Market Overview
The cosmetic industries are highly growing due to lifestyle and fashion changes. Concern for maintaining healthy hair is raising the demand in the Hair Care Products Market.
The growing interest in natural ingredients is a key driver of the market. This is letting the industrial players and companies launch products with natural ingredients. Organic hair care product like serums and oils, conditioners and shampoos, and styling is in greater demand, among other products. The change in fashion trends and awareness of new, effective, and safer hair care products significantly drive the market’s growth.
Organic and natural hair care products for personal grooming are a major market driver. Organic hair care products like conditioners, anti-dandruff organic hair oils and shampoo are contributing to the growth of the Hair Care Products Market.
Other factors responsible for the market’s growth are environmental pollution, global warming, and others causing hair damage, accelerating the demand for hair care products. The products with extra care features and protection from damages are driving the market globally.
During the pandemic, the market faced a downfall in the growth graph. But it is back into the recovery process in the post-pandemic period. Global Hair Care Products Market Size was valued at USD 75684.9 Million in 2021. The hair care products market industry is projected to grow from USD 79469.145 Million in 2022 to USD 111821.06 Million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2022 - 2030).Rising hair issues and increasing awareness regarding hair care products are the key market drivers enhancing market growth.
Market Segments
The Hair Care Products Market is segregated into product types and applications.
The product type section of the market is divided into shampoo, hair oil, hair conditioner, and hair gel.
The distribution channel of the market is fragmented into store-based and non-store based. The store-based segment is sub-divided into supermarkets and hypermarkets, convenience stores, and others.
Regional Analysis
According to the global geographical report, the Hair Care Products Market is distributed in major countries of North America, Latin America, Asia Pacific, Europe and the Middle East and Africa.
North America is showing the highest revenue due to its higher demand for hair care products in the region. The Asia-Pacific region is showing rapid growth as a global leader.
China is the emerging market for hair care products after the United States. In the Asia-Pacific, China is capturing the maximum market share, and it will hold the position in the forecast period. The rising demand for hair care products in the Asia-Pacific to become one of the greatest markets for hair care products in the future years. The premium hair care products enhance with increased penetration in China’s regions. The growth of the middle class is propelling towards the consumption of consumer products. The growing internet penetration is driving the e-commerce companies and attracting more which is driving the sales of the market in the forecast period.
Hair Care Products Industry Developments
September 2021:
Shiseido Company Limited's Drunk Elephant brand increased the reach of its product lines by presenting them to offline and online extreme beauty retailers. The product line offers skincare products along with Cocomino Glossing Shampoo, Cocomino Marula Cream Conditioner, and Wild Marula Tangle Spray.
January 2021: Harry's Labs introduced a new line of women's scalp care products, the incubator for Harry's Inc., as part of a plan to help its parent business become a conglomerate.
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