The hair products market is projected to grow by USD 15.29 Billion from 2024-2028, with AI driving market transformation and rising hair-related issues boosting demand - Technavio

NEW YORK, Sept. 23, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global hair products market size is estimated to grow by USD 15.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.2%  during the forecast period. Increasing hair-related issues is driving market growth, with a trend towards growing demand for natural and organic hair products  However, availability of counterfeit products  poses a challenge - Key market players include Amway Corp., Colgate Palmolive Co., Coty Inc., Flora and Curl Ltd., Godrej Consumer Products Ltd., Henkel AG and Co. KGaA, John Paul Mitchell Systems, Johnson and Johnson Services Inc., Kao Corp., LOreal SA, NATULIQUE Ltd., Natura and Co Holding SA, OUAI Hair Care, Pai Shau Inc., Revlon Inc., Shiseido Co. Ltd., ST. TROPICA Inc., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC.

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Market Driver

The increasing awareness of hair and skin-related issues caused by synthetic hair products has fueled the demand for natural and organic alternatives. These issues include skin irritation, allergies, nerve damage, chemical burns, blisters, hair breakage, and some forms of cancer. Organic hair products, made from natural and organic ingredients like plant extracts, natural oils, aloe vera, sea salt, charcoal, coconut oil, argan oil, and moringa oil, offer a solution. Manufacturers are expanding their product lines to cater to this trend and differentiate their offerings. Organic hair styling products, free from harmful ingredients such as petrochemicals, sulfates, and ammonia, adhere to high standards of purity set by various regulatory bodies. This growing preference for natural and organic hair care is expected to boost the global hair products market during the forecast period. 

The Hair Products Market is thriving with a focus on hair care essentials such as Shampoo, Conditioner, Oil, Serum, and various forms like Liquid, Gel, Cream, and Lotion. Trends include Hair nourishment for Dry and Oily Hair, Damaged Scalp, Colored Hair, Curly Hair, and Veg Keratin products. Consumers prefer Cruelty-free and Chemical-free options made from Plant-based materials. Salons and Hair care establishments offer Hair coloring services and Hair styling products like Hairdressing tools, Herbal products, and Aveda Corp's offerings. Long Hair is in, but concerns like Hair loss, Greying, Dandruff, and Allergic reactions persist. Toxic chemicals like Parabens, Sodium lauryl sulfate, and Phthalates are being replaced. Brands like Straand cater to specific needs. Distribution channels include Supermarkets, Specialty stores, Online stores, and Convenience Stores. Hair Styling Products like Perms and Relaxants, Hair colorants, Hair styling gel, and Hair spray complete the market landscape. 

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 Market Challenges

• The hair products market is experiencing significant growth due to increasing demand for hair care and styling solutions. However, this market trend has led to an influx of counterfeit hair products, which pose a threat to consumers' hair health and the reputation of genuine vendors. These counterfeits, made from low-quality raw materials, contain harmful chemicals such as ammonia, peroxide, p-phenylenediamine, diaminobenzene, toluene-2,5-diamine, and resorcinol. Exposure to these chemicals can result in various hair and skin issues, including irritation, allergies, hair damage, and even cancer. The rise of e-commerce has facilitated the sale of counterfeit hair products, making it difficult for consumers to distinguish them from genuine ones. Their lower prices attract customers, putting pressure on global vendors to match prices and reduce profit margins. Despite the challenges, vendors invest in promotional campaigns to build brand loyalty and protect market share. Counterfeit producers save costs on production and transportation, allowing them to offer lower prices, which remains a significant hurdle for genuine vendors in the hair products market.
• The Hair Products Market faces several challenges in 2023. Consumers are increasingly seeking herbs and essential oils for natural hair care solutions. Premium products, such as dermatological anti-dandruff shampoos, are in demand to address hair issues like dullness and brittleness. However, the use of chemicals, including aluminum compounds, in some hair care products raises concerns. Natural products, including organic hair oils like ginseng oil and rosemary leaf extract, are gaining popularity due to their aromas and active ingredients. Certified organic and nature-inspired ingredients are preferred over hazardous substances. Culture and ethnicity influence consumer preferences, with the Shampoo, Conditioner, and Hair Oil segments showing growth. Store-based distribution channels dominate, but the Spa industry is a significant player. Air pollution also poses a challenge, necessitating innovative hair care solutions. The market is evolving, with a focus on high-end botanical ingredients and sustainable practices. Understanding these trends and consumer preferences is crucial for businesses to succeed in the Hair Products Market.

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Segment Overview 

This hair products market report extensively covers market segmentation by  

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Hair care products
• 2.2 Hair styling products
3. Geography 
• 3.1 Europe
• 3.2 APAC
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The hair products market is a significant sector with various companies offering shampoos, conditioners, styling products, and tools. Brands cater to diverse consumer needs, such as volumizing, anti-dandruff, color-protecting, and smoothing. Consumers prioritize factors like affordability, effectiveness, and brand reputation when making purchases. Companies invest in research and development to launch innovative products and maintain market share. Competition is fierce, necessitating strategic marketing and distribution strategies.

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The hair products market encompasses a wide range of offerings designed to address various hair concerns and enhance styling. These include shampoos, conditioners, oils, serums, gels, creams, lotions, and hair loss treatments. Hair care products cater to both everyday use and specific hair issues, such as damage, dryness, or color treatment. Shampoos and conditioners are essential staples, while oils, serums, and creams provide additional hair nourishment. Hair styling products, such as gels, waxes, and mousses, offer versatility for various styles. Hair loss treatments and hair colorants address specific concerns, while perm and relaxant solutions offer permanent or temporary hair transformations. Convenience stores, pharmacies, and drug stores stock a wide range of hair products. Consumers increasingly seek out organic and natural alternatives, free from chemicals like parabens and aluminum compounds. Brands respond with offerings that include aromas, active chemicals, and nature-inspired or plant-inspired ingredients, appealing to those seeking high-end botanical ingredients for their hair care routine.

The hair products market encompasses a wide range of offerings, including shampoos, conditioners, oils, serums, gels, creams, lotions, and more. These products cater to various hair types and concerns, such as dry hair, oily hair, damaged scalp, colored hair, curly hair, and more. Some hair care products are made with vegan keratin, cruelty-free, and chemical-free ingredients, while others may contain toxic chemicals like parabens, sodium lauryl sulfate, and phthalates. Hair care establishments and salons offer professional hair coloring services, as the long hair trend continues to gain popularity. However, hair loss, greying, dandruff, and hair fall are common issues that many people face. Herbal products and fruit extracts, as well as essential oils, are increasingly popular for their natural benefits. Millennials and changing lifestyle patterns have led to an increase in demand for premium, plant-based, and high-end botanical ingredients. Distribution channels for hair products include supermarkets, specialty stores, online stores, pharmacies, drug stores, and convenience stores. Hair styling products like gels, hairsprays, and perm and relaxants are also popular. It's important to note that some chemicals and synthetic ingredients, such as aluminum compounds and parabens, can cause allergic reactions or other health concerns. Dermatological anti-dandruff shampoos and organic products offer alternatives for those with sensitive scalps or who prefer natural ingredients. Overall, the hair care market is diverse and constantly evolving to meet the changing needs and preferences of consumers.

Table of Contents:

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

• Distribution Channel
• Offline
• Online
• Product
• Hair Care Products
• Hair Styling Products
• 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

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SOURCE Technavio