Dublin, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The "Global Haircare Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global haircare market was valued at US$84.512 billion in 2020. Haircare products are used to groom hair and get an aesthetic hairstyle while managing various hair problems such as hair fall, dandruff, frizzy hair, split ends, and dry or itchy scalp. The growing middle-class population and increasing urbanization are the major factors that are boosting the demand for hair care products.
With rising awareness about personal hygiene and a focus on aesthetic appeal, consumers are increasingly opting for different hair care products. The rising level of air pollution and the increasing temperature is also harming the quality of hair, which is also encouraging people to use hair care products so as to protect them from the harmful impact of these environmental factors.
People nowadays are more concerned about hair aesthetics, which has also led to a rise in the number of consumers opting for hairstyle chemical treatments, including dyeing and straightening. Since chemically-treated hair requires premium hair care products to maintain the health and texture of hair, the demand for premium hair care products is increasing significantly, thereby fuelling the overall haircare market growth.
The rising use of social media is also encouraging consumers to explore various global haircare brands, thereby spurring the global haircare market's growth. Continuous expansion of distribution channels such as online stores, speciality stores, and salons are also contributing to the global market growth of haircare as this has made many professional hair care products easily accessible to consumers.
People are becoming more aware of the harmful impacts of several chemicals on the quality of their hair and scalp, which is driving the demand for hair care products with natural and organic ingredients. This is providing a great opportunity for market players to add haircare products made with naturally-derived ingredients into their portfolio and create a mass customer base.
Market players are adopting various growth strategies, including product launches, partnerships and collaborations, expansion of distribution channels, and acquisitions, in order to maintain their market share or/and further expand their customer base, thus bolstering the global haircare market's growth throughout the forecast period.
The global haircare market has been segmented on the basis of product, application, end-user, sales channel, and geography. By product, the global haircare market has been segmented as shampoo and conditioner, hair colour, hair oil, hair masks, and others. By application, the market has been segmented as household and professional. The market has further been segmented by end-user as men and women. The global haircare market has also been segmented by sales channels such as online and offline.
The boom in the e-commerce industry is leading to the growth of the online segment
As per the sales channel, the online segment will witness a higher CAGR during the forecast period. With the growing working female population makes it convenient and time-saving to shop via online stores is boosting the growth of this segment. Furthermore, online stores allow customers to purchase international hair care products easily and at discounted rates as well. As such, many haircare manufacturers have started their own web portals for selling various hair care products.
During the forecast period, Asia-Pacific will experience a notable CAGR.
Geographically, the global haircare market has been segmented into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The Asia Pacific regional market for hair care is poised to grow at a substantial CAGR during the forecast period.
Rising awareness about various hair care products in countries like China, India, and Australia, coupled with the presence of major market players in the region, is boosting the demand for hair care products across APAC countries. Increasing disposable incomes and living standards are also augmenting the demand for premium hair care products. The booming e-commerce industry is also supporting the rising sales of international hair care products, thus positively impacting the regional market growth. North America and Europe also hold significant market shares owing to the high demand for professional hair care services in these regions.
COVID-19 Impact
The Covid-19 Pandemic has negatively impacted the overall market growth due to the lockdown restrictions imposed by the government of various nations. The lockdown has forced the retail and salon stores to shut down completely which leads to weakening sales of various beauty and personal care products in the global market. For example- Beiersdorf AG, has published an article in which it has reported a decline in sales across the entire group by 1.9% during the second quarter of 2020 because of the pandemic. However, the market is growing since 2021 as lockdown restrictions were lifted and the key players are launching innovative products in the market.
Competitive Insights
Prominent key market players in the global haircare market include Unilever, Henkel AG & Co. KGaA, Procter & Gamble, Kao Corporation, L'OREAL GROUP, VEDA CORP., Amway, Johnson & Johnson Services, Inc., Marico, and Shiseido Co., Ltd.
These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global haircare market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments by different market players over the last two years.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis
5. Global Haircare Market Analysis, By Product
5.1. Introduction
5.2. Shampoo and Conditioner
5.3. Hair Color
5.4. Hair Oil
5.5. Hair Mask
5.6. Others
6. Global Haircare Market Analysis, By Application
6.1. Introduction
6.2. Household
6.3. Professional
7. Global Haircare Market Analysis, By End User
7.1. Introduction
7.2. Men
7.3. Women
8. Global Haircare Market Analysis, By Sales Channel
8.1. Introduction
8.2. Online
8.3. Offline
9. Global Haircare Market Analysis, By Geography
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.1. Unilever
11.2. Henkel AG & Co. KGaA
11.3. Procter & Gamble
11.4. Kao Corporation
11.5. L'OREAL GROUP
11.6. VEDA CORP.
11.7. Amway India Enterprises Pvt. Ltd.
11.8. Johnson & Johnson Services, Inc.
11.9. Marico
11.10. Shiseido Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/go98xk
