Market Overview
The cosmetic industries are highly growing due to lifestyle and fashion changes. Concern for maintaining healthy hair is raising the demand in the Hair Care Products Market.
The growing interest in natural ingredients is a key driver of the market. This is letting the industrial players and companies launch products with natural ingredients. Organic hair care product like serums and oils, conditioners and shampoos, and styling is in greater demand, among other products. The change in fashion trends and awareness of new, effective, and safer hair care products significantly drive the market’s growth.
Organic and natural hair care products for personal grooming are a major market driver. Organic hair care products like conditioners, anti-dandruff organic hair oils and shampoo are contributing to the growth of the Hair Care Products Market.
Other factors responsible for the market’s growth are environmental pollution, global warming, and others causing hair damage, accelerating the demand for hair care products. The products with extra care features and protection from damages are driving the market globally.
During the pandemic, the market faced a downfall in the growth graph. But it is back into the recovery process in the post-pandemic period. The Hair Care Products Market is projected to reach a CAGR of 2 % and a strong market valuation of USD 1.15 billion in the forecast period by 2027.
Market Segments
The Hair Care Products Market is segregated into product types and applications.
The product type section of the market is divided into shampoo, hair oil, hair conditioner, and hair gel.
The distribution channel of the market is fragmented into store-based and non-store based. The store-based segment is sub-divided into supermarkets and hypermarkets, convenience stores, and others.
Regional Analysis
According to the global geographical report, the Hair Care Products Market is distributed in major countries of North America, Latin America, Asia Pacific, Europe and the Middle East and Africa.
North America is showing the highest revenue due to its higher demand for hair care products in the region. The Asia-Pacific region is showing rapid growth as a global leader.
China is the emerging market for hair care products after the United States. In the Asia-Pacific, China is capturing the maximum market share, and it will hold the position in the forecast period. The rising demand for hair care products in the Asia-Pacific to become one of the greatest markets for hair care products in the future years. The premium hair care products enhance with increased penetration in China’s regions. The growth of the middle class is propelling towards the consumption of consumer products. The growing internet penetration is driving the e-commerce companies and attracting more which is driving the sales of the market in the forecast period.
Competitive Analysis
The market is estimated to be driven by positive aspects of the global demand in the forecast period. The companies are estimated to favor the long-term developments in the coming period to ensure the longevity and sustainability of their businesses. The present COVID-19 crisis has encouraged companies to oversee a complete appraisal of business portfolios and make long-overdue operative changes. The broadening geographical reach of several companies globally is estimated to propel the market's development in the upcoming period. The financing related to innovations is estimated to take precedence in the business goals set by the various players in the market. The incorporation of pioneering technologies and work processes is likely to spur the global market in the impending period. Companies are also adopting an asset-light model to navigate market conditions. The utilization of a dynamic ecosystem business model is estimated further to improve the chances for developments in the forecast period.
The renowned companies in the Key hair care product market Players are Henkel Corporations (Schwarzkopf Professional) (Germany), Revlon Inc. (USA), Johnson Johnson Services Inc. (USA), L'Oréal (France), Oriflame Cosmetics AG (Switzerland), Procter Gamble Co. (USA), Amway, Groupe OLVEA (France), Shandong Baisheng Biotechnology Co. Ltd. (China), Kao Corporation (Japan), Shiseido Company Limited (Japan), and Unilever (UK).
Industry News
In May 2022, Beauty retailer Nykaa and ELCA Cosmetics Private Limited, an India affiliate of global beauty company Estee Lauder Companies, have teamed up to launch AvedaX Nykaa-branded premium unisex hair care salons in India. In India, Aveda’s range of hair care and body care products has been retailing since 2018 on Nykaa’s online platform and distributed through ELCA, which retails various brands of Estée Lauder.
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