Hair Styling Products Market size is set to grow by USD 5.36 billion from 2024-2028, Innovation and portfolio extension leading to product premiumization to boost the market growth, Technavio

NEW YORK, June 20, 2024 /PRNewswire/ -- The global hair styling products market size is estimated to grow by USD 5.36 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.39% during the forecast period. Innovation and portfolio extension leading to product premiumization is driving market growth, with a trend towards growing demand for natural and organic hair styling products. However, availability of counterfeit products poses a challenge. Key market players include Amorepacific Corp., Amway Corp., Flora and Curl Ltd., Godrej Consumer Products Ltd., Henkel AG and Co. KGaA, Hoyu Co. Ltd., Kao Corp., LOreal SA, Mandom Corp., NATULIQUE Ltd., Olaplex Holdings Inc., Oriflame Cosmetics S.A., Pai Shau Inc., Revlon Inc., Shiseido Co. Ltd., The Avon Co., The Estee Lauder Companies Inc., The Procter and Gamble Co., Unilever PLC, and Wella International Operations Switzerland Sarl.

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Key Market Trends Fueling Growth

The demand for natural and organic hair styling products is on the rise due to health concerns associated with synthetic alternatives. These products can lead to skin irritation, allergies, nerve damage, and hair breakage, among other issues. Organic hair styling products, made from natural and organic ingredients like aloe vera, sea salt, and coconut oil, offer a safer alternative. Manufacturers are expanding their product lines to meet this demand and differentiate their offerings. Popular organic hair styling products include hairspray, hair cream, and dry shampoo from Revlon and The Procter and Gamble Co.'s Royal Oils Scalp Elixir Treatment. With strict adherence to purity standards, these products are free from harmful ingredients like petrochemicals, sulfates, and ammonia. The growing preference for organic hair styling products is expected to fuel market growth during the forecast period. 

The hair styling products market is experiencing significant growth, with an array of offerings from various brands. Fragrance and curly hair care are popular trends. Hair care lines include shampoos, conditioners, and hair sprays. Hair sprays provide hold and flexibility, while fragrance-infused shampoos and conditioners add a pleasant scent. Colors and dyes are also in demand, offering a wide range of hues. Hair dyes come in various forms, including permanent and semi-permanent. Hair relaxers and straighteners are popular for those seeking to change their hair texture. Makeup and beauty brands also offer styling tools, such as brushes and combs, to help create desired looks. Overall, the hair styling products market is diverse and continually evolving to meet consumer needs. 

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Market Challenges

• The hair styling products market faces a significant challenge from counterfeit items, which are made from subpar materials and contain harmful chemicals. These chemicals, such as ammonia, peroxide, and p-phenylenediamine, can lead to hair damage and various health issues. E-commerce's expansion contributes to the sales of counterfeit products, making it difficult for consumers to distinguish them from genuine items. Counterfeits are popular due to their lower prices, forcing legitimate vendors to reduce their prices and profits. Despite promotional efforts, the cost of these campaigns further decreases profit margins. Counterfeit producers save on production and transportation costs, allowing them to offer lower prices, posing a significant challenge for branded hair styling product vendors.
• The Hair Styling Products market faces several challenges. Producers strive to create high-quality, long-lasting products for consumers. Colors, hairsprays, and styling mousse are popular choices. However, ensuring consistency in color production and maintaining product freshness are significant hurdles. Consumers also demand natural and organic ingredients, adding complexity to formulation development. Additionally, the trend towards personalized hair care requires customized solutions, increasing the need for versatile and adaptable products. Producers must balance these demands with cost-effectiveness and efficiency in production. Overall, the Hair Styling Products market requires innovative solutions to meet the evolving needs of consumers while maintaining profitability.

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Segment Overview 

This hair styling products market report extensively covers market segmentation by

1. Type 
• 1.1 HCGP
• 1.2 Hair styling spray
• 1.3 Dry shampoo
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 HCGP- The Hair Styling Products market is thriving, with numerous businesses offering a wide range of items. Shampoos, conditioners, styling gels, and hair sprays are popular choices. Consumers prioritize brands that cater to their specific hair types and concerns. Marketing strategies focus on product innovation, affordability, and customer satisfaction. Competition is fierce, necessitating continuous improvement and adaptation to consumer preferences. Businesses invest in research and development to launch new products and maintain market share. The market's growth is driven by increasing awareness of personal grooming and the desire for attractive appearances.

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Research Analysis

The Hair Styling Products market is experiencing a significant shift towards plant-based ingredients, aligning with consumer preferences for natural and sustainable options. Bulldog SkinCare and other brands are leading this trend, incorporating Natural Hero Ingredients such as Argan oil, Shea butter, and Mediterranean sea salt into their hair styling product ranges. The market encompasses a variety of offerings, including pomades, creams, sprays, gels, hair oils, and powders. Those with thin hair seek thickening hair lotions and volume enhancer sprays, while those with frizzy hair turn to sulfate-free shampoos and anti-frizz conditioners. The premiumization trend is also evident, with an increasing demand for vegan certification, post-consumer recycled packaging, and plant-based plastic packaging. E-commerce platforms facilitate the convenient purchase of these products, catering to diverse hair types and styles, such as natural curls, and offering solutions like hair serums, dry shampoo, hair crème, mousse, and more.

Market Research Overview

The Hair Styling Products market encompasses a wide range of offerings designed to enhance and maintain the appearance of hair. These products include but are not limited to shampoos, conditioners, hair sprays, gels, mousses, serums, and hair oils. The market caters to various hair types and concerns, such as dry, oily, damaged, colored, and curly hair. The demand for hair styling products is driven by factors like increasing awareness of personal grooming, changing fashion trends, and the availability of innovative and effective solutions. Consumers seek products that provide benefits like volumizing, smoothing, strengthening, and protecting their hair. The market is also influenced by factors like pricing, packaging, and distribution channels.

Table of Contents:

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

• Type
• HCGP
• Hair Styling Spray
• Dry Shampoo
• Distribution Channel
• Offline
• Online
• Geography
• Europe
• North America
• APAC
• 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