Hair Care Market To Record Impressive Growth, Revenue To Surge To US$ 110.70 Billion By 2024

With the presence of a large pool of participants, the global hair care market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Oriflame Holding AG, L'Oreal Group, Amway, Johnson & Johnson, Unilever, Shiseido Company Ltd., Beiersdorf AG, Church & Dwight Co. Inc., Natura Cosmeticos S.A.,   and Procter & Gamble Company are some of the key vendors of hair care across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the hair care market study.

This review is based on a report by Zion Market Research, titled “Hair Care Market by Product (Hair Oils, Colorants, Shampoos, Conditioners, Hair Styling Products, and Others (Hair Loss Treatments, Hair Accessories) and by Distribution Channel (Direct Selling, E-Commerce, Pharmacies, and Hypermarkets & Retail Stores): Global Industry Perspective, Comprehensive Analysis, and Forecast 2017-2024.”- Report at https://www.zionmarketresearch.com/report/hair-care-market

Citing an instance, in October 2018, SeneGence International ®- a global beauty brand- launched a highly anticipated hair care collection referred as SeneGence HairCovery™ - a service comprising of a shampoo, conditioner, and serum designed to work together for reviving dull and lifeless hair.

As estimated in this report, the global hair care market stood at US$ 89.08 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this hair care market is expected to reach US$ 110.70 billion by the end of the forecast period. The main products available in this hair care market are hair oils, colorants, shampoos, conditioners, hair styling products, and others.

Huge Concerns Over Hair-Related Issues Is Likely To Impact Market Revenue

“Major issues associated with hair care including hair loss, grey hair, hair thinning, and hair damage  are slated to contribute significantly towards hair care market size,” says the author of this study. Apart from this, rise in the consumer expenditure on the spectrum of beauty and personal care items is anticipated to escalate the expansion of hair care market in the years to come. In addition, easy availability and introduction of customized products are the key factors projected to fuel the growth of hair care market in the foreseeable future.

Technological innovations in the hair care products, rise in the number of male grooming patterns, and massive increase in the amount of fashion-conscious consumers are projected to accelerate the growth graph of hair care market in the years ahead.

Expensive product costs along with high production and marketing costs, however, are projected to restrict the increment of hair care market earnings in the years to come. Nevertheless, the growth of retail business chains across the globe along with the escalating demand for organic & eco-friendly products are projected to offer lucrative avenues for hair care market in the ensuing years. This, in turn, will normalize the impact of hindrances on the hair care market, reports the study.

Massive Demand For Hair Care Products To Support North America’s Dominance

Regionally, North America has been leading the worldwide hair care market and is anticipated to continue on the dominant position in the years to come, states the hair care market study. Rising acceptance of hair care products in salons & spas along with altering male grooming patterns is the main factor behind the dominance of the North America hair care market. The high number of market players being headquartered in North America is another significant factor that is supporting the growth of this regional hair care market. In addition, wide focus on personal appearance & removing hair & scalp problems in the countries such as the U.S. are projected to boost hair care market size in the forthcoming years.

The global hair care market is segmented as follows:

By Product

• Hair Oils
• Colorants
• Shampoos
• Conditioners
• Hair Styling Products
• Others (hair loss treatments, hair accessories)

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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