Curling Irons is Estimated to Witness High Growth Owing to Opportunity to Penetrate Emerging Markets

Curling irons or hair curlers help in giving curls or waves to straight hair. They usually have a long barrel that heats up to high temperatures and helps set the hair into loose curls or tight ringlets depending on its size. Their advantages include ease of use, versatility in creating different hairstyles, and long-lasting curls. There is increasing demand for curling irons among consumers owing to growing interest in hairstyling. The global curling irons market is estimated to be valued at US$ 1.2 billion in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The curling irons market has significant opportunity to penetrate emerging economies in Asia Pacific and Latin America. Only a fraction of the population in developing countries currently uses curling irons and related hair styling products due to lower per capita incomes. However, rising living standards, expanding middle class, and growing awareness about advanced hairstyling techniques are pushing the demand in these regions. If companies focus on affordable and versatile product offerings, it can unlock tremendous opportunity in the emerging markets over the coming years. This will allow the market to achieve higher growth rates compared to saturated developed markets of North America and Europe.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as the curling iron market is dominated by well-established players. Significant capital is required to build brand awareness and distribution channels.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitute products. Buyers can also choose different hair styling tools based on their budget and needs.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many raw material suppliers. However, suppliers of specialized components may have some bargaining power.

Threat of new substitutes: The threat of substitutes is high from other hair styling tools such as straighteners, hair dryers, etc. Buyers can switch to alternative products based on changing trends.

Competitive rivalry: The competitive rivalry is high among key players such as Conair, Helen of Troy, Revlon, Remington, and BaBylissPro. Players compete on the basis of product features, pricing, branding, and marketing.

SWOT Analysis

Strengths: Curling irons are inexpensive and easy-to-use hair styling tools. They allow creating curls, waves and flicks quickly. Many brands offer advanced ceramic and tourmaline coated barrels for reduced damage.

Weaknesses: Curling irons require skills to use and create uniform curls. They can be time consuming for styling long and thick hair. Prolonged usage may cause heat damage to hair over time.

Opportunities: Growing popularity of DIY hair styling trends and salon-like curls & waves at home presents an opportunity. Advanced styling tools with even heat distribution, quick heat up and safety features will witness higher demand.

Threats: Rising preference for natural hairstyles and air-drying poses challenges. Strict regulations regarding product safety and increasing environment awareness are major threats.

Key Takeaways

The Global Curling Irons Market Size is expected to witness high growth over the forecast period of 2024 to 2031 supported by growing product innovations.

North America currently dominates the curling irons market owing to high beauty standards and rising spending on personal grooming in the region.

Key players operating in the curling irons market are Conair, Helen of Troy, Revlon, and BaBylissPro.

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https://www.trendingwebwire.com/curling-irons-market-size-share-growth-outlook-2023/

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