NEW YORK, Sept. 23, 2024 /PRNewswire/ — According to a report by Technavio on the impact of AI on market trends, the global hair care products market size is expected to grow by USD 15.29 billion from 2024 to 2028. The market is expected to grow at a CAGR of 3.2% during the forecast period. Rising hair-related issues are driving the market growth, which is driving the demand for natural and organic hair products. However, the availability of counterfeit products poses a challenge. Key market players include Amway Corp., Colgate Palmolive Co., Coty Inc., Flora and Curl Ltd., Godrej Consumer Products Ltd., Henkel AG and Co. KGaA, John Paul Mitchell Systems, Johnson and Johnson Services Inc., Kao Corp., LOreal SA, NATULIQUE Ltd., Natura and Co Holding SA, OUAI Hair Care, Pai Shau Inc., Revlon Inc., Shiseido, ST. TROPICA Inc., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC.
Technavio has released its latest market research report, “Global Hair Care Products Market 2024-2028”.
Key insights into market evolution with AI-powered analytics. Explore trends, segmentation, and growth drivers – View a snapshot of this report
Hair Care Products Market Scope
Report Scope
detail
Base year
2023
Historical period
2018 – 2022
Forecast Period
2024-2028
Growth momentum and CAGR
Accelerating at an average annual growth rate of 3.2%
Market Growth 2024-2028
US$15,290.3 million
Market Structure
Fragmented
2022-2023 YoY growth rate (%)
3.06
Regional Analysis
Europe, Asia Pacific, North America, South America, Middle East and Africa
Contributing to the market
Asia Pacific 44%
Major countries
USA, China, Germany, UK, Canada
Introduction of major companies
Amway, Colgate-Pamolive, Coty, Flora & Curl, Godrej Consumer Products, Henkel, John Paul Mitchell Systems, Johnson & Johnson Services, Kao Corporation, L’Oreal, Natulik, Natura & Co. Holdings, OUAI Haircare, Pai Shau, Revlon, Shiseido, St. Tropica, The Estée Lauder, Procter & Gamble, Unilever
Market Drivers
Increasing awareness of hair and skin problems caused by synthetic hair care products has led to an increased demand for natural and organic alternatives. These problems include skin irritation, allergies, nerve damage, chemical burns, blisters, hair breakage, and some cancers. Organic hair care products made from natural and organic ingredients such as botanical extracts, natural oils, aloe vera, sea salt, charcoal, coconut oil, argan oil, and moringa oil offer a solution. Manufacturers are expanding their product lines to meet this trend and differentiate their products. Free from harmful ingredients such as petrochemicals, sulfates, and ammonia, organic hair styling products adhere to high purity standards set by various regulatory bodies. This growing preference for natural and organic hair care is expected to expand the global hair care products market during the forecast period.
The hair care products market is booming around hair care essentials in various forms such as shampoos, conditioners, oils, serums, liquids, gels, creams, and lotions. Trends include hair nutrients for dry and oily hair, damaged scalps, color-treated hair, curly hair, and botanical keratin products. Consumers prefer options that are cruelty-free and chemical-free, made from plant-based materials. Salons and hair care facilities offer hair color services and hair styling products such as barber tools, herbal products, and Aveda Corp. products. Long hair is in fashion, but concerns remain such as hair loss, gray hair, dandruff, and allergic reactions. Toxic chemicals such as parabens, sodium lauryl sulfate, and phthalates are being replaced. Brands such as Straand cater to specific needs. Distribution channels include supermarkets, specialty stores, online stores, and convenience stores. Hair styling products such as perms and relaxers, hair colorants, hair styling gels, and hairsprays shape the market.
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Market Challenges
The hair products market has seen significant growth due to the increasing demand for hair care and styling solutions. However, this market trend has led to an influx of counterfeit hair products, posing a threat to consumers’ hair health and the reputations of legitimate sellers. Made from low-quality raw materials, these counterfeit products contain harmful chemicals such as ammonia, peroxide, p-phenylenediamine, diaminobenzene, toluene-2,5-diamine, and resorcinol. Exposure to these chemicals can lead to a variety of hair and skin problems, including irritation, allergies, hair damage, and even cancer. The rise of e-commerce has facilitated the sale of counterfeit hair products, making them difficult for consumers to distinguish from the real thing. The low prices of counterfeit products attract customers, putting pressure on sellers around the world to match prices and reduce profit margins. Despite the difficulties, sellers are investing in promotional campaigns to build brand loyalty and protect their market share. Although producers of counterfeit products can save on production and transportation costs and offer lower prices, this remains a major obstacle for legitimate sellers in the hair products market. The hair products market faces several challenges in 2023. Consumers are increasingly turning to herbs and essential oils for natural hair care solutions. Luxury products such as dermatological anti-dandruff shampoos are in demand to address issues such as dull and brittle hair. However, the use of chemicals such as aluminum compounds in some hair care products has raised concerns. Natural products such as organic hair oils such as ginseng oil and rosemary leaf extract are gaining popularity for their scent and active ingredients. Certified organic and naturally inspired ingredients are preferred over harmful substances. Culture and ethnicity influence consumer preferences, with shampoo, conditioner and hair oil segments showing growth. While store-based distribution channels dominate, the spa industry also plays an important role. Air pollution is also a challenge, necessitating innovative hair care solutions. The market is evolving, with an emphasis on premium botanical ingredients and sustainable practices. Understanding these trends and consumer preferences is essential for companies to succeed in the hair care products market.
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Segment Overview
This Hair Care Products Market report covers market segmentation extensively.
Distribution Channels Product 2.1 Hair Care Products 2.2 Hair Styling Products Region 3.1 Europe 3.2 Asia Pacific 3.3 North America 3.4 South America 3.5 Middle East and Africa
1.1 Offline – The hair care products market is a significant segment with various companies offering shampoos, conditioners, styling products and tools. Brands cater to various consumer needs such as volume, anti-dandruff, color protection, smoothing, etc. Consumers prioritize factors such as affordability, effectiveness and brand reputation when making a purchase. Companies invest in research and development to launch innovative products and retain market share. Competition is intense and requires strategic marketing and distribution strategies.
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Research Analysis
The hair care products market contains a wide range of products designed to address various hair concerns and enhance styling. These include shampoos, conditioners, oils, serums, gels, creams, lotions, and hair loss remedies. Hair care products address both daily use and specific hair issues such as damage, dryness, and color treatments. Shampoos and conditioners are essential staples, while oils, serums, and creams add nourishment to hair. Hair styling products such as gels, waxes, and mousses offer versatility for different styles. Hair loss remedies and hair colorants address specific concerns, while perm and relaxer solutions provide permanent or temporary hair changes. Convenience stores, pharmacies, and drug stores carry a wide range of hair care products. Consumers are increasingly turning to organic and natural alternatives that are free of chemicals such as parabens and aluminum compounds. Brands are responding with products that contain fragrances, active chemicals, and natural or plant-inspired ingredients to capture the interest of those who want premium botanical ingredients in their hair care routine.
Market Research Overview
The hair care products market has a wide range of products, including shampoos, conditioners, oils, serums, gels, creams, and lotions. These products cater to a variety of hair types and concerns, including dry hair, oily hair, damaged scalp, color-treated hair, and curly hair. Some hair care products are made with vegan keratin, cruelty-free, and chemical-free ingredients, while others contain toxic chemicals such as parabens, sodium lauryl sulfate, and phthalates. As long hair continues to grow in popularity, hair care stores and salons offer professional hair color services. However, hair loss, gray hair, dandruff, and hair fall are common problems faced by many. Herbal products, fruit extracts, and essential oils are becoming increasingly popular due to their natural efficacy. The millennial generation and changing lifestyle patterns have led to an increase in the demand for premium, plant-based, and high-end botanical ingredients. Distribution channels for hair care products include supermarkets, specialty stores, online stores, pharmacies, drug stores, and convenience stores. Hair styling products such as gels, hairsprays, perms and relaxers are also popular. Be aware that some chemicals and synthetic ingredients, such as aluminum compounds and parabens, can cause allergic reactions and other health concerns. Dermatological anti-dandruff shampoos and organic products are alternatives for those with sensitive scalps or who prefer natural ingredients. Overall, the hair care market is diverse and constantly evolving to meet the changing needs and preferences of consumers.
table of contents:
1. Overview
2. Market situation
3. Market size assessment
4. Past market size
Five Forces Analysis
6. Market Segmentation
Distribution Channels Products Hair care products Hair styling products Region Europe Asia Pacific North America South America Middle East and Africa
7 Customer Environment
8. Geographical Landscape
9 Drivers, Challenges, and Trends
10. Company Status
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Its research and analysis focuses on emerging market trends, providing actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market position.
With over 500 expert analysts, Technavio’s report library contains over 17,000 reports covering 800 technologies across 50 countries. The company’s client base comprises businesses of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify existing and potential market opportunities, and evaluate their competitive position within a changing market scenario.
contact address
Technavio Research
Jesse Maida
Media & Marketing Executive
USA: +1 844 364 1100
UK: +44 203 893 3200
Email: (email protected)
Website: www.technavio.com/
Source Technavio
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