in different sizes that offer digitally precise heat and better protection is becoming a key focus area for market players. Also the market will considerably gain from the rising demand for affordable grooming products.
Curling iron purchase is mostly driven by consumer wish for convenience. Visiting a salon each time they wish to get ready or style their way in a certain fashion can be a costly and time consuming affair.
Considering the increasing focus on fashion trends and self-grooming, consumers are likelier to invest in hair-styling tools such as curling irons.
Innovations Giving a Big Sales Push
Technological advancements, followed by the advent of innovative and digitally controlled appliances have been aiding the market’s growth since the last couple of years.
Because convenience remains one of the highly sought-after features, manufacturers are introducing added features and attachments in curling irons to help them derive multiple uses out of a single grooming tool.
Some of the brands are even focusing on automation. For instance, TWIRL 360 by T3 Micro Inc. incorporates Digital T3 SinglePass technology to offer auto-rotating functions and evenly control temperature. Innovations such as this are seen as key market drivers.
Product differentiation is considered a major strategic move by brands to gain competitive advantage. As a result, the market has been witnessing a new of new product launches since the last few months.
Barely two years ago in 2018, Dyson launched a novel hair styling product also known as Airwrap Styler. It was designed particularly to help users enjoy its multifaceted use. The tool can be used for curling, smoothening, as well as drying.
Other companies are offering multiple attachments and better regulators for effective temperature control. It is a known fact that heating tools such as curling irons can cause damage to hair. To limit the impact, many companies have been innovating advanced coating solutions to ensure minimum damage to hair but better effectiveness.
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Curling Tongs to Witness Higher Sales than Wands
Curling irons are available primarily in two types, vis-à-vis, curling tongs and curling wands. There are a few other types available as well, but these two account for the lion’s share of the revenue generated in the market. Of these, curling tongs definitely enjoy higher share.
According to FMI, the launch of advanced models with better attachments and features will aid growth in this segment. Manufacturers are also experimenting with various materials such as simple metal, ceramic, and tourmaline for heating plates that will offer better protection of hair strands.
Spurred by this, the curling tongs segment is forecast to remain dominant through the coming years. In terms of application, the commercial segment holds dominance, however, residential segment too has been exhibiting high demand for curling irons since the last few years. The rising demand for low cost curling irons will give significant impetus to growth.
Also, the market is expected to witness considerably high demand for portable appliances, best suited for carrying in luggage while travelling. Driven by prevailing trends, companies such as Conair Corporation has launched Conair MiniPRO Cordless 3/4-Inch Ceramic Curling Iron, which showcases a compact design best suited for travelling.
Market Players Focusing on Online Channels to Boost Sales
While supermarkets and hypermarkets remain dominant distribution channels, the market is slowly moving towards strengthening its online presence. Most people like shopping for appliances from physical stores to have firsthand knowledge about their features, performance, and functionality.
Until a few months ago, retails channels were thriving, they even collaborated with leading brands as the latter looked for effective measures for reaching consumers.
For instance, Geloon Electronic Technology Limited earlier had collaborated with over five brands in retail distribution channels and professional salons to boost its penetration across North America and Europe.
While developments in the sector of structured retail was touted to offer incredible opportunities for growth, lockdowns imposed due to ongoing pandemic have revealed the vulnerabilities of the sector. Companies are therefore intending to leverage their online potential instead. FMI projects the sales via online channels to considerably growth in the coming years.
Brands Look to Offer Greater Value for Money amid Pandemic Crisis
2020 has been harsh to several industries and the beauty and personal care (BPC) industry is no different. The impact of the unprecedented COVID-19 outbreak is felt as sluggish sales in the last couple of months.
There is visibly high demand for products with lower risk of contamination. Automated products too are finding themselves buyers despite current scenario, especially those that offer longevity. Products that can help consumers ration their future suppliers are likely to stand out. As a result, companies operating in the curling iron market are focusing on innovation.
They intend on providing greater value for money, which is expected to act on their favor. With regards to mitigating challenges presented in supply-chain network due to extended lockdowns, most producers are swiftly moving to ecommerce channels to resist the ongoing volatile business environment.
Leading Companies in Curling Iron Market
Curling iron market is a highly competitive one. Product differentiation is considered a key strategic move among companies to gain competitive advantage. They also demonstrate high spending on advertising and promotions. Besides investing in celebrity endorsements, these companies are seeking out prospects in the social media. They have been collaborating with national and international social media influencers to build awareness regarding their products.
FMI in its recent study has profiles some of the leading companies operating in the market. These include:
- Koninklijke Philips N.V.
- Conair Corporation
- Helen of Troy
- Spectrum Brands, Inc.
- Lunata Beauty
- Revlon, Inc.
- Andis Company
Regionally, North America currently has dominance in the global curling irons market. As of 2018, it held over 35% of the market. The region witnesses extreme influence of fashion bloggers via a plethora of social media channels. This has been positively affecting the expansion of the curling irons market in North America.
Also the region boasts considerably high presence of hair stylists which gives considerable impetus to the market. Putting this into perspective in the fact that over 45000 people in Texas being employed in the hair styling industry. The regional market is forecast to witness impressive growth in the forthcoming years.
However, in the coming years Asia Pacific is likely to showcase a higher rate of growth. The region has been showcasing rising adoption of fashion trends from the west. Evidently, styling tools such as curling irons are in high demand especially in countries such as India, China, and Bangladesh.
The regional segment also is expected to gain from the improving spending power of consumers. Their willingness to spend on technologically advanced styling tools will aid the expansion of the curling irons market in Asia Pacific.
The emplacement of North America in the product lifecycle chart represents it as a mature market. While North America and Europe are expected to remain dominant, opportunities in mature markets is expected to saturate in the coming years, compelling market players to explore opportunities across high potential markets in East Asia and South Asia.
Curling Irons Market – The Way Forward
The curling irons market is expected to witness a slew of product launches in the coming years. While the unprecedented COVID-19 crisis may have dampened growth, FMI projects the market to set on the path of recovery once the pandemic passes. Increasing focus on innovation and expanding online presence will drive the market in the coming years.
Life in the coming days is expected to get more hectic. It will not remain an option for many to get done weekly blowouts. However, most of the consumers can achieve salon-worthy hairstyles at home. Companies are expected to capitalize on this perspective to ensure sales uptick in the coming years.
Even the best-selling curling iron brands will find themselves invest in upgrading their technologies to make consumers happy. The market however is on the cusp of witnessing a unique behavioral shift in consumers. Their inclination towards sustainable products will influence leading brands to make curling irons more energy-efficient.
Spurred by these factors, the curling iron market will exhibit impressive growth between 2020 and 2030. On the downside though the availability of counterfeit and cheaper versions of products might create hindrances in the near future.
- Curling Tongs
- Curling Wands
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty Stores
- Discount Stores
- Independent Small Stores
- Multi-brand Stores
- Online Retailers
- Other Sales Channels
- North America
- Middle East and Africa
- East Asia
- South Asia
- Latin America