Today people are more careful about their hair grooming than ever before and their expenditure on hair care products is on the rise. A good development for the hair straightening industry is that hair-straighteners have become an integral part of hair care toolkit in urban areas.
According to market research study conducted by Ken Research “Global Hair Straightener Industry Situation and Prospects Research report 2017”, prominent growth drivers of the hair straightening industry are: rising fashion and personal grooming awareness; influence of film stars and the glamour world on popular culture; and improving standards of living of people, especially in the developing countries. Cashing on people’s desire to be part of the glamour world, companies of the hair straightening industry advertise their products with popular faces of the film and media industry to attract consumers.
In terms of growth, the developing countries are expected to act as a catalyst for the hair straightening industry. In these countries, people are increasingly becoming more conscious about hair fashion and grooming thanks to rise in their disposable incomes. Companies understand that hair straighteners are not meant or a particular type of hair. So, they have come up with different hair straightening options with the facility to optimize according to the specific requirements of individuals.
For example, if someone with hard thick, unruly hair would require hair straighteners which can heat up to high temperature. In contrast, someone with thin hair may require a hair straightener which heats less.
Hair-straighteners are loaded with various features nowadays compared to the older versions. For example, if the goal is to attain fine thin hair, then ceramic flat irons are the go to option. But if the goal is thick coarse hair titanium, then flat irons are the perfect choice.
In the global hair straightening industry, the United States and European markets have registered strong CAGR in the past. People in these regions can afford luxury products due to their high standard of living and high disposable incomes. But in comparison to the Asia-Pacific market, the US and European markets appear saturated.
Ken Research has highlighted in its study that the Asia Pacific market has the power to fuel the hair straightening industry. The region comprises China, Japan, India, and the rest of Asia-Pacific. The reason for growth in these areas is the rising self-consciousness among the youth about their appearances. Hair styling is increasingly becoming a necessity, and many people buy hair straighteners to enhance their looks.
The Middle East and Africa (MEA) market is expected to post double digit CAGR. The MEA region, which includes UAE, South Africa, and the Rest of MEA, is expected to record a good growth in hair care products demand, particularly in rural areas thanks to rising disposable incomes and changesin the consumer’s lifestyle.
Major Market Players in the Industry: PHILIPS, BRAUN, Panasonic, Babyliss, YSC, BaByliss, CREAT ION, TESCOM, CONAIR, eisan, POVOS, FLYCO, Paiter, Remington , HSI PROFESSIONAL, Good Hair Day, L’Oreal, Cloud Nine