New York, US, Oct. 21, 2022 (GLOBE NEWSWIRE) -- Hair Care Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Hair Care Market Information by Product, Application, Distribution Channel, and Region - Forecast till 2030”, the market is estimated to acquire a size of over USD 71 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 5.4% during the review timeframe.
Market Synopsis
Haircare products help men and women keep their hair clean and healthy while safeguarding it from harm. Several products are available for varied applications, depending on hair type. Due to consumers' increased purchasing power and growing disposable income, shampoos for dry and greasy hair, treatments for damaged scalp and hair repair, and cleansers for colored and curly hair are all readily available. The expansion of the international market is attributed to the popularity of different styling products, increased consumer understanding of the best products for hair care, and attractive package design.
Hair care products assist both sexes in maintaining their hair's cleanliness and health while shielding it from harm. The hair nutrition products, such as shampoo, serum, conditioner, oil, and others, come in various shapes like liquid, gel, creme, and lotion. According to the hair type, the market offers several products for various applications. This covers several shampoos for colored hair and curly hair, as well as shampoos for dry and greasy hair, damaged scalp, and hair repair.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 71 Billion |
| CAGR | 5.4% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Application, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing Cosmetic Expenditures Facilitates The Market To Grow |
| Increasing Prevalence Of Diseases Such As Alopecia Areata, Scalp Psoriasis, And Others Is Increasing |
Hair Care Market Competitive Landscape:
The significant players in the hair care market are:
- L'ORÉAL
- Oriflame Cosmetics AG
- Henkel Corporations
- Shiseido Company Limited
- Amway
- Kao Corporation
- Procter & Gamble Co.
- Unilever
- OLVEA Group
- Shandong Baisheng Biotechnology Co. Ltd
- REVLON Inc
- Johnson & Johnson Services Inc.
Market U.S.P. Covered:
Market Drivers:
It is anticipated that the growing trend of young people having colored hair will raise costs for dyes and colors, particularly among women. In addition, men's adoption of different hairstyles and the growing trend of having long hair have increased the demand for hair styling products. During the projected period, this is anticipated to aid in the growth of the worldwide hair care market. Male hair problems such as hair graying, dandruff, and hair loss are becoming more common, which is anticipated to increase the demand for hair care products. Additionally, as older people are more likely to experience hair difficulties than younger people, the demand for the items is projected to increase. Due to rising consumer knowledge of the harmful effects of chemicals on human health and the environment, consumer preference is turning toward organic and herbal products. Major market players who have been steadily concentrating on creating and releasing new items to satisfy various consumer demands depending on geography, society, and ethnicity have been crucial in expanding the worldwide sector.
Market Restraints:
Due to the expensive nature of hair care products, the worldwide market may hinder the hair care market share. A hindrance to the market is the rising number of persons with sensitive hair who develop allergic reactions to cleansers, serums, shampoos, and other products because of hazardous chemicals.
Browse In-depth Market Research Report (115 Pages) on Hair Care: https://www.marketresearchfuture.com/reports/hair-care-market-6020
COVID 19 Analysis
The COVID-19 epidemic has impacted the beauty and personal care business, including skincare, cosmetics, hair products, and personal care. Numerous retail and convenience store cutbacks have weakened sales of numerous hair and scalp care products on the global market. The COVID-19 dilemma has significantly impacted the beauty industry, including skincare, hair care, cosmetics products, personal care, perfumes, and more. Due to the closing of salon stores and retailer stores, the sales of other beauty and personal care items have decreased. Additionally, although some salons had open counters, consumers preferred not to use the salon services because they were afraid of making personal contact with others. As a result, many customers have started using the popular DIY beauty care. However, a new transformation in the global industry has been brought about by developing DIY hair coloring. Additionally, the government's precautionary measures that delay and reduce the shipment of goods also affect the company's sales.
Hair Care Market Segmentation
By distribution channel, the market includes hypermarkets, e-commerce, and pharmacies. By product, the market includes hair styling, conditioners, hair oil, shampoo, and hair colorant. By application, the market includes hair treatment and scalp treatment.
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Regional Insights
The European regional market for hair care is thought to be the most lucrative. Due to the presence of established nations like the United Kingdom and Italy, this regional market is expected to perform well. Additionally, Europeans are following trends that highlight their attractiveness in terms of nutrition and hair. As a result, numerous well-known enterprises have established themselves in the area, fueling demand for various hair care products. Additionally, due to their busy schedules and stressful lifestyles, Europeans are experiencing hair loss and dandruff, driving up the market during the study period.
Due to the considerable spending on personal care products, particularly those focused on hair, North America is believed to have a major presence in the market. Additionally, as women are prepared to spend more on hair care products, it is projected that the rising rate of female employment will increase demand. A significant market share is anticipated for the Asia Pacific. The countries in this region suffer from severe air pollution, necessitating frequent hair washing. In addition, the region's rapidly expanding spa industry will probably help the hair care product catch on. The rapidly expanding metropolitan population in South America is thought to significantly impact the market, increasing the number of people who place a high value on their hair care maintenance.
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