Hair Care Market - Global Industry Analysis

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In today’s glamorous world, a major portion of the global population has become beauty-conscious and thus people are opting for various beauty-enhancing products available in the market. Hair care products repair and reduce hair damage, as well as protect and nourish the hair from pollution, dryness, and several other factors. Hair care products have come a long way over the years and there are a number of brands offering hair oils, hair colorants, shampoos, and other hairstyling products. All these products are mainly composed of natural and synthetic ingredients. The major consumption of these products is by hair care professionals in salons, beauty parlors, and at homes by individuals.

The hair care market is projected to maintain a steady growth rate throughout the forecast period with a CAGR of 3.15% for the forecasted period. The factors that are contributing to the growth of the hair care market are continuously increasing the number of fashion-conscious customers, the availability and launch of many customized products as well as growing penetration of hair salon services across the globe. The growing concerns related to hair damage and hair falls is a major factor propelling the growth of the market. Growing trends in the ever-changing fashion industry such as surging demand for professional products and changing grooming patterns, especially in male consumers are the factors driving the growth of the market.

The rise in customer spending on beauty and hair care products, increasing disposable income of people in developing nations, and concerns of customers related to grey hairs are some of the factors accounting for the rapid growth of hair care products in the global market. Factors restraining the growth of the hair care market are expensive product costs along with high manufacturing and marketing costs. Expansion of the organized retail business in various parts of the world and growing demand for organic and environment-friendly products are expected to offer various opportunities in the global hair care market.

Market segmentation of the global hair care market is based on the product and distribution channel. The product segment is categorized into shampoos, conditioners, hair oils, colorants, hair styling products, and others (hair loss treatments, and hair accessories). The distribution channel segment is further bifurcated into direct selling, pharmacies, e-commerce, and hypermarkets & retail stores. Regional segmentation of the hair care market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation into major countries such as the U.S., UK, France, Germany, China, Japan, India, and Brazil.

The major players operating in the global hair care market are Oriflame Holding AG, L'Oreal Group, Amway, Johnson & Johnson, Unilever, Shiseido Company Ltd., Beiersdorf AG, Church & Dwight Co. Inc., NaturaCosmeticos SA, and Procter & Gamble Co., among others.