Innovative product offerings and a surge in the number of beauty-conscious populations around the world are driving the growth of the global hair straightener market, according to Allied Market Research.
The report notes that the global hair straightener industry generated $616.10 million in 2019, and is estimated to garner $861.10 million by 2026.
While ill-effects related to hair straighteners do hinder market growth, the trend of premiumisation creates new opportunities in the coming years. The ceramic segment is predicted to maintain its dominance during the forecast period, with the tourmaline segment expected to witness the fastest growth.
Despite this positive outlook, the market has been severely affected by COVID-19, with manufacturing factories temporarily shut due to lockdown, as well as hair salons. When lockdown lifted, distribution channels opened up and manufacturing resumed. In the meantime, consumers began utilising e-commerce platforms to order hair straightening products and devices for household purposes.
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.
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