Hair Care Market to Grow at a CAGR of 4.03% During the Forecast Period

 Increasing consumer awareness of latest hair care products and a growing preference for organic and herbal items is expected to drive the growth of the global hair care market.

According to TechSci Research report, “Hair Care Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”. The global hair care market is expected to reach USD54.09 billion by 2027F at a CAGR of 4.03% during the forecast period. Hair care sales are expected to increase during the forecast period due to hair and scalp disorders becoming more prevalent in the population, driving the global hair care industry. Moreover, increasing demand for herbal hair care products is boosting the market growth. Furthermore, an increase in disposable income is likely to support market expansion in the following years. However, shampoo bars and DIY colorant kits are two primary hair care products that are more trending in the global hair care market. Increasing hair and scalp problems, clever hair care product advertising campaigns, the growing popularity of herbal hair care products, technology innovations in product manufacturing, rising disposable income, and increased hair care spending are some key factors driving the global hair care market's growth. Furthermore, attractive packaging and increased consumer knowledge of hair care, and a move toward hair care and styling products is driving the hair care market forward. On the other hand, high costs and economic slowdowns are some of the primary factors limiting the growth of the global hair care market.

The increasing popularity of hair care treatments such as hair spas and deep nutrition along with the number of product launches that have been seen in the worldwide hair care industry, is contributing to the growing demand for this market. In addition, the global hair care market is seeing an increase in the number of mergers and acquisitions and an increased focus on personal grooming and online retail for hair care products. For instance, BELLAMI Hair ("BELLAMI"), a premium brand driving innovation in the hair extensions and hair care categories, has been purchased by Beauty Industry Group ("BIG"), an industry leader in hair solutions. BIG will assist BELLAMI in advancing its differentiated go-to-market strategy and expanding its strong consumer base to capitalize on its existing success.

The hair care market can be segregated into shampoo, colorant, conditioner, hair oil, hair gel & wax, and others in terms of type. Out of these, the shampoo market had registered the highest market share of more than 28% among all the hair care products in 2021, followed by colorant. In term of distribution channel, the market is segmented into supermarket/hypermarket, grocery/department stores, specialty stores, salon/parlor, online, and others. Supermarket/hypermarket has registered the highest share in terms of value, whereas online distribution channel came out as the most fastest growing channel in 2021.

For much of the hair care industry, the leading companies have started using sustainable sources to develop their products. Procter & Gamble Co. introduced its 100% reusable aluminum bottle and refilling bag across all hair care brands in October 2020. The refill pouch is produced with 60% less plastic and is 100% recyclable. The new packaging technique is part of P&G's goal of reducing virgin petroleum plastic usage by half by 2030.

Browse over 17 market data Figures spread through 70 Pages and an in-depth TOC on "Global Hair Care Market"

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The global hair care market is segmented into Asia-Pacific, Europe, North America, South America, and the Middle East & Africa in terms of the regional analysis. The Asia-Pacific region dominated the global hair care market, followed by North America in 2021. Hair cares are in high demand in countries with large populations, such as China, Japan, and India. Changing consumer preferences toward natural and user-friendly products have fueled the growth of the Asia-Pacific hair care market over the years. In 2021, North America became the world's second-largest market for hair care. An increase in hair care demand in North America can be attributed to an increasing population base, shifting consumer preference for hair colorants, and increased usage of hair styling products.

Key market players in the global hair care market include:

• Shiseido Company, Limited
• Johnson & Johnson Services, Inc.
• Unilever
• Amway
• Oriflame Cosmetics AG
• Procter & Gamble Co.
• L'Oreal SA
• Revlon Inc.
• Kao Corporation
• Beiersdorf AG

P&G and Mannings went to great lengths to nurture Hair Recipe from its infancy in Hong Kong to its current status as a consumer-trusted haircare brand. From strong in-store support to endorsements by beauty influencers, the collaboration helped the brand build a strong consumer and shopper base.

P&G Hong Kong offers Wanomi, the latest premium line extension at Mannings in Hong Kong, following the success of Hair Recipe. Wanomi is Hair Recipe's first-ever treatment series, utilizing high-quality Japanese rice to nourish the scalp and deliver a dazzling change in just 14 days.

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“Hair and scalp problems are on the rise, as are extensive marketing campaigns for hair care products. The growing popularity of herbal hair care products, technological advancements in product manufacture, rising disposable income, and increased spending on hair care are the key factors driving the growth of the global hair care market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

 

“Hair Care Market- Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027. Segmented By Type (Shampoo, Colorant, Conditioner, Hair Oil, Hair Gel & Wax and Others (Hair Spray, Masks, Serum etc.)), By Distribution Channel (Hypermarket/Supermarket, Grocery/Department Stores, Specialty Stores, Online, Salon/Parlor and Others (Institutional/Direct Sales, etc.)), By Region”, has evaluated the future growth potential of hair care in global market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the global hair care market.

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