Hair Care Market Size, Share, Growth, Trends and Industry Revenue Report
by Susan Hill Business ConsultantThe
global hair care market is expected to reach USD 211.1
billion by 2025, according to a new report by Grand View Research, Inc. The
increasing demand for hair color products, owing to the growing aging
population base and increasing air pollution, are the major factors
contributing toward significant market growth.
Growing trend
in fashion industry and rising hair-related problems coupled with technological
innovation in product manufacturing are one of the high impact rendering
factors contributing to the demand of products and services, which thus propel
the growth of the market. In addition, high penetration of salon services
across the globe along with increasing demand for professional products, and
changing grooming pattern especially among male consumers are another drivers
accelerating the market growth.
Moreover,
the increasing migration of rural population to metropolitan areas and rising
expenditure on beauty
and personal care products are anticipated to accelerate the market
growth. Thus, resulting in the introduction of modified products sustaining the
various needs of the consumers based on different cultures, regions and hair
types.
Further Key Findings
from the Report:
- Services held
the largest market share owing to the growing popularity of hair
extensions in countries such as the UK, and the U.S., and the inclination
towards enhanced appearance coupled with growing population base.
- Shampoo held the
largest share in the product segment due to rising consumer awareness on
the benefits of organic and natural shampoo. The increasing air pollution
coupled with high adoption rate of shampoo in daily use is attributed to
the largest market share.
- Hair color is
expected to witness fastest growing product over the forecast period owing
to the changing fashion trend. The increasing penetration of national and
international salons in tier II and tier III cities in Asia Pacific, EMEA
and North America region and rising product visibility across multi-retail
outlets contribute to the fastest growth of the product.
- U.S. dominated
the hair care market owing to the presence of large multinational
companies focusing on providing superior quality hair care products such
as styling products, conditioner, color and shampoo.
- India is
expected to be the fastest growing country with a CAGR of 9.73% due to the
presence of wide range of hair oil products.
- Some of the key
players are L’Oreal, Hindustan Unilever Ltd., P&G, Kao Corporation,
Marico Limited, Aveda Corporation, Henkel
Corporation, Combe Incorporated, Johnson & Johnson, and Avon. - Most of the
companies are engaged in adopting strategies such as mergers and
acquisition, collaborations, and new product development to increase their
market share. For instance, in September 2017, L’Oréal and Natura
Cosmeticos SA signed an agreement for the sale of The Body Shop to Natura.
Access
full research report on global hair care market:
www.grandviewresearch.com/industry-analysis/hair-care-market
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Created on Nov 15th 2019 03:25. Viewed 374 times.