Published on: May 08, 2024
The hair care market is projected to increase by USD 19.7 billion, growing at a CAGR of 4.18% between 2022 and 2027. The market includes a wide range of products such as shampoo, conditioner, oil, serum, gel, and cream. These products are designed to suit different needs, including hair health, styling, and treatment. They are available from a range of sources, including supermarkets and hypermarkets, specialty stores, and online stores.
Growth in this market is being driven by increasing consumer awareness about hair health, the growing popularity of organic and natural products, and advancements in hair care technology. Forecasts indicate sustained growth over the coming years.
A major driving factor for the market growth is the influence of social media and blogging. Online retail decision-making is highly influenced by endorsement and promotion through social media platforms. Social media platforms help online retailers connect and obtain feedback from customers. Also, they act as decisive tools for creating new products, tracking brand and product reviews, and launching marketing campaigns.
Several trends are shaping the hair care market, including the growing demand for organic and natural products, the emergence of innovative ingredients like veg keratin and ginseng oil, and the popularity of multifunctional hair care products. Many consumers are seeking products that offer solutions for specific hair issues like hair loss, dryness, frizz, and damage in order to improve their hair health. As a person’s appearance is often connected to self-esteem and social connection, solving these issues is a priority for many consumers. Premium and luxury hair care brands are capitalizing on consumer demand for high-quality products with advanced formulations.
Challenges facing the hair care market include competition from alternative hair care solutions, concerns about allergic reactions and sensitivity to certain ingredients, and the impact of environmental stressors and chemical treatments on hair health. Ensuring the quality and safety of hair care products across global supply chains is also a significant challenge.
Technavio’s market research on this industry provides a detailed analysis of the market landscape, providing data on product types, regional markets, sales channels, and more.
Our hair care market segmentation covers topics such as:
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China, Japan, and India are the major revenue contributors in APAC. Some of the major factors attributed to the growth of the region include the rising disposable income and household final consumption expenditure per capita among consumers. In addition to purchasing daily necessities such as shampoo and conditioner, consumers tend to buy fashion- and style-oriented and premium products such as hair mist, dry shampoo, hair styling spray, hair serum, and hair growth products.
Technavio's hair care industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our hair care market reports include:
Learn more about the hair care industry: Explore Reports
In order to provide you with a comprehensive view of the hair care industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
1.How do I identify key trends in the hair care market?
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
2.How do I decide which segments of the hair care market to focus on?
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
3.Who are the major players in the hair care market?
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
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