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Dr. Rassael Discusses Hair Loss Recovery Procedures

Hair Care Market-Growth

Hair Care Market-Growth, Trends and Forecast (2019-2024)

The haircare market is forecasted to reach USD 116.33 billion by 2024, registering a CAGR of 3.35% during the forecast period (2019 – 2024). The growing demand for organic/natural products for personal grooming has become one of the primary concerns for individuals. Among the organic hair care products, owing to its wide usage, conditioners and shampoos held a majority share in the global organic haircare market in 2018.

Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period.

Scope of the Report

The haircare market includes shampoo, conditioner, hair oil, hair spray, and others. The other hair care products include hair mask, hair gel, hair serum, colour, and various heat protective products. The market is segmented by distribution channel, which includes supermarket/hypermarket, speciality stores, convenience stores, and online retail stores. Other retail stores include drug stores, salons, etc.

Key Market Trends

Growing Demand for Organic Hair Care Products

The high demand for natural ingredients has been quite evident in the market studied, which has led to the majority of companies launching products with nature-inspired ingredients, such as plant-inspired and premium botanical ingredients.

Among the organic hair care product types, such as conditioners and shampoos, serums and oils, and styling, the former holds a majority of the share in the global organic hair care market, owing to its wide usage.

Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period. The demand for organic hair care products in Western Europe is expected to increase at a substantial rate.

Moreover, the growing personal care industry is expected to boost the market in Latin America.

Asia-Pacific Dominated the Hair Care Market

China is the second-largest market for hair care products worldwide, only after the United States. In APAC, the country holds the largest market share and is expected to hold its position during the forecast period. It has the potential to become the largest market of hair care products over the next five to ten years.

The usage of premium hair care products is most prevalent in tier one megacities, with increasing penetration in China’s inland tier two and tier three cities. This is further likely to increase with the growing middle class and consumption of consumer products.

The increasing internet penetration and push of e-commerce companies to attract consumers is driving the sales from e-commerce in the Asia-Pacific region, while sales from the physical retail channel continue to dominate the market.

Competitive Landscape

The industry leaders include L’Oreal, Henkel, and Procter & Gamble. The key players are actively focusing on gaining larger market shares, through constant innovation in products and investments in R&D, for the development of niche products. Considering the above-mentioned factors, the competitive rivalry in the industry is assessed to be high. Some key developments in the hair care market are as follows:

– Johnson & Johnson announced plans to start vertical construction on USD 18 million at the Lake Nona facility. This expansion helps to provide internal and external service to North American-based companies and functions in the Johnson & Johnson family, as well as Fortune 500 companies.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support

Hair Care Market-Growth, Trends and Forecast (2019-2024)

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Previous Posts

 

Dr. Rassael Discusses Hair Loss Recovery Procedures

Hair Care Market-Growth

Hair Care Market-Growth, Trends and Forecast (2019-2024)

The haircare market is forecasted to reach USD 116.33 billion by 2024, registering a CAGR of 3.35% during the forecast period (2019 – 2024). The growing demand for organic/natural products for personal grooming has become one of the primary concerns for individuals. Among the organic hair care products, owing to its wide usage, conditioners and shampoos held a majority share in the global organic haircare market in 2018.

Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period.

Scope of the Report

The haircare market includes shampoo, conditioner, hair oil, hair spray, and others. The other hair care products include hair mask, hair gel, hair serum, colour, and various heat protective products. The market is segmented by distribution channel, which includes supermarket/hypermarket, speciality stores, convenience stores, and online retail stores. Other retail stores include drug stores, salons, etc.

Key Market Trends

Growing Demand for Organic Hair Care Products

The high demand for natural ingredients has been quite evident in the market studied, which has led to the majority of companies launching products with nature-inspired ingredients, such as plant-inspired and premium botanical ingredients.

Among the organic hair care product types, such as conditioners and shampoos, serums and oils, and styling, the former holds a majority of the share in the global organic hair care market, owing to its wide usage.

Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period. The demand for organic hair care products in Western Europe is expected to increase at a substantial rate.

Moreover, the growing personal care industry is expected to boost the market in Latin America.

Asia-Pacific Dominated the Hair Care Market

China is the second-largest market for hair care products worldwide, only after the United States. In APAC, the country holds the largest market share and is expected to hold its position during the forecast period. It has the potential to become the largest market of hair care products over the next five to ten years.

The usage of premium hair care products is most prevalent in tier one megacities, with increasing penetration in China’s inland tier two and tier three cities. This is further likely to increase with the growing middle class and consumption of consumer products.

The increasing internet penetration and push of e-commerce companies to attract consumers is driving the sales from e-commerce in the Asia-Pacific region, while sales from the physical retail channel continue to dominate the market.

Competitive Landscape

The industry leaders include L’Oreal, Henkel, and Procter & Gamble. The key players are actively focusing on gaining larger market shares, through constant innovation in products and investments in R&D, for the development of niche products. Considering the above-mentioned factors, the competitive rivalry in the industry is assessed to be high. Some key developments in the hair care market are as follows:

– Johnson & Johnson announced plans to start vertical construction on USD 18 million at the Lake Nona facility. This expansion helps to provide internal and external service to North American-based companies and functions in the Johnson & Johnson family, as well as Fortune 500 companies.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support

Hair Care Market-Growth, Trends and Forecast (2019-2024)

Source

Previous Posts

 

conditioner hair loss

North America Hair Care Market Forecast 2017-2025

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.

MARKET INSIGHTS

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.

COMPETITIVE INSIGHTS

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.

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