The global hair care market is growing continually, with a large number of products available. Besides, increasing consumer spending on hair nourishment and personal care products increases the size of the market. The rising prevalence of hair & scalp related complexities such as dandruff, dryness, split hair, etc. create huge market demand. Moreover, the widely spreading awareness for hair care escalates the market growth to furthered height.
According to Market Research Future (MRFR), the valuation of the global hair care market is estimated to grow at 3.40% CAGR during the review period (2017 – 2023). Additionally, the expanding hair and beauty industry and strong investments in product development substantiate the growth of the market. Rising sales of hair nourishment products worldwide define the growing landscape of the market.
The report is segmented into four dynamics;
By Product : Hair Styling, Shampoo, Hair Colorant, Conditioners, Hair Oil, and others.
By Application : Hair Treatment, Scalp Treatment, and others.
By Distribution Channel : Hypermarkets, E-Commerce, Pharmacies, and others.
By Regions : Americas, Europe, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Europe dominates the hair care distribution. The region accounted for about 34.5% of the overall market share in 2017. The largest market share attributes to the presence of notable industry players and a large consumer base. Countries like the UK and Italy, with their growing cosmetic industries, hold significant shares in the regional market. Also, rising spending on wellness products in the region boosts the growth of the regional market.
North America is a thriving market for hair care products due to the availability of high-quality personal care ingredient suppliers. The US is the largest exporter of hair care products among other countries such as Mexico and Brazil. Besides, the country’s hair care industry witnesses significant R&D investments for the development of innovative hair beauty care products, which is projected to accelerate the growth of the regional market.
Highly competitive, the hair care market appears fragmented with the presence of many notable players. Industry players encouraged by continually changing consumer preferences & demands, launch innovative product ideas such as thick & long, dandruff special, ayurvedic, medicinal, herbal, and so many. Manufacturers are ever ready to invest time, efforts, and money in R & D required for further formulation. They also try to expand their business/ global footprints through strategic partnership/ collaboration, mergers & acquisitions, and others.
Players leading the global hair care market include L’ORÉAL, Unilever, Shandong Baisheng Biotechnology Co., Ltd, Oriflame Cosmetics AG, OLVEA Group, REVLON Inc, Henkel Corporations (Schwarzkopf Professional), Shiseido Company, Limited, Kao Corporation, Johnson & Johnson Services, Inc., Amway, and Procter & Gamble Co., among others.
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