Hair Care Market size is set to grow by USD 15.25 billion from 2024-2028, Influence through social media and blogging to boost the market growth, Technavio

NEW YORK, Aug. 9, 2024 /PRNewswire/ -- The global hair care market size is estimated to grow by USD 15.25 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.2% during the forecast period.  Influence through social media and blogging is driving market growth, with a trend towards growing adoption of home salon services. However, adverse health effects of chemical or synthetic components used in hair care products poses a challenge. Key market players include Amway Corp., CavinKare Pvt. Ltd., Chatters GP Inc., Edgewell Personal Care Co., Emami Ltd, Godrej Consumer Products Ltd., Hanz de Fuko, Henkel AG and Co. KGaA, John Paul Mitchell Systems, Johnson and Johnson Services Inc., Kao Corp., LOreal SA, NATULIQUE Ltd., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., Truefitt and Hill, Unilever PLC, and Wella International Operations Switzerland Sarl.

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Key Market Trends Fueling Growth

Personalized home salon services have gained popularity in regions like North America, Europe, and APAC over the past decade. The rise of app-based salon providers, such as Housejoy in India and GLAMSQUAD Inc. In the US, offering at-home grooming services, has significantly increased. Consumers can order services through mobile apps and receive makeup artists at their doorstep. Housejoy provides various grooming packages, including herbal body spa services, while GLAMSQUAD offers hair, makeup, and special event services. Both companies have desktop and mobile applications for easy appointment booking. The convenience and affordability of these services have led to increased demand and consumption of herbal hair care products, contributing to the growth of the hair care market. 

The Hair Care Market is thriving with trends like curly hair, vegan Keratin products, and cruelty-free, chemical-free, and plant-based materials gaining popularity. Protein-rich formulas help combat breakage, while salons and hair care establishments offer color-protecting shampoos for color-treated hair. Gray hair coloring is in demand, especially for long hair, which can be styled into multiple hairstyles. Hair issues such as dandruff, hair loss, and damage are addressed with hair grooming products like cleansers, serums, hair oil, hair styling gel, and hair spray. Microbiome-centric products are on the rise to avoid allergic reactions. European market is leading, catering to a beauty-conscious population. Avoid toxic chemicals like parabens, sodium lauryl sulfate, and phthalates. Specialty and online stores offer a wide range of hair care products, including colorants and hairdressing products. Rosemary leaf extract and ginseng oil are popular natural ingredients. 

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Market Challenges

• The hair care market faces challenges due to increasing health concerns over the use of chemical or synthetic components in hair care products. These substances, found in hair dyes, gels, serums, and styling agents, can lead to health issues such as asthma, allergic reactions, non-Hodgkins lymphoma, breast cancer, and multiple myeloma. Para-phenylenediamine (PPD) and ammonia are common components causing skin irritation and respiratory problems. Moreover, 4-ABP, a hair dye by-product, has carcinogenic effects. To mitigate these risks, consumers are turning towards plant-derived alternatives. This shift may hinder the growth of the global hair care market during the forecast period.

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Segment Overview 

This hair care market report extensively covers market segmentation by

1. Product 
• 1.1 Hair color
• 1.2 Shampoo
• 1.3 Conditioner
• 1.4 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 Europe
• 3.2 APAC
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Hair color-  The hair color segment of the global hair care market is experiencing significant growth, driven by the increasing geriatric population and changing fashion trends. This segment is projected to expand steadily during the forecast period. The elderly use hair colorants to cover graying and white hair, while the young generations opt for various types of hair color due to new shades and styles. The hair color market is thriving, with an increasing number of salons and spas worldwide. Additionally, the rising cases of premature greying are contributing to the growth of this segment. However, manufacturers face challenges in producing less harmful and chemical-free hair colors to avoid skin irritation and allergies. Wella Koleston Perfect, L'Oreal's Matrix SoColor, and John Paul Mitchell Systems' Paul Mitchell are popular hair color brands offering permanent and semi-permanent dyes. Consumers consider hair color solutions based on their hair type, scalp, and hairstyle, often consulting online blogs for reviews. The growth of the hair color segment is expected to fuel the expansion of the global hair care market during the forecast period.

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The global hair removal wax market is witnessing steady growth, driven by increasing demand for personal grooming and beauty products. Market size is expanding as consumers prioritize smooth, hair-free skin, with innovations in waxing formulations enhancing user experience. Key segments include strip wax and hot wax, catering to both men and women. Regional analysis highlights significant market presence in North America, Europe, and Asia-Pacific, with emerging markets showing strong potential. Leading players are focusing on product diversification and eco-friendly options to capture a larger market share.

Market Research Overview

The Hair Care Market encompasses a wide range of products designed to maintain and enhance the health and appearance of hair. These include shampoos, conditioners, oils, serums, gels, creams, lotions, and other hair styling products. Hair health is a significant concern for many, with issues such as damage, dryness, oily scalp, and colored or curly hair common concerns. Veg Keratin products, cruelty-free, and chemical-free options made from plant-based materials are increasingly popular. Hair maintenance is essential for all hair types, including long hair, multiple hairstyles, and color-treated hair. Hair care establishments and salons offer professional services, while self-grooming products are readily available at specialty stores and online. Hair damage, dryness, and greying are common hair issues addressed by various hair care products. Dandruff, hair loss, and allergic reactions are other concerns. Microbiome-centric products are gaining popularity for their ability to maintain a healthy scalp. Toxic chemicals such as parabens, sodium lauryl sulfate, and phthalates are being replaced with natural alternatives. Hair care is not just about personal appearance but also self-esteem and social connection. Hair grooming products are a significant part of the personal care industry, with spa businesses and self-care routines playing a crucial role. Hair care packaging is also a consideration, with an emphasis on sustainability and eco-friendliness. Environmental stressors, chemical treatments, and heat styling tools can all contribute to hair damage. Rosemary leaf extract and ginseng oil are natural alternatives to toxic chemicals for promoting hair health. Volume enhancement, controlled release, stability enhancement, fiber strengthening, fiber thickening, hair enrichment, smoothening, and spray are some of the features of modern hair care products. Hair styling products such as gels, creams, lotions, and sprays offer various benefits, including hold, shine, and frizz control. Heat styling tools and coloring services are popular for creating multiple hairstyles and addressing hair concerns. Gray hair coloring is a growing trend, with an increasing number of options for natural and chemical-free solutions. Celebrity endorsements and social media influencers play a significant role in promoting hair care products and trends. However, it's essential to be aware of the potential harmful effects of some ingredients and to choose products that align with individual hair needs and preferences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Hair Color
• Shampoo
• Conditioner
• Others
• Distribution Channel
• Offline
• Online
• Geography
• Europe
• APAC
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio