Global Hair Gel Market 2023

Global Hair Gel Market 2023

Description
The global hair gel market exhibits steady growth prospects, projected to rise from USD 2.19 billion in 2022 to USD 2.55 billion by 2029, reflecting a CAGR of 2.1% during the forecast period. Hair gel, an integral hair styling product, is witnessing high worldwide demand driven by strong interest in maintaining specific hairstyles and looks. The market presents opportunities for manufacturers to innovate through different formulations, fragrances, packaging and positioning.

Advanced digital technologies including smartphones, internet, e-commerce and social media have transformed marketing and promotions. Influencer marketing on Instagram, YouTube etc. has gained popularity as an effective way for brands to introduce new products and engage consumers, especially millennials. India's high internet usage offers potential for online advertising including leveraging social media.

Leading brands like L'Oreal, Unilever and P&G actively utilize these platforms. Mature markets like Europe and North America dominate the hair gel landscape, buoyed by a strong grooming culture and the desire to sport stylish, attractive looks particularly among younger demographics. However, emerging economies offer untapped growth potential as incomes rise and beauty consciousness increases.

Market Segmentation
The market is segmented based on various factors, including category, packaging, distribution channel, and geography.

Segmentation by Packaging
Tubes
Jars

Segmentation by Category
Synthetic
Free-from (Natural, Organic, and Vegan)

Segmentation by Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores/Grocery Stores
Specialist Stores
eCommerce
Others

Segmentation by Geography
North America - United States, Canada, Mexico, and Rest of North America
Europe - United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific - China, Japan, India, Australia, and Rest of Asia-Pacific
Latin America - Brazil, Argentina, and Rest of Latin America
Middle East and Africa - Saudi Arabia, South Africa, and Rest of Middle East and Africa

Key players in the fiercely competitive hair gel market include Loreal SA, Unilever PLC, Henkel AG & Co. KG Aa, and Mandom Corporation. These major players maintain their positions through strategies like product innovation, expansion, and mergers. Research and development (R&D) and marketing investments are increasing, along with the expansion of distribution channels. Sustainable and eco-friendly options with natural and organic ingredients are meeting the growing demand. Tube packaging, especially in travel kits, is popular due to accessibility and convenience. Airless tubes minimize product exposure to air. Transparent and translucent tubes showcase product attributes. Synthetic hair gels are widely available online and offline, enhancing appearance and aiding in hairstyling. Supermarkets and hypermarkets are primary sales channels, offering discounts and accessibility. Consumers seek clean-label options without harmful components, favoring organic and natural hair gel products. Clean-label ingredients are now crucial in purchasing decisions.

The hair gel market in Europe has grown due to increased hair care as part of individuals' well-being routines. Fashion trends and new product launches also contribute to its popularity. The demand for hair gel with hair repair treatments has increased as consumers often damage their hair with artificial colors and dyes. The strong retail infrastructure in the region and consumers' regular hair care routines further contribute to market growth. The simplicity of using hair gel has made it popular among consumers, and producers are expected to continue supplying these items across Europe to meet the demand from beauty-conscious consumers seeking effective hair styling products.

Competitive Landscape
The global hair gel market is highly competitive, with players like Beautyge Brands USA Inc., Henkel AG & Co. KGaA, Himalaya Wellness Company, Johnny B. Hair Care, L'oréal S.A., Mandom Corporation, Marico Limited, Slick Organics Private Limited, The Estee Lauder Companies Inc., Unilever PLC, Wella International Operations Switzerland S.a.r.l. dominating the market. These key players employ strategies such as product innovation, expansion, mergers, and acquisitions to maintain their market position. To succeed in this competitive landscape, companies are increasing their investments in research and development (R&D), intensifying marketing activities, and expanding distribution channels. A major focus for these companies is product innovation, with a strong emphasis on incorporating natural and organic ingredients to meet the growing demand for sustainable and eco-friendly products.

Recent Industry Developments
L'Oréal Group partnered with Lazada, a Southeast Asian e-commerce platform, in September 2022 to reduce plastic packaging in product delivery.

Mandom Corporation introduced an innovative oil gel skincare product in October 2021, offering a non-sticky and smooth sensation.

In September 2021, L'Oréal Group developed a new hair styling formulation based on sugar compounds and plant fiber, providing a natural and lightweight alternative to polymer and silicone-based products.

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