The global hair care market size was worth around USD 75,892.5 million in 2021 and is estimated to grow to about USD 103459.1 mn by 2028, with a compound annual growth rate of approx 5.3 percent over forecast. Overview on statistics, australia, india, black hair analysis, trends, products stocks Analysis
The global hair care market size was worth around USD 75,892.5 million in 2021 and is estimated to grow to about USD 103459.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.3 percent over the forecast period. The report analyzes the hair care market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hair care market.
Hair care market is expected to pick up pace in demand over the forecast period owing to rising focus on personal care among the general population. Increasing awareness about ill effects of bad eating habits and the rising prevalence of unhealthy lifestyle habits have led to multiple hair problems hence the demand for hair care is expected to be high.
Increasing focus on personal care, rising per capita disposable income, and rising focus on appearance are some of the major trends that influence the hair care market demand through 2028.
However, allergic reactions to sensitive hair and sensitive scalp are expected to restrain the sales of hair care over the forecast period.
The COVID-19 pandemic led to a major downfall in the global hair care marketplace and this trend hampered the growth of multiple key players in the market. The sudden emergence of coronavirus infections led to multiple complications in the hair care market and resulted in negative growth trend.
closure of multiple sales and distribution channels under the lockdown restrictions and shortage of production and sales are some major restraints that negatively impacted hair care market growth in 2020.
The hair care market is expected to make a steady recovery in the post-pandemic era as the world returns to normal. Lifting of lockdown restrictions will open multiple sales and distribution channels and hence drive the hair care market growth over the forecast period.
Increasing Focus on Personal Care
The general population has seen a substantial increase in focus on personal care over the past few years as the importance of aesthetic appearance has become paramount. Moreover, increasing per capita disposable income of the population has also propelled the demand for multiple hair care products and these factors are primely driving the hair care market potential over the forecast period. Increasing demand for organic products is also expected to drive the hair care market potential
Sensitive Hair and Scalp to Restrain Haircare market potential
Hair care is crucial but certain chemicals used can be harmful to people with sensitive hair and scalp and this restrains the overall hair care market growth in the long run. Hair care companies are trying to develop more eco friendly products to deal with this and boost their sales revenue but this factor will be prominent through the forecast period as no proper plan is in place to combat this.
Increasing Preference for Sustainable Products
Sustainability has been a popular trend across all industry verticals and this is expected to be popular in the hair care market as well. Consumers are opting for organic and natural products as awareness about ill effects of chemicals is increasing and hence hair care companies are focusing on launching these new products to fulfill consumer demand.
The global hair care market is segregated based on product type, distribution channel, and region.
By Distribution channel, the hair care market is segmented into Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, Online Retailers, and Others. The supermarkets and hypermarkets segment will lead the hair care market growth and hold a share of more than 45% in the global hair care market landscape by the end of the forecast period. The Availability of multiple options will drive the popularity of this segment over the forecast period.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
The Europe region leads the global hair care market in terms of revenue and volume share and is anticipated to maintain this stance over the forecast period as well. The increasing availability of hair care products, rising consumer awareness for personal care, presence of key hair care companies, and increasing beauty consciousness are some of the major trends propelling the hair care market potential in this region through 2028. The nations of France, Italy, Germany, and the United Kingdom are expected to be the most prominent markets in this region.
Increasing per capita disposable income in the Asia Pacific region will also boost the demand for hair care products. India and China will be the most significant markets in this region through the forecast period.
Some of the main competitors dominating the global hair care market include - KAO Group, L’Oréal USA, Inc., The Procter & Gamble (P&G) Company, Unilever PLC, and Johnson & Johnson, Inc.
By Product Type
By a Distribution channel
In today’s glamorous world, the major portion of the global population has become beauty conscious and thus people are opting for various beauty-enhancing products available in the market. Hair care products repair and reduce hair damage, as well as protect and nourish the hair from pollution, dryness, and several other factors. Hair care products have come a long way over the years and there are a number of brands offering hair oils, hair colorants, shampoos, and other hair styling products. All these products are mainly composed of natural and synthetic ingredients. The major consumption of these products is by hair care professionals in salons, beauty parlors, and at homes by individuals.
The hair care market is projected to maintain a steady growth rate throughout the forecast period with a CAGR of 3.15% for the forecasted period. The factors that are contributing to the growth of the hair care market are continuously increasing the number of fashion conscious customers, availability and launch of many customized products as well as growing penetration of hair salon services across the globe. The growing concerns related to hair damage and hair falls is a major factor propelling the growth of the market. Growing trends in the ever-changing fashion industry such as surging demand for professional products and changing grooming patterns especially in male consumers are the factors driving the growth of the market.
The rise in customer spending on beauty and hair care products, increasing disposable income of people in developing nations, and concerns of customers related to grey hairs are some of the factors accounting for the rapid growth of hair care products in the global market. Factors restraining the growth of the hair care market are expensive product cost along with high manufacturing and marketing costs. Expansion of the organized retail business in various parts of the world and growing demand for organic and environment-friendly products are expected to offer various opportunities in the global hair care market.
Market segmentation of the global hair care market is based on the product and distribution channel. The product segment is categorized into shampoos, conditioners, hair oils, colorants, hair styling products, and others (hair loss treatments, hair accessories). The distribution channel segment is further bifurcated into direct selling, pharmacies, e-commerce, and hypermarkets & retail stores. Regional segmentation of the hair care market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation into major countries such as the U.S., UK, France, Germany, China, Japan, India, and Brazil.
The major players operating in the global hair care market are Oriflame Holding AG, L'Oreal Group, Amway, Johnson & Johnson, Unilever, Shiseido Company Ltd., Beiersdorf AG, Church & Dwight Co. Inc., NaturaCosmeticos SA, and Procter & Gamble Co., among others.
Increasing focus on personal care and rising per capita disposable income are some major trends that guide hair care market growth.
According to the Market Research report, the global hair care market size was worth about US$ 75,892.5 million in 2021 and is predicted to grow to around US$ 103459.1 million by 2028, with a compound annual growth rate (CAGR) of around 5.3 percent.
The Europe region leads the global hair care market in terms of revenue and volume share and is anticipated to maintain this stance over the forecast period as well. The increasing availability of hair care products, rising consumer awareness for personal care
Some of USA, Inc., The Procter & Gamble (P&G) Company, Unilever PLC, and Johnson & Johnson, Inc.the main competitors dominating the global hair care market include -- KAO Group, L’Oréal