The global hair care market is expected to reach USD 211.1 billion by 2025, according to a new report by Grand View Research, Inc. The increasing demand for hair color products, owing to the growing aging population base and increasing air pollution, are the major factors contributing toward significant market growth.
Growing trend in fashion industry and rising hair-related problems coupled with technological innovation in product manufacturing are one of the high impact rendering factors contributing to the demand of products and services, which thus propel the growth of the market. In addition, high penetration of salon services across the globe along with increasing demand for professional products, and changing grooming pattern especially among male consumers are another drivers accelerating the market growth.
Moreover, the increasing migration of rural population to metropolitan areas and rising expenditure on beauty and personal care products are anticipated to accelerate the market growth. Thus, resulting in the introduction of modified products sustaining the various needs of the consumers based on different cultures, regions and hair types.
Browse full research report with TOC on"Hair Care Market Size, Share, & Trend Analysis Report By Type (Product, Services), By Product (Shampoo, Hair Color, Conditioner, Hair Styling Product, Hair Oil), By Region, Competitive Landscape, And Segment Forecasts 2018 - 2025" at:https://www.grandviewresearch.com/industry-analysis/hair-care-market
Further Key Findings From the Report Suggest:
Services held the largest market share owing to the growing popularity of hair extensions in countries such as the UK, and the U.S., and the inclination towards enhanced appearance coupled with growing population base.
Shampoo held the largest share in the product segment due to rising consumer awareness on the benefits of organic and natural shampoo. The increasing air pollution coupled with high adoption rate of shampoo in daily use is attributed to the largest market share.
Hair color is expected to witness fastest growing product over the forecast period owing to the changing fashion trend. The increasing penetration of national and international salons in tier II and tier III cities in Asia Pacific, EMEA and North America region and rising product visibility across multi-retail outlets contribute to the fastest growth of the product.
U.S. dominated the hair care market owing to the presence of large multinational companies focusing on providing superior quality hair care products such as styling products, conditioner, color and shampoo.
India is expected to be the fastest growing country with a CAGR of 9.73% due to the presence of wide range of hair oil products.
Some of the key players are L'Oreal, Hindustan Unilever Ltd., P&G, Kao Corporation, Marico Limited, Aveda Corporation, Henkel Corporation, Combe Incorporated, Johnson & Johnson, and Avon.
Most of the companies are engaged in adopting strategies such as mergers and acquisition, collaborations, and new product development to increase their market share. For instance, in September 2017, L'Oréal and Natura Cosmeticos SA signed an agreement for the sale of The Body Shop to Natura.
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Grand View Research has segmented the global hair care market on the basis of type and product:
Hair Care Type Outlook (Revenue, USD Billion, 2014 - 2025)
Hair Care Product Outlook (Revenue, USD Billion, 2014 - 2025)
Hair Styling Product
Hair Care Regional Outlook (Revenue, USD Billion, 2014 - 2025)
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: +1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected]