Global Haircare market was valued at US$87.261 billion in 2019. Haircare products are used to groom hair and get an aesthetic hairstyle while managing various hair problems such as hair fall, dandruff, frizzy hair, split ends, and dry or itchy scalp. Growing middle-class population and increasing urbanization is the major factor that is boosting the demand for haircare products. With rising awareness about personal hygiene and focus on aesthetic appeal, consumers are increasingly opting for different haircare products. The rising level of air pollution and the increasing temperature is also harming the quality of hair which is also encouraging people to use haircare products so as to protect them from the harmful impact of these environmental factors.
People nowadays are more concerned about hair aesthetics which has also led to a rise in the number of consumers opting for hairstyle chemical treatments including dyeing and straightening. Since chemically-treated hair requires premium hair care products to maintain the health and texture of hair, the demand for premium haircare products is increasing significantly, thereby fuelling the overall haircare market growth. Rising use of social media is also encouraging consumers to explore various global haircare brands, thereby spurring the global haircare market growth. Continuous expansion of distribution channels such as online stores, specialty stores, and salons are also contributing to the global market growth of haircare as this has made many professional hair care products easily accessible to consumers. People are becoming more aware of the harmful impacts of several chemicals on the quality of their hair and scalp which is driving the demand for haircare products with natural and organic ingredients. This is providing a great opportunity for market players to add haircare products made with naturally-derived ingredients into their portfolio and create a mass customer base.
Market players are adopting various growth strategies including product launch, partnerships and collaborations, expansion of distribution channels, and acquisitions in order to maintain their market share or/and further expanding their customer base, thus bolstering the global hair care market growth throughout the forecast period.
The Global Haircare market has been segmented on the basis of product, application, end-user, sales channel, and geography. By product, the global haircare market has been segmented as shampoo and conditioner, hair color, hair oil, hair mask, and others. By application, the market has been segmented as household and professional. The market has further been segmented by end-user as men and women. The global haircare market has been also segmented by sales channel as online and offline.
Booming e-commerce industry leading to the growth of the online segment
By the sales channel, the online segment will witness a higher CAGR during the forecast period. With the growing working female population, the demand for convenient and time-saving shopping via online stores is boosting the growth of this segment. Furthermore, online stores allow customers to purchase international haircare products easily and at discounted rates as well. As such, many haircare manufacturers have started their own web portals for selling various haircare products.
Asia Pacific to witness the noteworthy CAGR during the projected period
Geographically, the global Haircare market has been segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Asia Pacific regional market for haircare is poised to grow at a substantial CAGR during the forecast period. Rising awareness about various haircare products in countries like China, India, and Australia coupled with the presence of major market players in the region is boosting the demand for haircare products across APAC countries. Increasing disposable incomes and living standards is also augmenting the demand for premium haircare products. The booming e-commerce industry is also supporting the rising sales of international haircare products, thus positively impacting the regional market growth. North America and Europe also hold significant market share owing to the high demand for professional haircare services in these regions.
Prominent key market players in the Global Haircare market include Unilever, Henkel AG & Co. KGaA, Procter & Gamble, Kao Corporation, L’OREAL GROUP, VEDA CORP., Amway, Johnson & Johnson Services, Inc., Marico, andShiseido Co., Ltd. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Global Haircaremarket have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.