Shampoo Market to Reach $58.3 Billion, Globally, by 2034 at 5.1% CAGR: Allied Market Research

The shampoo market growth is driven by increased consumer awareness of hair health, demand for natural and organic ingredients, rise in beauty trend influence, and expanded e-commerce accessibility. In addition, urbanization and higher disposable incomes have boosted consumer spending on diverse and premium hair care products.

WILMINGTON, Del., Sept. 4, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Shampoo Market by Product Type (Medicated and Non-Medicated), Price Point (Low, Medium and High), End User (Men, Women and Kids), and Distribution Channel (Supermarkets/Hypermarkets, Drug Stores or Pharmacy, Mass Merchandiser, Departmental Stores, Mono-Brand Stores, Specialty Stores and Online Sales Channel): Global Opportunity Analysis and Industry Forecast, 2024-2034". According to the report, the global shampoo market size was valued at $34.1 billion in 2023, and is projected to reach $58.3 billion by 2034, growing at a CAGR of 5.1% from 2024 to 2034.

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Prime determinants of growth 

Increase in consumer awareness of personal hygiene and hair health led to higher demand for specialized shampoos that address various concerns, such as dandruff, hair loss, and damage repair. Innovations in product formulations, including natural and organic ingredients, attracted health-conscious consumers seeking safer alternatives to traditional shampoos. The growing influence of beauty trends and the popularity of premium and luxury brands further stimulated shampoo market expansion. In addition, the rise of e-commerce platforms facilitated greater accessibility to a wide range of products, allowing consumers to explore diverse options in the shampoo industry. Moreover, expanding urban populations and rise in disposable incomes also contributed to higher consumer spending on hair care products, thereby fueling overall shampoo market growth.

Report coverage & details:

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The non-medicated segment held the highest market share in 2023.  

By product type, the non-medicated segment held the highest market share in 2023. The demand for non-medicated shampoo is high owing to an increase in consumer preference for daily-use products that offer gentle cleansing without harsh chemicals. Many consumers sought shampoos with natural and organic ingredients, driven by a growing awareness of health and environmental impacts. Non-medicated shampoos, often marketed for specific benefits such as hydration, volume, and shine, appealed to consumers looking for effective yet mild hair care solutions. Moreover, the trend toward personalized hair care led to the development of non-medicated shampoos targeting various hair types and concerns, enhancing their appeal in the global shampoo market. Furthermore, the influence of lifestyle and beauty trends also encouraged regular use of such versatile non-medicated shampoo products. 

The medium segment held the highest market share in 2023  

By price point, the medium segment held the highest market share in 2023. Medium-priced shampoo products saw high demand owing to their balance of quality and affordability. Consumers perceived these products as offering better value compared to lower-priced options, which often lacked desired features. These shampoos frequently included beneficial ingredients such as vitamins and natural extracts without the high cost associated with premium brands. As consumers became more educated regarding hair care, they prioritized products that effectively addressed their needs without overspending. In addition, the availability of medium-priced shampoos in various retail outlets, both online and offline, made them easily accessible to a wide audience. Furthermore, marketing strategies also positioned these products as reliable and cost-effective, boosting their popularity in the global shampoo market.

The women segment held the highest market share in 2023  

By end user, the women segment held the highest market share in 2023. The demand for shampoo among women consumers is high owing to the diverse hair care needs and styling preferences prevalent among women. Women often prioritized maintaining hair health, texture, and appearance, driving the use of shampoos tailored to various hair types and concerns, such as dryness, frizz, or color protection. The influence of fashion and beauty trends among women, which often emphasized vibrant and well-maintained hair, contributed to frequent shampoo purchases in this segment. In addition, women typically engaged in more elaborate hair care routines, requiring products that complemented other treatments such as conditioners and hair masks. Moreover, marketing campaigns often targeted women with benefits of luxurious, salon-quality results, further boosting global shampoo market growth. 

The drug stores or pharmacy segment held the highest market share in 2023

By distribution channel, the drug stores or pharmacy segment held the highest market share in 2023. Shampoo sales in drug stores or pharmacies remained high owing to their accessibility and consumer trust in these locations for personal care products. Shoppers often perceive pharmacies as reliable sources for health and wellness items, including shampoos that promise specific benefits such as dandruff control or sensitive scalp care. The convenience of picking up shampoo alongside other health essentials during regular visits also drives sales. Additionally, drug stores frequently offer a wide range of brands and formulations, catering to diverse consumer needs and preferences. Competitive pricing and promotions in these retail settings further encourage consumers to purchase shampoos from drug stores.

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Asia-Pacific led the market share in 2023

By region, Asia-Pacific held the highest market share in terms of revenue in 2023 owing to its large and diverse population, which creates substantial demand for various hair care products including shampoo. Rapid economic growth and increase in disposable incomes contribute to greater consumer spending on personal care. The cultural emphasis on grooming and beauty in the region has driven frequent use of shampoos. In addition, the growing influence of beauty trends from countries such as South Korea and Japan introduced innovative products and formulations, thus driving the shampoo market growth. Furthermore, the expanding middle class and rising urbanization also increased access to a variety of shampoo brands, further boosting market shares in the region.

Players: -

• Estee Lauder Companies
• Henkel AG &Co. KGaA
• Hindustan Unilever Limited
• Johnson & Johnson
• Kao Group
• L'Oreal S.A.
• Marico Limited
• Natura & Co.
• Oriflame Holding AG
• Procter & Gamble (P&G)

The report provides a detailed analysis of these key players in the global shampoo market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Industry Dev:

• In February 2024, Henkel launched a sulfate-free shampoo to cater to the demand for gentler hair care products to tap into the premium segment of the shampoo market .
• In April 2023, L'Oréal introduced a new anti-dandruff shampoo to address increasing hair loss issues linked to lifestyle changes and environmental factors.
• In January 2023, Procter & Gamble expanded its product line with a new herbal shampoo, focusing on natural ingredients to appeal to environmentally conscious consumers.
• In May 2022, Medimix, a brand under the AVA group, launched its total care shampoo, infused with natural ingredients aimed at catering to all hair types.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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