Global Professional Haircare Product Market - 2021-2028

Global Professional Haircare Product Market - 2021-2028

Market Overview

Professional haircare products are generally included in the category of personal care and cosmetics products. These products are used to groom hair and get an aesthetic hairstyle. Moreover, various professional haircare products are utilized to handle various hair problems including hair fall, dandruff, frizzy hair, split ends, and itchy or dry scalp by nurturing the scalp & hair. Professional haircare products consist of a broad range of products such as shampoo, hair colorants, hair conditioner & hair wax, hair gel, perming products & straightening, and others. Furthermore, these products are existing in several forms to fulfill different customer requirements. Volumizing shampoo, colored hair shampoo, oily hair shampoo, are the few options of shampoos that are made to provide solutions for several hair problems. The global professional haircare product market is valued at USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX% within the projected years (2021-2028)

Market Dynamics: Rising demand for dyeing, straightening, hair styling, and many other treatments of hair is expected to drive the market growth

Rising demand for dyeing, straightening, hair styling, and many other treatments of hair along with increasing concern regarding aesthetics of the scalp nourishment and hair is estimated to drive the global professional haircare products market. Moreover, the rapidly developing and growing professional haircare market is also expected to propel the growth of the global professional healthcare product market during the forecast period. Additionally, increasing adoption of professional haircare products among the urban population and millennials, the rise in disposable income, increasing population base, and growing problems owing to air and water pollution is expected to propel the global professional haircare products market.

Market Segmentation: Salons distribution channel, dominated the professional haircare products market

By distribution channel, the salons dominated the global professional haircare product market in 2020 and are estimated to be the dominating segment over the forecast period. This is owing to the adoption of salons for taking care of hair. Moreover, increasing the pre-purchase advice from hairdressers due to their deep understanding of product expertise and compatibility in the field of haircare enlarges the growth for professional haircare products from salons. The online segment is expected to exhibit lucrative growth across the globe. Over the past few years, there has been substantial growth in internet penetration particularly in Europe, North America, and Asia-Pacific. Online shopping is considered the most convenient factor and buyers now depend on the internet to obtain information and. Hence, several leading players have chosen online marketing and selling and have made their own web portals. Hence, an increase in internet penetration also creates a new opportunity for professional haircare product market growth.

Geographical Penetration: North America is the largest market for professional haircare products with a share of nearly XX% in global sales value in 2020

By geography, North America accounted for the largest share in 2020 and is anticipated to be the dominating regional market within the projected year due to increasing innovations and R&D to invent new professional haircare products including dry shampoo, dry hair styling products, dye protecting agents, and professional smoothing conditioner along with increasing utilization and application of haircare product are expected to enlarge the demand for professional haircare products in the region. Asia Pacific is estimated to hold the second-largest share global professional haircare product market in 2020 and is expected to grow at a CAGR of XX% owing to the changing customer buying patterns and rising spending on personal care products and increasing disposable income in countries including China, Japan and India are expected to propel the growth of the market in this region.

Competitive Landscape:

The global professional haircare product market is highly competitive with the presence of many global and local players. Some of the major players of the market include L’oreal Group, Estee Lauder Companies Inc., Henkel AG & Co., Procter & Gamble Co., and Unilever Group, among others. They have strengthened the market through their product offerings. Continuous innovation to introduce new products is the key competitive factor in the market. For instance, in June 2021, L'Oréal announced the acquisition of Modiface and all of La Roche-Posay parent companies, Societe des thermes de la Roche-Posay.

COVID-19 Impact: The market witnessed a negative impact

During the pandemic, there was a decrease in the haircare business across the globe owing to the lockdown imposed in many countries. The entire world is facing the effects of the COVID-19 pandemic in various sectors and industries. People are chosen to stay at home for a few months to control the further spread of corona and prefer to use conventional methods for haircare. Due to the strict regulation and guidelines imposed by various countries’ governments for salons, the market witnessed negative impact. Most of the salons were closed for a few months. For instance, the data issused by Kantar in March 2020 reports that hair care experienced a slowdown in its growth in 2020.

Why Purchase the Report?
Understand the current market scenario and viability of global professional haircare product over the forecast period
Visualize the composition of the global professional haircare product market in terms of product type and distribution channel to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining to the market

What we offer?
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global Professional haircare product market Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:
Personal Care Industry
Haircare Products Manufacturers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals