Global Haircare Products Market - 2022-2029

Global Haircare Products Market - 2022-2029

Market Overview

The Global ""Haircare Products Market"" is expected to grow at a CAGR of 4.6% during the forecasting period (2022-2029).

Haircare is the practice of maintaining and styling hair. It includes washing, conditioning, styling the hair and maintaining its overall health and appearance. Proper haircare involves using the right products and techniques to keep the hair clean, hydrated and free from damage.

Haircare products are used to clean, condition, style and protect the hair. The products can be classified into several categories, including shampoos, conditioners, hair masks, hair oils, leave-in conditioners and styling products like gels, mousses and pomades. Haircare products are designed to address various hair concerns, such as dryness, frizz, damage and dandruff and can be formulated for different hair types, such as oily, dry or combination hair. Haircare products are available at beauty supply stores, drugstores, salons and online.

Market Dynamics

Millennials' increasing awareness of hair cleanliness and hygiene significantly impacts the demand for haircare products. It new trend fuels the demand for haircare products on the global market. Growing pollution due to an expanding population contributed to hair problems like hair loss, dryness and falls. Customer demand for haircare products is a result of these concerns. Another factor boosting the demand for hair color products is the rapidly growing elderly population. Hair colors are one of the popular categories of personal care products used frequently by older adults who are becoming more conscious of their appearance.

The market is driven by rising hair-related issues and expanding fashion industry trends. Additionally, a rise in the demand for professional products and increased salon service penetration globally are expected to boost the market in upcoming years. Additionally, it is anticipated that evolving grooming trends and technological advancements in product manufacturing will drive the market during the forecast period.

Dermocosmetics can support the growth of the haircare market by providing consumers with high-quality, effective products that address various hair concerns. For example, dermo-cosmetic haircare products are formulated to nourish and moisturize dry or damaged hair, improve the appearance of thinning hair and soothe an irritated scalp. The products can be an attractive alternative for consumers looking for effective solutions to their hair concerns.

An increase in the demand for haircare products is attributed to the popularity of products made with organic ingredients

The use of organic ingredients in haircare products has been gaining popularity recently. It trend has contributed to the growth of the haircare product market in several ways. Consumers have increased demand for natural and organic products, which has led to more haircare products made with organic ingredients. Organic ingredients are generally considered safer and more gentle on the hair and scalp. It can make these products appealing to consumers looking for more natural and nourishing options. Organic ingredients can help reduce haircare products' environmental impact, which is becoming increasingly important to many consumers.

Furthermore, the trend towards using organic ingredients in haircare products has contributed to the growth of the haircare product market by meeting consumers' demand for natural and environmentally-friendly options.

A flourishing fashion industry fuels the expansion of the global haircare products market

Fashion trends often involve changes in hairstyles and hair trends, which can drive demand for haircare products that can help create these looks. For example, if a particular hairstyle becomes popular, there could be a chance to increase in demand for haircare products that can help people achieve that look, such as styling products like gels or mousses. The fashion industry often relies on models and other public figures to showcase new trends and these individuals often have well-groomed and stylish hair. It can create demand for haircare products to help others achieve similar looks. Overall, the fashion industry can support the growth of the haircare product market by influencing consumer preferences and creating demand for products that can help people achieve fashionable hairstyles.

However, intense competition in the haircare products market, with many brands vying for market share. It can make it difficult for new entrants to break into the market, leading to price competition and margin compression. Consumer preferences can change over time, leading to shifts in demand for different types of haircare products. It can be challenging for manufacturers and distributors who may need to adapt their product offerings to meet changing consumer needs.

COVID-19 Impact Analysis

The market for haircare products has been significantly impacted by the COVID-19 pandemic. The demand for haircare products was temporarily decreased by the closure of numerous hair salons and other non-essential businesses due to the lockdowns and strict restrictions to slow the virus' spread. The pandemic-related economic downturn has also reduced consumer spending on non-essential items like haircare products.

However, the pandemic may shift consumer preferences toward at-home haircare in the longer term as people become more accustomed to styling their hair. At the same time, salons are closed or operating at reduced capacity. It could lead to increased demand for at-home haircare products, such as shampoos, conditioners and styling products. Furthermore, the impact of COVID-19 on the global haircare product market was complex and multifaceted. After the pandemic and the lockdown lifted, the demand for haircare products bolstered at an excellent pace because of the growing awareness about improved hygiene and cleanliness standards among consumers.

Segment Analysis

The global haircare products market is segmented based on product, type, distribution channel and region.

Shampoos contain moisturizer propelling the demand for shampoos which in turn supports the global haircare products market growth

A wide variety of shampoos on the market caters to different hair types and concerns, such as dryness, oily scalp, dandruff and color-treated hair. It can help to expand the market for shampoo and other haircare products and the popularity of certain hairstyles or fashion trends can drive demand for specific types of shampoo. For example, if a particular hairstyle requires a volumizing shampoo, this may increase demand for this product.

Including moisturizing ingredients in shampoo can make the product more appealing to consumers, as these ingredients can help hydrate and nourish the hair. It can increase demand for the product and contribute to the overall growth of the Haircare product market. Using moisturizing shampoo can be part of a broader Haircare routine that includes other moisturizing products, such as conditioner or leave-in conditioner. It can increase the demand for Haircare products and increase the market's growth. So, including moisturizing ingredients in shampoo can make the product more appealing to consumers and help drive demand in the global Haircare product market.

Geographical Analysis

The global haircare products market is segmented based on product, type, distribution channel and region.

Owing to offer lucrative investment opportunities for manufacturers, Asia-Pacific expected to dominate the global haircare products market

According to Invest India: Investment Promotion and Facilitation Agency, the Indian haircare market is projected to generate US$ 4.89 billion by 2025, with a healthy growth rate of 6.6%. The haircare sector accounted for US$ 2.55 billion in the year 2021. The hair oil segment, which has the largest market share in India's cosmetics industry, is responsible. Hindustan Unilever Limited, Marico, Loreal, Garnier, Henkel and other significant international and domestic players in this industry are creating profitable investment opportunities in the Indian market, which will subsequently support the growth of the Asia-Pacific haircare products market.

As per Loreal Report 2021, the global cosmetics market was estimated at more than US$ 243.13 bn. North Asia dominates with more than 35% of the total global sales and the haircare business segment includes 21.9% of the total cosmetic sales globally. Furthermore, it is evident that the increasing population turns to high consumption in Asia-Pacific is the biggest reason that Asia-Pacific dominates the global haircare products market. Furthermore, the factors mentioned above contribute to the growth of the Asia-Pacific haircare products market.

Competitive Landscape

To increase production rates and satisfy the expanding market demand, manufacturers are taking several strategic actions in the global market for haircare products. The competition in the local and global markets is very high, so the primary focus areas include product launches, collaborations, strategic mergers and acquisitions. The key players in the market are Johnson & Johnson, Procter & Gamble, L'Oreal SA, Unilever, Shiseido Company Limited, Kao Corporation, Henkel AG & Co, KGaA, Revlon Inc., Clarins Group and Beiersdorf.

Kao Corporation

Overview: Kao Corporation is a Japanese chemical and cosmetics company founded in 1940 with its headquarters in Nihonbashi-Kayabacho, Tokyo. It manufactures cosmetic and chemical products. The company’s product brand includes cosmetics, skincare and haircare, fabric and home care, human health care and chemical products. The company has ten subsidiaries across its global locations. The company operates globally in the region, including North America, Europe & Africa, Latin America, Asia & Oceania. Its product development and research include beauty care, human health care, chemicals and fabric and home care and fundamental research covers material science, life science, human science, environment science and production technology.

Product Portfolio
• Frizz Ease Miraculous Recovery Shampoo: The product is repaired within one use. Argan, coconut and moringa oils are combined to repair the appearance and feel of frizzy, dry and damaged hair for silky-smooth results. It gently cleans and aids in preventing the appearance of potential damage owing to Anti-Damage Technology. All hair types and levels of frizz can use it and color-treated hair is safe.

Key Development
• On April 22, 2021, Kao Corporation introduced the high-end hair salon brand ""ORIBE"" (23 products) in Japan through its subsidiary Kao Salon Japan. Among the best hair salons and department stores throughout Europe and US, Oribe is a well-known haircare brand. Kao hopes to expand the brand portfolio for its salon business, grow its customer base in the area and further bolster its global presence with this launch in Asia's fifth region.

Why Purchase the Report?
• To visualize the global haircare products market segmentation based on product, type, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the global haircare products market by analyzing trends and co-development.
• Excel data sheet with numerous data points of haircare products market-level with all segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players.

The global haircare products market report would provide approximately 61 tables, 62 figures and 230 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies