New York, Oct. 21, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Hair Care Market’ for the forecast period, i.e. 2023 – 2033 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Hair Care Market Size:
The global hair care market is estimated to grow at a CAGR of ~6% over the forecast period. The growth of the market can be attributed to growing hair care concerns among the population. The major concern of people regarding hair is dandruff, hair fall, and more. According to estimated dandruff is expected to affect approximately 40% of the population. Dandruff is a very common condition. However, if the dandruff is severing it might also result into hair fall. Hence the demand for hair care is growing.
Hair fall could also cause by various factors including hereditary, hormonal changes, normal parts of aging, and more. A total of approximately 70 million Americans experience hair loss. By the time they reach the age of 35, two-thirds of males would already lose some or all of their hair. However, it also affects about 50% of women in America. Hence this factor is expected to boost the growth of the market. Additionally, scalp psoriasis is another important factor to boost market growth.
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Global Hair Care Market: Key Takeaways
- Asia Pacific to hold the largest share
- Anti-Dandruff segment to propel the highest grow
- Europe to experience a significant presence
Growing Geriatric Population to Boost Market Growth
There has been a growing geriatric population which is further expected to boost the demand for hair care. According to the World Health Organization, the number of persons in the globe who are 60 years or older would double by 2050. (2.1 billion). Between 2020 and 2050, the number of people 80 or older is projected to treble, reaching 426 million. The growing age is the major factor for growing concern for healthcare.
Almost everyone experiences hair loss as they age. Additionally, hair development slows down. Less pigment and smaller hair strands develop with time. Thus, young adult hair begins as thick, coarse hair and later develops into thin, fine, light-colored hair. Also, chronic illness could be another important problem expected to affect the hair. For instance, female pattern hair loss (FPHL) affected approximately 30% of women by the age of 50 in the year 2020. Likewise, male pattern baldness (MPHL) may occur in about 40% of males over 50.
Global Hair Care Market: Regional Overview
The global hair care market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
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Growing Air Pollution to Drive the Growth of the Market in Asia Pacific Region
The hair care market in the Asia Pacific region is anticipated to garner the highest revenue by the end of 2033. The growth of the market in this region can be attributed to growing air pollution in this region. In the Asia and Pacific region, 92% of the population, or 4 billion people, live in areas with air pollution levels that pose a serious threat to their health. 2019's top 10 countries with the highest population-weighted average exposure to PM included four Asian nations. The risks increase with increased exposure to hair pollution. According to research, the symptoms of particulate matter from greenhouse gases, which are most frequently linked to hair loss and balding, include dandruff, itching, discomfort in the hair follicles, irritation of the scalp, and greasy scalps.
Increase in Beauty-Conscious Population to Favour Growth in Europe Region
The market in the Europe region is estimated to have a significant place over the forecast period, baked by a growing beauty-conscious population. The people in Europe region are more conscious regarding their look. Hence this factor is leading a boost in demand for more hairdressing and beauty salon. According to an estimate, in 2018 there were approximately 300000 hairdressing salon in Europe region. Additionally, in the European Union (EU), 1.7 million adults over the age of 15 were employed as hairdressers and estheticians in 2019, accounting for 0.9% of all employment.
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The study further incorporates Y-O-Y growth, demand & supply, and forecast future opportunities in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Hair Care Market, Segmentation by Concern
- Anti-Dandruff
- Hair Loss
- Dry & Itchy Scalp
- Dry & Dull Hair
- While & Grey Hair
- Others
The anti-dandruff segment is expected to hold the largest share by the end of 2033, backed by growing concern for dandruff all around the world. A common ailment called dandruff can make the scalp swollen and itchy. White flakes may be spread across the hair as a result of this. Even though dandruff is not dangerous in terms of health, it can be unsightly. As per the estimation, the disorder of the scalp affects about two in every five people.
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Global Hair Care Market, Segmentation by Product Type
- Shampoo
- Conditioner
- Hair Oils
- Serum
- Hair Colorants
- Others
The shampoo segment is anticipated to garner the highest revenue by the end of 2033. The growth of the segment is attributed to a large number of people purchasing shampoo. According to statistic, approximately 300 Million Americans used shampoo in 2020. The shampoo contains a variety of hair-enriching ingredients such as vitamins, botanical extracts, minerals, oils, and other ingredients that encourage the growth of hair from the scalp follicles. Hence they play an essential role in hair care.
Global Hair Care Market, Segmentation by Distribution Channel
- Hypermarket & Supermarket
- Pharmacy & Drug Stores
- Specialty Stores
- Online
- Others
Few of the well-known market leaders in the global hair care market that are profiled by Kenneth Research are L’Oréal S.A, Beiersdorf AG, Procter & Gamble, Unilever, Johnson & Johnson Services, Inc., AMOREPACIFIC US, INC., The Estée Lauder Companies, Kanebo Cosmetics Inc., Himalaya Global Holdings Ltd., Shiseido Company, Limited, and other key market players.
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Recent Development in Global Hair Care Market
- In January 3, 2022, using the most up-to-date technology and exact formulae, L'Oréal S.A. launched Coloright and Colorsonic, two of its breakthroughs. Consumers' concerns regarding at-home hair colouring can be allayed by Colorsonic, a portable, lightweight instrument that guarantees mess-free colour mixing and uniformly applied hair colour. Contrarily, Coloright aims to help salon stylists produce personalised and on-demand colours utilising a hair colour system connected to AI.
- In May 30, 2022, Unilever disclosed that it had a contract in place with Nutrafol to buy the bulk of the company's stock in the maker of hair wellness products. Prior to now, Unilever Ventures owned a minority 13.2% share in Nutrafol, a product that addresses a number of core reasons that affect the health of hair, such as lifestyle, hormones, stress, age, metabolism, and nutrition.
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