Hair Care Market is Expected to Register Robust Growth Over the USD 211.1 Billion by 2025
Feb 08, 2021: The global hair care market is estimated to value at USD 211.1 Billion by 2025 and is expected to continue growing at a higher rate during the forecast period. Rise in demand for hair color products, rise in aging population coupled with increasing air pollution are expected to contribute to the market growth in the forecast period. Rise in hair problems and growing need for natural products are likely to contribute to the market growth in the forecast period. Enlarging opportunities coupled with technological innovation and rising need for professional hair services propel the market growth in the forecast period. Overall, the hair care market is expected to witness a CAGR of 3.1% during the forecast period.
Hair
cosmetics can be categorized into two broad categories, namely cosmetic colors
and permanent colors. Cosmetic colors have temporary effect on hair whereas
permanent colors such as permanent waxes, bleaches, and relaxers have a
permanent effect on hair. The end-result is to reduce the hair abnormalities.
From the medical perspective, hair cosmetics cater to scalp treatments
according to diversity of hair types and ethnicity.
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Hair
conditioners are also used for hair color preservation to enhance its smoothness
and strength. Typical ingredients of conditioners include cationic surfactants,
propyltrimonium, and stearamidopropyl dimethylamine. Other conditioner
components include fatty alcohols, wax, guar gums, and emulsifiers such as
ethoxylated alcohols. Instant hair conditioners, as the name suggests, are
applied immediately to stay in hair for a specific time.
The
hair care market is segmented into type, product, and geography. “Type”
category is segmented into services and products. “Services” category will
account for a significant share in the forecast period. “Product” segment is
anticipated to rise at a staggering CAGR in the coming years owing to rise in
consumer spending and expansion of salon services to accelerate the product
demand. Product category further includes shampoo, conditioning, color, soil,
and styling products.
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Geographic
segmentation for hair care market spans North America, South America, Europe,
Asia-Pacific, Middle East and Africa. North American hair care market is
expected to account for a significant market share in the forecast period.
Factors such as presence of small and large MNCs emphasizing on quality hair
care products are fueling the customer base. Subsequently, rise in annual
expenditure on hairstyle products is expected to bolster the regional growth.
Asia-Pacific’s
market growth accounts for a significant growth in the forecast period with
India and China being the largest manufacturers of hair care products. Rise in
expansion of international brands in the APAC sector is expected to fuel the market
demand in these regions.
The
key players in the hair care industry include L’Oréal, P&G, Kao
Corporation, Hindustan Unilever Ltd, Henkel Corporation, Marico Limited, Aveda
Corporation, Combe Inc, and Johnson & Johnson. Prominent players are
entering into collaborations and partnerships to enhance their market share.
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