Dubai, UAE, Aug. 09, 2023 (GLOBE NEWSWIRE) -- As per the latest report released by Kings Research, the global Professional Hair Care Market size was recorded at USD 32.46 billion in 2022 and is estimated to grow to USD 49.69 billion by 2030, exhibiting a CAGR of 5.58% during the forecast period of 2023-2030. The market is increasingly offering a wide variety of ingredients and products to address different hair and scalp types. An increasing number of people are adopting digital technology, and internet usage is at an all-time high. As a result, there is an increase in the demand for hair care products bought through e-commerce platforms, which is not only convenient but also offer various benefits, including free home delivery, gift coupons, bulk order discounts, and time-saving advantages.
Specific shampoos, hair conditioners, and waxes are some of the numerous products that professional hair care offers to improve hair quality and protect the scalp from damage. The kit also includes high-end products including hair gel, hair colorants, straightening and perming treatments, etc. The market for professional hair care is anticipated to expand due to factors such as rising consumer expenditure on personal care products, increasing disposable incomes of consumers in emerging economies, and surging demand for hair salon services globally.
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Competitive Landscape
Prominent companies in the global professional hair care market have strategically prioritized product launches as their key approach to securing a substantial share of the global industry. For instance, in October 2022, Henkel introduced the world's first B2B2C hyper-personalized professional hair care brand, aiming to expand its global reach.
Leading players competing in the market include
- Procter & Gamble
- Unilever
- Kao Corporation.
- Avon Products
- Revlon
- Shiseido Company, Limited
- Pai-Shau
- NNNOW
- Johnson & Johnson Private Limited
- Godrej.com
Trending Now: Unilever Establishes Salon for Deeper Insights into Black Hair Care
A test center modeled around a hair salon was built by Unilever in 2023. At this facility, hair specialists and stylists work together to develop cutting-edge hair care products for Black women. The Polycultural Centre for Excellence is a cutting-edge facility that unites many viewpoints and experiences to solve Black women's particular difficulties in caring for and styling their hair. Unilever takes 50 males and females into the salon lab each week to test new products. The company will be able to enter a niche market for Black hair care due to its expertise and the superior performance of the products after extensive testing.
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Global Professional Hair Care Market Segmentations:
By Distribution Channel
- Traditional
- Professional
Growing Consumer Preference for Traditional Distribution Channels to Foster Sales
The traditional segment dominated the professional hair care market in 2022 and is likely to retain its dominance throughout the projection period, recording a valuation of USD 32,008.5 million by 2030. The traditional distribution channel can be classified into segments, such as hypermarkets/supermarkets, specialty stores, drug stores, pharmacies, and online/e-commerce platforms. When it comes to professional hair care services, providers often depend on intermediaries to expand their reach across several regions and make their products available through third-party channels such as malls, hair spas, hypermarkets, and various retail outlets.
However, there has been a recent trend in the business to use direct sales channels to bolster brand awareness and encourage customer involvement. Instead of depending on traditional indirect sales channels, this strategy sells and distributes hair care products and services directly to customers.
By Component
- Products
- Services
Surging Use of Hair Care Products Driven by Common Hair Problems Faced by Individuals
The product segment held the largest share of the global professional hair care market in 2022 and is anticipated to grow significantly with a valuation of USD 31,788.1 million by 2030. Consumers show a willingness to spend their money on hair care products that provide effectiveness and enhance hair quality. The key components of basic hair care cover three main categories: shampoos, conditioners, and hair oils, all infused with potent ingredients.
In recent times, people commonly face various hair problems, such as dandruff, frizzy hair, itchy scalps, dull and damaged hair, hair fall, hair loss, and greasy hair. To address these hair care challenges, customers are ready to spend on hair care products, leading to the expected growth of this segment.
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Escalating Demand for Hair Care Products Among Men to Propel Market Expansion
The market for professional hair care is expanding due to a rise in the demand for hair care products among males. The hair care industry has always mainly catered to women, but as times change, men are becoming more aware of their hair and seeking solutions that cater particularly to their requirements. Several factors, including the increasing popularity of well-groomed appearances, emerging hair fashion trends, and increased awareness of hair care products due to social media advertising, have contributed to this spike in product consumption.
A prominent opportunity for companies to enter this burgeoning marketplace is also presented by the rise of male-specific product offers. The hair care business can benefit from the growing trend of male grooming and self-care and maintain its upward trajectory of market growth.
Increasing Disposable Income to Complement APAC's Dominance
The Asia Pacific region emerged as the largest market for professional hair care in 2022 and is anticipated to dominate the market in the near future with a valuation of USD 22,858.3 million by 2030. Several factors, such as surging disposable incomes, population growth, changing hair fashion trends, and rising air pollution levels, are foreseen to support regional market growth.
Additionally, the growing popularity of professional hair care products in emerging nations and the broad acceptance of organic components are likely to present potential opportunities for manufacturers of shampoo and hair coloring products to grow their customer base.
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Key Points from TOC:
1 Introduction of The Global Professional Hair Care Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 Executive Summary
3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
4 Global Professional Hair Care Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
5 Impact of Russia-Ukraine War
6 Global Professional Hair Care Market, By Distribution Channel
7 Global Professional Hair Care Market, By Component
8 Global Professional Hair Care Market, By Services
9 Global Professional Hair Care Market, By Products
10 Global Professional Hair Care Market, By Traditional
11 Global Professional Hair Care Market, By Professional
12 Global Professional Hair Care Market, By Geography
13 North America
15 Asia-Pacific
16 Middle East & Africa
17 Latin America
18 Global Professional Hair Care Market Competitive Landscape
19 Company Profiles
Browse Complete TOC: https://www.kingsresearch.com/toc/professional-hair-care-market-15
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