Hair Care Products Market Statistics | Cost Analysis with Key Company’s Profiles 2024
The changing lifestyles of customers and the emphasis on outward appearances have led to the need for personal care products. Hair care products are one of these, with the formulations designed to treat different types of hair and scalp areas. The global Hair Care Products Market Statistics report by Market Research Future (MRFR) touches on various products, changing needs of customers, and strategies to be undertaken by players to sustain their hold for the period of 2019 to 2024 (forecast period).
The global hair care products market is poised for tremendous growth during the forecast period owing to urbanization and the migration of customers to urban locales for employment. Pollution levels, change in weather patterns, and hectic lifestyles have evoked the need for different types of hair. The annual change in fashion trends and the growing aging populace are other major drivers which can expand the market size to a great extent.
The large number of barber shops and hair salons are evidence of the large potential of hair care products. Offerings of these products by luxury hotel rooms and hotel aggregators for a personalized customer experience can bode well for the global hair care products market. Launch of organic and natural hair care products and its sales on ecommerce portals will encourage innovation in the market.
Also Read : https://www.marketwatch.com/press-release/hair-care-products-market-research-study-global-demand-business-growth-related-news-covid-19-pandemic-impact-product-category-sales-and-production-by-forecast-to-2024-2020-09-11
The global hair care products market has been segmented based on type and distribution channel.
By type, the global hair care products market has been segmented into hair oil, shampoo, conditioner, and others. The shampoo segment is expected to hold the majority market share and register the highest CAGR during the review period.
Two major distribution channels are discussed in the market, namely store-based and non-store-based. The store-based segment is further segmented into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is expected to account for the larger revenue share of the market. However, the non-store-based segment is expected to exhibit a high growth rate during the forecast period.
The global hair care products market has been segmented into four key regions, namely, North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC can dominate the market till 2024 owing to the launch of innovative hair products for specific segments and hair problems. Launch of various products with aromas similar to local smells and initiatives by various hair care manufacturers can drive the global market growth. India is expected to generate maximum revenue owing to the number of women joining the workforce and inclination of men towards these products.
North America may score a starkingly high growth rate during the assessment period due to increased consumer spending on hair products and large disposable income levels of customers. The large demand of hair care products from men is expected to lead to more dedicated formulations targeting the gender. The growth of metrosexuals and awareness of various hair treatments can drive the regional market growth. Furthermore, subscriptions to salons and at-home services can be lucrative opportunities for hair care product manufacturers.
Forest Essentials, Church & Dwight Co., Inc., Henkel AG & Company, KGaA, VLCC Healthcare Limited, Kao Corporation, Shiseido Company, Limited, Unilever PLC, Vogue International LLC, Kimberly-Clark Corporation, L'Oréal S.A., The Procter & Gamble Company, BBLUNT, Johnson & Johnson Services, Inc, Natura International B.V., and Beiersdorf AG are prominent names in the global hair care products market.
Manufacturers are expanding their portfolio by targeting customers by race, hair type, and hair problems. This include increasing the volume of products by launching it in spray formats, protective serums, and organic products.
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