Hair relaxer sales decline 26% over the past five years, reports Mintel
CHICAGO, Sept. 4, 2013 /PRNewswire/ -- While hairstyle trends change throughout the decades, the one constant is hair styling and product launches being big business. But new research from Mintel reveals that natural may be the new normal in Black haircare, as relaxers account for just 21% of Black haircare sales and the sector has declined 26% since 2008 and 15% since 2011 when sales reached $179 million—the only category not to see growth.
Mintel's research estimates the relaxer segment will reach $152 million this year, down from $206 million in 2008. Furthermore, in the past 12 months, nearly three-fourths (70%) of Black women say they currently wear or have worn their hair natural (no relaxer or perm), more than half (53%) have worn braids, and four out of 10 (41%) have worn locks.
"The natural hair trend is driving an increase in sales of styling products such as styling moisturizers, setting lotions, curl creams, pomades, etc., but the increase has caused the relaxer segment to decline in sales," says Tonya Roberts, multicultural analyst at Mintel. "A look at expenditures from 2008-2013 shows steady growth in the Black haircare category for all categories except relaxers/perms."
Shampoo and conditioner formulated for Black hair is estimated to reach $257 million in 2013, up from $211 million in 2008. The styling products segment has also increased from $220 million in 2008 to an estimated $268 million in 2013. Meanwhile, the hair color market is forecast to see sales of $36 million in 2013, compared to $32 million in 2008.
However, when it comes to achieving the perfect look, it seems Black women are willing to shell out top dollar to change up their hair. More than half (51%) agree that it's worth spending more on hair care products to achieve the best results while 39% say they like to experiment with new hair care products.
"Given their passion and love of hair, Black consumers represent a lucrative market for companies. Black consumers are always looking for new products to try and seeking information about haircare products," notes Tonya Roberts. "Social networking is one avenue that has helped to garner trust, empowerment, individuality, and pride as it relates to haircare. Brands have been born and re-born using social networks."
So what's the appeal of the natural style? Forty-eight percent of women believe natural or curly hairstyles exude confidence and the same percentage consider them daring. Meanwhile, 45% of Black women think natural coifs are trendy.
Mintel is a leading global supplier of consumer, product and media intelligence. For more than 40 years, Mintel has provided insight into key worldwide trends, offering exclusive data and analysis that directly impacts client success. With offices in Chicago, New York, London, Sydney, Shanghai, Tokyo, India, Malaysia, Singapore and Sao Paulo, Mintel has forged a unique reputation as a world-renowned business brand. For more information on Mintel, please visit www.mintel.com.