The North America haircare market is expected to grow at a CAGR of 1.07% during the forecast period of 2017-2025 and is anticipated to be worth $15638 million by 2025.
Some of the major factors responsible for this growth are aging population, a surge in male grooming, rising number of fashion conscious users, growth in organized retail, and the technological advancement in hair care products.
The market is segmented on the basis of types of components and the distribution channels.
The distribution channel includes hypermarkets/ retail chains, e-commerce, specialty stores, pharmacies, salons and others.
Of these, the specialty store distribution channel is expected to lead the market during the forecast years closely followed by e-commerce distribution channel and hypermarkets.
The types of components in the hair care market include 2-IN-1 products, hair colorants, conditioners, shampoos, perms and relaxants, styling agents, hair loss treatments, etc.
Of these, the shampoos component is expected to dominate the haircare market during the forecast period because of its various applications in hair care like removal dandruff, dry skin particles, dirt, oils, and environmental pollutants.
The Perms and Relaxants components too is expected to grow at a CAGR of 3.58% during the forecast period.
A large number of unexplored markets, rising demand for organic products and an inclination of growth towards emerging markets are presenting the haircare market with excellent growth opportunities.
However, the market is facing some stark challenges from the fact that there are a huge number of counterfeit products available along with an increasing concerns amongst the consumers regarding the side effects of some of the components used in hair colorants. Also, increasing competition from local players are affecting the market growth of established global brands in the region.
L’Oreal Group is a pioneer in hair care technology in the United States. The company has its research focused on hair care, make-up, aromas, beautifying agents and also in dynamic areas like biopharmaceutical research fields, dermatology, tissue designing, and toxicology.
The other major companies in the region are Unilever, Natura Cosmeticos, Avon Products, Inc, Johnson & Johnson, The Procter & Gamble Company, Henkel Ag & Co, Amway Corporation, Church & Dwight Co Inc, Oriflame Holding Ag, Beiersdorf Ag, Revlon, Inc, etc.