The flat iron hair straightener market has grown tremendously since 2017. According to a Market Data Forecast report, the hair straightener market was valued at USD 6.32 billion in 2022 and is expected to grow at a CAGR of 8% during the forecast period 2023-2028. This information is crucial in highlighting the emerging market trends and investment opportunities for beauty supply owners.
North America was recorded as the largest hair straightener market. The market is predicted to evolve over the next five years as individuals become more conscious of the importance of personal grooming as the global population grows. Other reasons for this market growth include expanding family dual income, increasing appearance consciousness, rising personal income and growing corporate culture.
As a beauty supply owner it is imperative to stay on top of current trends and here are five reasons why:
- You gain a deeper understanding of the current state of the beauty market and can identify the pros and cons.
- Being informed allows you to know what your customers want and helps you to stay ahead of the curve and offer the latest products to your customers.
- Stay abreast of what is new and trending by reading consumer and beauty industry magazines such as OTC, the internet, websites, follow influencers and beauty ambassadors, attend conferences and trade shows. You can also analyze and research Google trends.
- To develop a clear picture of the competitive landscape, observe your competition and see what new products or services they are launching.
- Join industry associations and participate in online communities. This allows you to network with a variety of individuals and develop meaningful relationships.
The flat iron market will continue to grow and evolve as the product has become a household staple.