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.

Market Insight

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 treatments.

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.

Segment Covered

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.

Companies Profiled:

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.

Report Highlights:

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.