Global Professional Haircare Products Market 2017-2021
About Professional Haircare Products
Haircare products (including shampoos, conditioners, hair colorants, and hair styling products) that are offered and targeted for usage in beauty salons, spas, and by beauty professionals are considered professional haircare products. Sometimes, individuals purchase professional haircare products for their individual usage at home. Globally, haircare manufacturers segregate their professional lines from consumer lines based on their target audience.
Technavio’s analysts forecast the global professional haircare products market to grow at a CAGR of 4.37% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global professional haircare products market for 2017-2021. To calculate the market size, the report considers the retail volume and value sales of the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Professional Haircare Products Market 2017-2021
Technavio recognizes the following companies as the key players in the global professional haircare products market: Henkel, Kao Corporation, L'Oréal, Procter and Gamble, and Unilever
Other Prominent Vendors in the market are: Avon, Cadiveu Professional USA, Chatters Canada, Combe, COTY, Estée Lauder, REVLON, and Shiseido.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Evolving consumer expectations. Manufacturers, retailers, and other players in the global professional haircare products market are focused on helping the market expand by delivering products and services that suit the evolving requirements of consumers across the globe. Consumers, of late, are demanding value-added products at reasonable prices. Natural, chemical-free hair colorants, of late, dominate the professional haircare products market. Highlights, splash lights, Ombre, and somber colors dominate the market. Haircare clinics are increasingly preferred by consumers across the globe. Haircare specialists detect the specific hair type and need of a consumer before suggesting a product. Haircare consumers are willing to pay for premium products provided they offer them superior quality. A large number of consumers visit salons for haircuts, hair styling, and hair coloring.”
According to the report, one of the major drivers for this market is Product innovation and product-line extensions leading to product premiumization. The existing vendors in the market are focused on investing in innovative products and extending their product lines, which lead to product premiumization. The fact that consumers are willing to pay for premium products of superior quality motivates the existing vendors to invest in product premiumization.
Further, the report states that one of the major factors hindering the growth of this market is Similar product benefits from economically priced haircare products. Many consumers in developing economies prefer home-made oils to hair serums. The limited reach of organized retail in developing nations restricts the growth of professional haircare products in such economies.
Henkel, Kao Corporation, L'Oréal, Procter and Gamble, Unilever, Avon, Cadiveu Professional USA, Chatters Canada, Combe, COTY, Estée Lauder, REVLON, and Shiseido.
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