Hair Care Products Market is anticipated to worth USD 116,345 million by 2025
Published Date | 2019 April 3
According to BlueWeave Consulting, the global Hair Care products market is anticipated to worth USD 116,345 million by 2025, with a CAGR of 3.39% during 2019-2025. Hair care products help to control the properties and behavior of one’s hair so that it can be maintained and styled desirably. The global market of hair care products is growing with a healthy growth rate owing to the increasing number of fashion-conscious consumers and the rise in male grooming, coupled with increasing demand for healthy, lustrous, and manageable hair.
Moreover, the expanding aging population and subsequent adoption of hair colors and dyes have also provided thrust to the market growth. Also, a surge in hair and scalp related problems among the consumers has led to several product innovations by manufacturers accommodating the prevalent and changing consumer tastes and preferences, thereby facilitating the demand for hair care products in the coming years.
Browse Detailed Analysis with TOC, “Global Hair Care Products Market, By Product Type (Shampoo, Hair Color, Conditioner, Hair Styling Products, Hair Oil, And Others) By Distribution Channel (Hypermarket, Salons, E-Commerce, Pharmacy, Specialty Store, And Others) By Region (North America, Europe, Asia Pacific, Middle East & Africa), Size And Forecasts, 2015 – 2025”
Growing urbanization coupled with increasing beauty consciousness among men is expanding the demand for grooming products such as hair gels, hair spray among the male population, which in turn is fueling the growth of the hair care products market. Besides, climate variations are another driving factor that tends to hamper the hair conditions living in a certain geographic condition, thus augmenting the demand for proper hair care products to adapt to such locations. Another key factor supporting the growth of the global haircare market includes the growing popularity of hair care treatments such as hair spa and deep nourishment. Also, a rising number of mergers and acquisitions between companies, along with the increasing focus on personal grooming and online retail for hair care products, are some of the latest trends for the global haircare market.
Shampoo Segment is expected to hold the dominant position in the global hair care products market during the anticipated period.
Among all the hair care products types, the shampoo segment held a dominant position in the hair care products market. It is expected to retain its dominance over the forecast period due to the huge availability of specialized products such as herbal shampoo, baby shampoo, anti-dandruff shampoo, gluten-free shampoo, and shampoo for color-treated hair. Furthermore, dry shampoo is gaining significant traction due to its advantages, such as increased ease and convenience over liquid shampoo, which, in turn, is driving the growth of the shampoo segment in the coming years. Additionally, creative advertising campaigns of hair care products is increasing the popularity of herbal hair care products, technology innovations in product manufacturing, rising disposable income with the increase in spreading power on hair care are some of the major key factors driving the growth for global haircare market.
Asia Pacific is expected to be the fastest-growing region in the global hair care products market during the anticipated period.
The global Haircare products market is categorized into five regions North America, Europe, Asia Pacific, and Middle East & Africa. The Asia Pacific is expected to witness high growth rates in the coming years due to an emerging economy, improvement in living standards, rising hygiene awareness and increasing hair related problems due to an unhealthy lifestyle, seasonal and climatic factors. Meanwhile, North America holds the largest haircare market share, followed by Europe, owing to the new hair care products innovations and increasing demand for natural and organic hair care products in these regions. Besides, the United States has developed in population demographics that have opted for better hair care solutions along with independent movements within communities, such as the Natural Hair Movement, which emphasizes that African descent populations retain their conventional hairstyles.
Global Hair Care Products Market: Competitive Landscape
The key players operating in the global hair care products industry include L’Oreal Group, Henkel AG & Co., Procter & Gamble Co., Unilever Corporation, Kao Corporation, Aveda Corporation (Estee Lauder), Avon Products Inc., Revlon Inc., Olaplex, and Pai Shau. Most of the key players are engaged in adopting strategies such as mergers and acquisitions, collaborations, and new product development to increase their global market share.