Hair Care Market Share, Size | Global Industry Trend Report 2018-2023
by Rahul Rastogi Market Research AnalystThe
global hair care
market has been witnessing a positive growth. This is due to rapidly
increasing R&D activities for formulation of more effective and safe hair
care products along with a rise in aging population in developed regions.
Hair
care forms one of the most important parts of the day-to-day beauty regime.
There are several products that are being manufactured in order to maintain
healthy hair. These products are made up of natural or synthetic ingredients
including agents, emulsifiers, preservatives and surfactants. Hair care
products are extensively used by individuals as well as professionals in salons
for the purpose of preventing damage, and enhancing texture and quality of
hair. A new research report titled “Hair
Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2018-2023” by IMARC Group estimates that the
market was worth US$ 85 Billion in 2017. The report further anticipates the
market to reach a value of US$ 100 Billion by 2023, at a projected CAGR of more
than 3% over the forecast period.
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Report: https://www.imarcgroup.com/request?type=report&id=898&flag=B
Global Hair Care Market Drivers/Constraints:
· The rising trend of personal care and grooming coupled with the
growth in the organised retail sector has facilitated the demand for hair care
products, particularly in developing regions.
· There has also been a rise in the aging population across
various developed nations such as the United Kingdom and the United States,
which has created a huge opportunity for the sales of hair products.
· In order to formulate more effective and safer products,
manufacturers are engaging in increasing number of activities related to
research and development which, in turn, is contributing towards the market
growth.
· However, growing concerns regarding the hair disorders which are
caused by hair styling products, gels, dyes and serums act as a key factor
which is impeding the growth of the market.
Product Type Insights:
On the
basis of type, there are a large number of hair care products available in the
market for the varying needs of the consumers. Currently, shampoo accounts for
the majority of the market share, followed by hair color, conditioner and hair
styling.
Regional Insights:
On a geographical front, North America enjoys a leading position
in the global hair care market. This is due to the increasing male
grooming and a high demand for hair treatment or scalp treatment products in
the region. Other major markets include Europe, Asia Pacific, Middle East and
Africa, and Latin America.
Competitive Landscape:
The
market is highly fragmented with the presence of numerous small and large
manufacturers who compete in terms of prices and quality. There is an intense
competition in the market which makes it difficult for small players to
survive. Some of the leading players operating in the market are:
·
Kao Corporation
·
L’Oréal
·
Procter & Gamble
·
Unilever
·
Johnson & Johnson
View Original Content: http://www.abnewswire.com/pressreleases/global-hair-care-market-catalysed-by-increasing-rd-activities_179930.html
Source: IMARC
Group
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Created on Nov 20th 2018 00:50. Viewed 381 times.