Hair Care Products Market is expected to rise at a CAGR of 3.40% during the forecast period
Hair care is about treatment and prevention of hair problems. A new report on the Global Hair Care Market, published by Market Research Future (MRFR), sums up that this market could win gains at 3.40% CAGR between 2018 and 2023.
The foremost market
driving factor for the global hair care market growth is the availability of a
wide spectrum of products, increasing cosmetic expenditures, and the rising
prevalence of hair related diseases. The major market players are continuously
endeavoring to pursue innovations and product development to attract a larger
customer base. Other factors that can boost market growth include pollution
causing hair damage, demand for hair care remedies, and inclination of
consumers towards natural hair care remedies. However, the increased
susceptibility to ailments like asthma and cancer by the use of hair care
products can restrict market growth. The formulation of many hair care products
is inclusive of various chemicals such as diethanolamine, peroxide, sodium
lauryl sulfate, and others. These ingredients can cause diseases. Hence, the
demand for Ayurvedic hair treatment is increasing. The Ayurvedic hair oil and
Ayurvedic shampoos can expand market growth.
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Details @
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Market Segmentation
The global hair care
market segmentation encompasses application, distribution channel, end-user,
gender, and product. MRFR’s take on the market explores various facets of the
market in-depth.
The application-based
segmentation of this market covers hair treatment and scalp treatment. Based on
the distribution channel, the market has been segmented into e-commerce,
hypermarkets, and pharmacies.
In the context of
end-user, the market has been segmented into home care and salons. Regarding
gender, the market has been segmented into male and female. As per the
product-based segmentation, the market covers conditioners, hair colorant, hair
oil, hair styling, and shampoo.
Regional Segmentation
A geographical
outlining of the global hair care market covers Europe, Asia Pacific, The
Americas (North America & South America), and the Middle East & Africa
(MEA).
With 34.5% share of
the global market, Europe is the largest regional market due to the presence of
developed economies like Italy and the UK. France and Germany are two other
strong economies in this region. Growing cosmetic industries in Europe are also
boosting the market growth. Due to technological advancement, Western Europe is
a bigger market compared to Eastern Europe.
The Americas region is
the second-largest regional market due to increasing disposable income,
availability of advanced hair treatment facilities, technological advancement,
and presence of key market players. USA, Canada, and Mexico are top economies
in this region that can be biggest country-specific markets in this region.
Argentina and Brazil also stand a strong chance.
Expected to grow
at 3.81% CAGR, the Asia Pacific region can emerge as the fastest
growing regional market due to the presence of fast-developing economies in
this region that include Australia, China, and India. The Fast-Moving Consumer
Good (FMCG) sector of India is strong, and hence, it is expected to catapult
the hair
care market during the forecast period. The changing lifestyle and
rising disposable income can enhance market growth. Japan and South Korea are
two other important country-specific markets in this region. An analysis of the
remaining countries in the Asia Pacific region featured in this report
estimates the huge contribution to market revenue from some other countries.
The MEA region holds the least amount of market share as most countries have
low income.
Key Players
Big players in the
global hair care market include Amway, Groupe OLVEA (France), Henkel
Corporations (Schwarzkopf Professional) (Germany), Johnson & Johnson
Services Inc. (USA), Kao Corporation (Japan), L'OrƩal (France), Oriflame
Cosmetics AG (Switzerland), Procter & Gamble Co. (USA), Revlon Inc. (USA),
Shandong Baisheng Biotechnology Co. Ltd. (China), Shiseido Company Limited
(Japan), and Unilever (UK).
Latest Industry News
- It’s a 10, the American professional haircare brand for salons and
hairdressers is planning to expand outside USA for the first time. It has
appointed Eulogy, an independent communications agency to support its UK
launch. 21 AUG 2019
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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