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DUBLIN--(BUSINESS WIRE)--Nov 1, 2022--
The "Global Hair Care Market By Type, By Distribution Channel By Region, Competition, Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The global hair care market is expected to reach USD54.09 billion by 2027, growing at a CAGR of 4.03% during the forecast period
Hairstylists as well as consumers use haircare products in salons and at home alike. Shampoo, conditioner, hair style gels, colorants, serums, glazes, hair spray, hair growth products, and hair accessories are just a few of the many varieties of hair care products available in the market, depending on the type of hair and its demands among consumers. Moreover, modern hair care products such as hair mask, hair bb creams, etc. are able to address issues such as split ends, rough, weak, dull, and dehydrated hair.
Haircare comprises cleaning, protecting, and enhancing the texture and look of one's hair with a number of products. These items include gels, oils, tonics, rinses, masks, serums, shampoos, conditioners, dressings, and sprays.
Furthermore, in order to keep up with the ever-changing hair trends, several hair care companies are now developing new silicone and sulfate-free products. Furthermore, during the projection period, factors such as rising disposable income, rising living standards, and the increased use of advanced grooming procedures are likely to function as growth catalysts for the hair care market.
Due to the different hair types and concerns, several hair care companies around the world are offering customized products in order to meet specific consumer needs, that range from cleansing, styling, softening, and strengthening to scalp care, thermal protection, damage repair, frizz control, color retention, moisturization, bond-building, and so on.
Additionally, one of the industry's important developments is a growing awareness of hair-related issues as a result of climate change, air pollution, and other environmental circumstances.
COVID-19 has had an influence on the hair and scalp care sector, since many retail and salon shops have closed, resulting in decline in the global sales of a variety of beauty and personal care goods. Many beauty salons have shut down due to worries about direct physical touch and even though a few of these salons were still running, consumers had shunned these services. As a result, DIY hair coloring has become increasingly popular.
Consumer Demand for Natural Products Drives the Market Growth
Consumers are increasingly seeking natural components and formulations free of potentially toxic compounds such as parabens, sulphates, and silicones. Consumers are also becoming more concerned about the health of their hair and scalp and are increasingly looking for solutions that address specific issues such as moisturizing, damage repair, hair regrowth/hair loss prevention, or scalp treatments.
Rising Number of Hair-Related problems is Fueling the Market Growth
Hair problems such as greying, dandruff, and hair loss are growing more widespread, which are likely to lead to a rise in demand for hair care products. According to research published in the Journal of Clinical and Diagnostic Research in October 2018, 60.3% of males aged 18-50 had hair loss and 17.1% have dandruff. Furthermore, since the elderly are more prone to hair problems than younger people, demand for such products is expected to rise in the coming years which will further contribute to the growing demand of hair care products in the country due to increase in geriatric population.
Increasing Innovation Drives the Market Growth
A few important disruptive technical innovations have fueled the hair care industry's expansion across markets. Industry participants have prioritized innovation in order to deliver best-in-class solutions with minimum negative effects. Due to rising consumer purchasing power and professional demands for style and fashion, product premiumization has widely expanded.
The industry has developed in terms of experimentation with the millennial (Gen-Y) consumer group, and with the entry of Gen-Z into the buyer's market, it is necessary to expand the product variety with tailor-made solutions catering to unique customer wants.
Rise of Male Grooming Industry Fuels the Market Growth
In the last five years, the male grooming market has risen at a high rate. Increased hair loss, receding hairlines, early balding, and other issues have heightened the need for hair care operations among men. In addition to medical concerns, millennial males face professional demands that require hair care solutions. Hair care has become a part of human well-being across communities and markets as a result of today's lifestyle and environmental conditions.
Market Segmentation
The global hair care market is segmented based on type, distribution channel, region, and competitive landscape. Based on the type, the market is segmented into shampoo, colorant, conditioner, hair oil, hair gel & wax, and others. On the basis of distribution channel, the market is segmented into supermarket/ hypermarket, grocery/department stores, specialty stores, salon/parlor, online, and others.
The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific, North America, Europe, South America, and Middle East & Africa. In terms of country, the United States hair care market is forecast to grow at impressive rate and is expected to reach around USD5.04 billion by 2027.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global hair care market.
Report Scope:
Hair Care Market, By Type:
Hair Care Market, By Distribution Channel:
Hair care Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/j6y0wc
View source version on businesswire.com:https://www.businesswire.com/news/home/20221101005944/en/
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KEYWORD:
INDUSTRY KEYWORD: COSMETICS RETAIL
SOURCE: Research and Markets
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PUB: 11/01/2022 10:34 AM/DISC: 11/01/2022 10:34 AM
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