Global Haircare Market Overview and Size
The global market for hair care size was estimated to be worth USD 75,892.5 million in 2021, and to grow to about USD 103459.1 mn by 2028. it is predicted to rise at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028. The huge surge in demand for hair care products might be attributed to the growing consciousness among people regarding the importance of personal hygiene and grooming. The hair can be cleaned, conditioned, colored, and styled with the use of various hair care products. There are many different kinds of hair care products available on the market today. Some examples of these products are hair oils, hair styling gels, mousses, serums, shampoos, and conditioners.
One of the most important aspects that is driving the market is the ever-increasing desire for natural and organic hair care products. The market for hair care products is being driven by a rise in the population’s consumption of hair care products, which in turn has been caused by an increase in the population’s disposable incomes as well as changes in the lifestyles of the population. In addition to this, the expanding availability of a wide variety of products through a variety of sales channels, including as grocery shops, department stores, beauty salons, and online stores, is anticipated to enhance the growth of the market.
A significant aspect that has been driving the industry is the millennial generation’s increasingly strong predilection for hair styling products. This generation is becoming more concerned with personal grooming and is receptive to experimenting with various kinds of hair care products, including hair oils, styling gels, and other such items.
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Competitive Landscape and Company Market Share Analysis
Some of the main competitors dominating the global hair care market include –
- KAO Group
- L’Oréal USA
- The Procter & Gamble (P&G) Company
- Unilever PLC
- Johnson & Johnson, Inc.
Global Haircare Market Growth Factors
1. Increase in demand for natural and organic hair care products: Consumers are increasingly looking for natural and organic products that are free from harsh chemicals and provide health benefits. This is driving the growth of the hair care market.
2. Rising disposable incomes: Rising disposable incomes, especially in developing countries, have enabled consumers to purchase premium hair care products. This is driving the growth of the hair care market.
3. Growing awareness about hair care: Growing awareness about the importance of hair care is leading to increased spending on hair care products. This is driving the growth of the hair care market.
4. Changing lifestyles: Changing lifestyles and increased spending on beauty and personal grooming are driving the growth of the hair care market.
5. Growing trend for home-based hair care: Consumers are increasingly opting for home-based hair care services, such as hair coloring, styling, and more. This is driving the growth of the hair care market.
6. Growing demand for hair care products in emerging markets: Emerging markets are witnessing a growing demand for hair care products. This is driving the growth of the hair care market.
Hair Care Market Opportunities
1. Natural Hair Care: With the growing trend of natural products, hair care products made from natural ingredients are becoming increasingly popular. Natural ingredients used in hair care products include essential oils, herbs, and other natural extracts that can nourish and strengthen the hair.
2. Hair Growth Products: With an increasing number of people suffering from hair loss, there is a growing demand for hair growth products. These products include shampoos, conditioners, and other treatments designed to stimulate hair growth.
3. Hair Styling Products: Styling products are becoming increasingly popular, as more people are looking to change their look and style their hair. These products include styling gels, hairsprays, mousses, and other styling products.
4. Professional Hair Care Products: Professional hair care products are becoming more popular as people are looking for quality hair care products for their salons or barber shop. These products include specialized shampoos, conditioners, styling products, and other hair care treatments.
5. Organic Hair Care Products: Organic hair care products are becoming increasingly popular as people look for natural and cruelty-free products. Organic hair care products are made from natural ingredients and do not contain any harsh chemicals or toxins.
Hair Care Market Segmentation
The global hair care market is segmented as follows:
By Product Type
- Hair Color
- Hair Styling Products
By a Distribution channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Retailers
By Regional Analysis
- North America ( United States)
- Europe ( Germany, France, UK)
- Asia-Pacific ( China, Japan, India)
- Latin America ( Brazil)
- The Middle East & Africa
FREQUENTLY ASKED QUESTIONS
- Which key factors will influence hair care market growth over 2022-2028?
- What will be the value of the hair care market during 2022-2028?
- Which region will contribute notably towards the hair care market value?
- Which are the major players leveraging the hair care market growth?