Global hair care products market was valued at US$ 81.65 billion in 2016 and is expected to reach US$ 129.18 billion by 2025, witnessing a CAGR of 5.33% over the forecast period (2017–2025), according to Hair Care Products Market Report, by Product Type (Shampoo, Conditioner, Serum, Colorants, Sprays, Oil, Gels, and Others) and by Distribution Channel (Online, Supermarkets, Hypermarkets, Specialty Store, Convenience Stores, and Others).
Hair care products, including shampoos, oils, and gels are gaining traction, as it helps enhance the health, shine, texture, softness, color, and overall aesthetics of hair. Furthermore, growing hair problems such as dandruff, hair loss, and split ends is fuelling growth of the hair care products market. Increasing number of players are focusing on providing innovative products is further fuelling growth of the hair care products market. For instance, in January 2017, TYME LLC launched a hair care line series, including shampoo, conditioner, and hairspray, which do not contain parabens and sulfate. However, stringent government regulations such as Regulation (EC) No 1223/2009, which regulates manufacturing, labelling and ingredients used in the hair dye products are hindering growth of the hair care products market. In February 2016, Bigen Permanent Powder Hair Color and Blasol Powder Permanent Hair Coloring Formula were recalled in Europe due to the presence of banned toxic substance sodium perborate in them. Furthermore, synthetic chemicals in hair care products are associated with side effects such as irritation to skin and scalp, which in turn is expected to restrain growth of the global hair care products market.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 772 pages, 300 market data tables* and 90 figures* on "Hair Care Products Market” - Global forecast to 2025.
Key Trends and Analysis of the Hair Care Products Market:
- Among product type, the shampoo segment accounted for the highest market share in 2016, owing to its widespread application for cleaning and removing dirt and greasy residue from hair. Shampoos also have several secondary functions such as controlling dandruff and reducing irritation.
- Among distribution channel, the specialty stores segment is the fastest-growing segment in the hair care products market. Rising disposable income among the populace, in turn is increasing their inclination towards purchasing premium products, which are widely available in specialty stores. This in turn is increasing the growth of the segment. According to the International Trade Association (ITA), premium hair products manufactured in the U.S. are among the fastest growing segment in the beauty and personal care segment. In January 2018, Sephora SA announced its plan to open 50 new stores in India by 2020. Such expansion projects by major players operating in hair care products market are propelling growth of the specialty stores segment.
Key Takeaways of the Market:
- According to study, Asia Pacific accounted for the highest market share of 43.45% in 2016. This is attributed to the growing beauty and personal care industry in this region. According to the Indian Beauty and Hygiene Association (IBHA), beauty and personal care sector in India is estimated to reach US$ 10 billion by 2021 from US$ 8 billion in 2016. Several manufacturers are increasingly focused on launching natural hair care products to cater the growing demand for herbal products. For instance, Dabur India Ltd. launched hair oil containing blend of ayurvedic herbs such as henna and amla among others under Vatika brand.
- Europe holds lucrative demand for hair care products due to increasing awareness of health and beauty among consumers. According to Cosmetics Europe, the personal care association, a trade association of cosmetics and personal care industry in Europe, 44% of the consumers in Europe consider hair care products an essential part of their daily life.
- North America is expected to gain significant traction for hair care products, with the U.S. being the major growth engine. Growing demand for premium personal care products is fuelling the launch of new premium products in this region. For instance, L’Oreal S.A. launched premium natural hair care brand Botanicals Fresh Care, in March 2017.
Key players operating in the global hair care products market include Unilever plc, Procter Gamble Co., L’Oreal S.A., Avon Products Inc., Revlon Inc., Aveda Corporation, Amka Products (Pty) Ltd., Johnson & Johnson Pvt. Ltd., Combe Incorporated, and Henkel Corporation.