A recent report published by
Infinium Global Research on the hair care market provides an in-depth analysis of
segments and sub-segments in the global as well as regional hair care market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional hair care market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecasts, and dollar values of the global hair care market. According to the report,
the global hair care market is projected to grow at a CAGR of nearly 6% over
the forecast period of 2022-2028.
The revenue generated by the
market was about USD 83 billion in 2022 and is expected to reach around USD 118
in 2028 and is expected to grow with a CAGR of nearly 6% over the forecast
period 2022-2028. The hair care industry thrives on new trends, with several of
these born on social media. While these brands jump on these fads, recent
trends such as the ‘skinification’ of hair care are focused on the long-term
health of hair as scalp health is growing as a concern for numerous people. In
anticipation, brands have been hybridizing skincare technology and hair care.
It's all about connecting hair care and skin care routines, whether it's the micellar shampoo to purify hair or overnight serums to repair and protect. As a
result, there’s been an increased investment in luxury conditioners and at-home
An increase in disposable income
and changeability in hairstyle trends are the major driving factors for the
global hair care market. The profession of beauty services was geared up on
commercial lines in the late nineteenth century. Their popularity was aided by
the development of technological innovations that created new demands for
hairstyles. One of the main reasons for the popularity of the beauty services
industry is the rising disposable income, changing lifestyles, and the rapidly
growing social media and entertainment industry. In an age where looking and
feeling beautiful is given prime importance, the beauty service industry is
growing steadily, although at a slow pace. The beauty services industry,
largely unorganized, is steadily taking the organized route through
franchising. With significant growth in the disposable income of the urban
class, developing countries have witnessed an increase in the general standard
of living. Alongside this, the acceptance level of the importance of grooming
and wellness has increased as well. Consumers are now on a quest for a holistic
and harmonious state of life, which has led to the mushrooming of various
industries. The beauty and hair care industry is one such sector that has been
on an uptrend.
The global market is segmented
into North America, Asia-Pacific, Europe, and the RoW region. Among the
geographies, the North America region dominates the hair care market. The U.S.
is the largest consumer of hair care in North America. The United States
haircare market has witnessed several changes over the past decade, with the
emergence of various hairstyling, hair regrowth, and hair colorant products.
Also, due to new advancements in hair care segments like shampoos,
conditioners, colorants, relaxants, perms, sprays, etc. Asia-Pacific is the
fastest-growing region in the global hair care market. China is the largest
consumer of hair care products as it holds approximately a 10% market share of
the global hair care market. More than 88% of salons in China are operating in
the unorganized sector. According to estimates, more than 4,000 enterprises are
qualified to produce cosmetics in China, of which some 1,800 are located in
Guangdong. The Indian hair care market is projected to record the fastest
growth rate in the Asia-Pacific region due to the changing consumer dynamics
coupled with increasing product awareness.
The report on the global hair care
market covers segments such as product type, and distribution channel. On the
basis of product type, the sub-markets include shampoo, conditioner, hair
color, hair oil, hair creams and masks, hair accessories, hair styling product,
and others. On the basis of distribution channel, the sub-markets include
hypermarket, e-commerce, pharmacy, specialty store, and others.
The report provides profiles of
the companies in the market such as Johnson & Johnson, Procter &
Gamble, Unilever Plc, L'oreal Group, Avon Products Inc., Revlon Inc., Kao
Corporation, Church & Dwight Co Inc., Amway, and Henkel Corporation.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the hair care market. Moreover, the study highlights current market
trends and provides forecast from 2022-2028. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.