Hair Care Market – Overview
The global Hair care market is set to grow from USD 69,786.3 million in 2016 to USD 87,654.5 Million in 2023. This projects that the market will expand at a modest rate during the forecast period. Expanding hair and beauty industry is growing the exploitation of hair care products and is creating growth opportunities for suppliers and manufacturers of Hair care products. Market players are expanding their operations in developing countries such as China and India, as the hair care industry in these countries are witnessing a boom.
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A variety of products are available in the global haircare market. On the basis of product, the market is segmented into hair styling, shampoo, hair colorant, conditioners, and hair oil. Under the shampoo segment, the major products offered in the market are inclusive of botanical/herbal, vitamin/mineral fortified, and moisturizing/ hydrating shampoos. Shampoos have been popular in the hair care market. This can be attributed to their dual function of cosmetology and therapeutics. A variety of the shampoos available in the market performs both the cleansing of hair as well as can also be used for the treatment of conditions like dandruff. Thus, the shampoo segment held the largest market in 2016 and is estimated to reach USD 30,780.1 million by 2023 from USD 24,164.4 million in 2016.
Key players:
Unilever
L’ORÉAL
Shandong Baisheng Biotechnology
OLVEA
Oriflame Cosmetics, etc.
Industry Trends:
All the major global brands are offering the same range of hair care products resulting in a competitive market. To stand out, brands are now spending more on research and developments and are coming up with exclusive products. For instance, Davines has introduced The Wake-up Circle with masking properties common in skincare. Philip Kingsley has launched a waterproof hair screen. These innovations help in breaking clutters prevalent in the market and give the product an edge over the competitors.
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Regional Analysis:
Geographically, the global haircare market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa. Europe accounts for the largest market share in the global haircare market. The burgeoning cosmetic industries in developed economies, such as the U.K., Italy, and others have impacted the growth in this region.
The U.S. is one of the largest markets for hair care owing to the presence of many multinational companies, such as Revlon, MAC Cosmetics, Avon, and L’Oreal.
Asia Pacific is expected to grow at a rapid speed. Japan, China, and India are the major markets in this region. Among these, India is expected to register the fastest CAGR owing to the presence of a number of hair oil products.
The Middle East and Africa generate the least amount of revenue due to the presence of low-income countries in the region.
Segmentation:
The global hair care market is segmented by product, application, gender, distribution channel and end-user.
Product-wise segmentation includes hair styling, shampoo, hair colorant, conditioners, and hair oil. Shampoo generates the maximum market revenue owing to the benefits of organic and natural shampoo. Increasing air pollution has also contributed to the sale increase as shampoo helps remove the dust particles from hair. Hair colorant can witness the fastest growth speed during the forecast period due to continuous shift in fashion trends.
Based on application, the market is segmented into hair treatment and scalp treatment. Recently Novartis announced, the US Food and Drug Administration (FDA) has approved a label update for Cosentyx (secukinumab), to treat moderate to severe scalp psoriasis.
By gender, the market is segmented into male and female. The male segment has been recording a steady growth owing to a growing awareness among men regarding style statements.
Major TOC of Hair Care Market Research Report – Forecast to 2023:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Hair Care Market, by Product
7 Global Hair Care Market, by Application
8 Global Hair Care Market, by Gender
9 Global Hair Care Market, by Distribution Channel
10 Global Hair Care Market, by End User
11 Global Hair Care Market, by Region
12 Competitive Landscape
13 Company Profiles
14 MRFR Conclusion
15 Appendix
16 List of Tables
17 List of Figures
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