Hair Care Market: Consumer Demand and Fashion
Added: (Tue Apr 02 2024)
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The Hair Care Market is projected to reach $ 121.08 billion by 2030, at a CAGR of 4.1% from 2023 to 2030. Recently, the focus on hair care has increased among adults to prevent hair loss and improve hair health. Proper hair care can promote hair growth and prevent premature hair loss. Various hair care products are available in the market for better hair care. The hair care market covers shampoos, conditioners, hair oils, hair colors, hair serums, and hair styling products such as hair wax, hair sprays, and hair styling gels offered by key companies to supermarkets & hypermarkets, pharmacies, beauty salons, and online stores.
Hair care products help maintain hair quality, stimulate hair growth, and boost blood circulation. These products also help prevent infection & itching on the scalp.
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The hair care market is segmented by Product (Shampoos, Conditioners, Hair Oils, Hair Colors, Hair Serums, Hair Styling Products [Hair Wax, Hair Sprays, Hair Styling Gels, Other Hair Styling products] and Other Hair Products), Type (Organic, Synthetic), Price Category (High-end hair Products, Medium-end Hair Products, Low-end Hair Products), Distribution Channel (Supermarkets & Hypermarkets, Pharmacies, Beauty Salons, Online Stores), End User (Males, Females, Kids), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Rising Hair-related Problems to Drive the Demand for Hair Care Market
The adoption of hair care products is rising to cure or reduce the effect of common hair problems such as loss of hair, dandruff, oily/greasy hair, heat-damaged hair, and dull & dry hair, among others. Alopecia areata (hair loss) is an autoimmune disorder that causes patchy and unpredictable hair loss. According to National Alopecia Areata Foundation (U.S.), alopecia affects nearly 6.8 million people with a lifetime prevalence risk of 2.1% in the U.S. Additionally, many market players are seeking the opportunity to develop and launch products for other common hair problems such as dandruff, dry hair, oily hair, split ends, frizzy hair, dull hair, heat-damaged hair, color-damaged hair, and gray hair. For instance, in January 2021, Emmbros Overseas Pvt Ltd. (India) launched its hair care range under the brand St Botanica. This new range of hair care products is designed to re-bond and reinforce the hair surface. Additionally, in June 2022, SUPERCLUSTER PI PRIVATE LIMITED (India) launched a hair color shampoo under the brand name Absolutely Ayur for reversing grey hair.
Based on product, in 2023, the shampoos segment is expected to account for the largest share of the hair care market. Shampooing is the most usual form of cleansing hair. The availability of a variety of shampoos for different demographics, hair problems, or purchasing power is the key factor contributing to the large market share of this segment.
Based on type, in 2023, the organic segment is projected to register the highest CAGR over the forecast period. The growth of this segment is attributed to the rising demand for organic hair products due to their benefits as people are becoming more aware of environmental and health issues. Furthermore, synthetic products contain many harmful chemicals, which has shifted consumers’ inclination toward purchasing organic products.
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Based on distribution channels, in 2023, the supermarkets & hypermarkets segment is expected to account for the largest share of the hair care market. Supermarkets & hypermarkets provide significant benefits to customers while shopping for hair care products, including the availability of various products and discounted prices. People prefer purchasing hair care products from supermarkets and hypermarkets due to the freedom of selection that comes with a wide range of hair care products for various hair problems.
Based on end user, in 2023, the females segment is expected to account for the largest share of the hair care market. The availability of a number of products specifically designed to resolve hair problems in women and a high focus on hair care to improve appearance are the factors supporting the large market share of this segment.
Based on geography, Asia-Pacific is slated to record the highest CAGR during the forecast period. A large proportion of the population using hair care products, the growing middle-class population coupled with increased spending on personal care, and inclination towards the use of organic or herbal products among the consumers in Asia-Pacific are the factors supporting the large share of this market.
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Key Players
Key companies operating in the hair care market are L’Oréal S.A. (France), The Procter & Gamble Company (U.S.), Kao Corporation (Japan), Unilever PLC (U.K.), Shiseido Company, Limited (Japan), Johnson & Johnson Services, Inc. (New Jersey), Avon Products, Inc. (U.K.), Revlon Consumer Products Corporation (U.S.), Beiersdorf AG (Germany), Henkel AG & Co. KGaA (Germany), Natura &Co Holding S.A. (Brazil), Aveda Corporation (U.S.), and Oriflame Cosmetics S.A. (Switzerland).
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