Hair care Market- Trends, Demand, Growth, Value & Analysis Report by Zion Market Research

SUITE N202, NEW YORK, UNITED STATES, January 19, 2023 /EINPresswire.com/ -- The global hair care market was worth around USD 75,892.5 million in 2021 and is estimated to grow to about USD 103459.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.3 percent over the forecast period. The report analyzes the hair care market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hair care markets.

Hair care products are crucial in maintaining good hair health which is a major part of our appearance. Increasing focus on appearance and aesthetics has bolstered the demand for personal care and this trend is driving the demand for hair care products as well. Moreover, increasing the availability of hair care products will also favour market potential.

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Hair care products will also see a rise in sales as per capita disposable income increases on a global scale and most of the demand will be driven by emerging economies. Nations of India, China, and Brazil are expected to be the most lucrative markets as they have a high population and are seeing an increase in demand for personal care products.

However, the lack of sensitive products for sensitive hair and scalp are expected to have a restraining effect on the global hair care marketplace. Hair care companies are investing in research and development of products that are more sensitive friendly and can be used for all hair types without issues.

Hair care companies have the opportunity of capitalizing on the sustainability trend and developing new products that are eco-friendly and made from natural elements as people are increasing their demand for such products. Rising awareness about the benefits of natural products will also boost demand for organic and natural based hair care products over the forecast period.

Global Hair care Market

The pandemic of 2020 had a major adverse impact on the global hair care marketplace as it did for most markets as well. The global sales of hair care products saw a drop as lockdown restrictions were imposed in multiple nations in the world to curb the spread of infections. The closure of multiple sales channels in these restrictions led to a downfall of the hair care market potential in 2020.

The hair care market is expected to make a steady recovery in the post-pandemic era and we are expecting to see good growth in demand over the forecast period as well. Increasing spending potential from emerging economies will lead the growth charge as hair care companies explore untapped potential in new markets.

The global hair care market is segregated based on product type, distribution channel, and region. Based on distribution channels, the global market is distinguished into Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, Online Retailers, and Others. The supermarkets and hypermarkets segment will own a major market share in the global hair care landscape. The increasing popularity of e-commerce is expected to hamper growth to a certain extent but will boost sales via online channels.

The Europe region is expected to be the most lucrative market for hair care products owing to rising beauty awareness in this region. Other factors such as increasing spending potential, rising disposable income, presence of key hair care companies, and increasing availability of hair care products are also expected to favor hair care market growth in this region over the forecast period. The nations of Germany, France, and the United Kingdom are expected to be the major markets in this region. Increasing beauty consciousness among men will also shape the hair care market potential in this region.

Key players functioning in the global hair care market include KAO Group, L’Oréal USA, Inc., The Procter & Gamble (P&G) Company, Unilever PLC, and Johnson & Johnson, Inc.

Recent developments:

In September 2018, Marico Ltd. an Indian multinational consumer goods organization announced the launch of its new hair care product range. This included a new hair tonic called True Roots which is a botanical solution for people dealing with greying hair and delaying the process. It is expected to be popular among youngsters who face premature aging.

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Global hair care market is segmented as follows:

By Product Type

Shampoo
Hair Color
Conditioner
Hair Styling Products
Others
By a Distribution channel

Supermarkets and Hypermarkets
Specialty Stores
Convenience Stores
Online Retailers
Others
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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