Global Hair Care Market Overview, 2023-28

Global Hair Care Market Overview, 2023-28

Hair care products are primarily used to remove dirt, dandruff, and oil from the scalp and hair, as well as to repair damaged hair and regulate moisture levels. In most cases, hair care products are created by combining a surfactant such as sodium lauryl sulphate or sodium Laureth sulphate with a co-surfactant such as Cocamidopropyl betaine in water. Furthermore, increasing hair and scalp problems, large marketing campaigns for hair care products, rising popularity of herbal hair care products, technological innovations in product manufacturing, rising disposable income, and increased spending on hair care are some of the key factors driving the global hair care products market's growth. Furthermore, attractive packaging, increased consumer awareness of hair care, and a shift towards hair care and styling products are driving the hair care market. However, high costs and economic slowdowns are some of the major factors restraining the growth of the global hair care products market. In addition, Sustainability has been a popular trend across all industry verticals, and it is expected to continue in the hair care market. As consumer awareness about the harmful effects of chemicals grows, more people are opting for organic and natural products, and hair care companies are focusing on launching these new products to meet consumer demand.

According to the research report, ""Global Hair Care Market Overview, 2023–28,"" published by Bonafide Research, the market was valued at USD 87.67 billion, which is expected to cross USD 122.15 billion by the end of the forecast period. The market is anticipated to grow at 5.79% CAGR by 2023–28. The Increased hair-related problems and fashion industry trends are expected to drive the market in the coming years. Furthermore, increased global penetration of salon services and an increase in demand for professional products are expected to boost the market in the coming years. Furthermore, changing grooming habits and technological advancements in product manufacturing are expected to fuel the market during the forecasted years. The growing trend of having colored hair among the youth population is expected to fuel demand for dyes and colours, particularly among females. Furthermore, the growing trend of men having long hair and using multiple hairstyles has resulted in an increase in the consumption of hair styling products. This is expected to contribute to the growth of the global hair care market during the forecast period. Furthermore, the growing penetration of e-commerce and the increased emphasis on hair styling in developing countries provide opportunities for market growth. In addition, Social media influencers and celebrities often promote premium hair styling products, leading to increased demand among consumers who want to achieve the same looks.

Based on region, Consumers in Asia-Pacific are increasingly seeking out hair care products that can provide multiple benefits, such as shampoo and conditioner in one product. Furthermore, scalp detox and hair growth treatments are becoming more popular in Asia Pacific, with consumers seeking out products and services that can help promote scalp health and hair growth. Moreover, K-beauty, or Korean beauty, is becoming more popular in the hair care industry, with consumers seeking out Korean hair care products and routines that can help improve hair health and appearance. In addition, consumers in Europe are increasingly concerned about scalp health, leading to a rise in the popularity of scalp care products and treatments that can help address issues such as dandruff and hair loss. Furthermore, plant-based and vegan ingredients are becoming more popular in hair care products, with consumers seeking out products that are free from animal-derived ingredients and are environmentally friendly. In addition, hair supplements are becoming more popular in North America, with consumers seeking out products that can promote hair growth, thickness, and health.

Based on the product, the market is segmented into such as shampoo, hair care, conditioner, hair styling product, hair oil and others. Shampoo is expected to have a large market share of 35.77% due to its various hair enrichment contents, which include vitamins, botanical extracts, minerals, oils, and others that help stimulate the hair from the scalp follicles. Furthermore, the frequent use of shampoo by many consumers is expected to boost segment demand. The hair colour segment had the highest CAGR during the forecast period. The increasing adoption of hair colour among millennials as a result of grey hair and the trend of changing hair colours are fueling the growth of this segment. Furthermore, the growing geriatric population and growing concerns about one's future are expected to drive up sales of hair colour products. Hair colour, on the other hand, causes dryness. The use of hair conditioner on a regular basis protects the hair and keeps the colour for a longer period of time. This is expected to drive demand for conditioners by the end of the forecast period. In addition, Consumers are becoming more conscious about the ingredients used in hair care products, and there is a growing trend towards natural and organic ingredients in hair conditioners. Ingredients like shea butter, coconut oil, and aloe vera are popular choices for their moisturizing and nourishing properties. Furthermore, Leave-in conditioners are often formulated with multiple benefits such as detangling, heat protection, and styling properties. This makes them a popular choice for consumers who are looking for a single product that can address multiple hair concerns.

• Pantene Miracle Rescue 3 Minute Miracle Daily Conditioner: This product is designed to provide instant hydration and repair for damaged hair in just three minutes. It contains Pro-Vitamin B5 and lipids that help to restore the hair's natural moisture balance.
• Moroccanoil Color Depositing Masks: These masks are available in seven different shades and are designed to enhance and refresh hair color while providing deep conditioning. They are formulated with argan oil and other nourishing ingredients to leave hair soft and shiny.
• SheaMoisture Jamaican Black Castor Oil Strengthen & Restore Leave-In Conditioner: This leave-in conditioner is formulated with Jamaican Black Castor Oil, shea butter, and peppermint oil to nourish and strengthen damaged hair. It also helps to detangle hair and promote healthy hair growth.
• Aveda Botanical Repair Strengthening Shampoo and Conditioner: This range is formulated with plant-based ingredients that strengthen and repair damaged hair. It contains a blend of macadamia oil, avocado oil, and green tea extract to provide nourishment and protection for hair.

Major Companies present in the market:
Hindustan Unilever Limited, Godrej Group, Marico Limited, Procter & Gamble Corporation, CavinKare Group, L'Oreal SA, Natura&Co, Shiseido Company, Amway Corporation, Henkel AG & CO. KGaA.

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Hair Care market with its value and forecast along with its segments
• Region-wise Hair Care market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report:
• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa

By Product Type
• Shampoo
• Hair Color
• Conditioner
• Hair Styling Product
• Hair Oil
• Others (Hair Mask)

By Shampoo
• Cosmetic Shampoo
• Herbal/Organic
• Dry Shampoo
• Others

By Hair Color
• Permanent
• Temporary

By Conditioner
• Rinse-Out
• Leave-in
• Others (Deep)

By Styling Product
• Hair Gel
• Hair Mousse
• Hair Spray
• Styling Creams and Waxes
• Others

By Price Range
• Mass
• Premium

By Distribution Channel
• Specialist Retail Stores
• Supermarket/Hypermarket
• Convenience Store
• Online Retail Channels
• Other Distribution

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Hair Care industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.