Hair Loss Treatment Products Market Assessment, By Product Type [Shampoo, Conditioner, Oil, Serums, Supplements and Vitamins, Others], By Source [Organic, Conventional], By Application [Personal, Commercial], By Price [Mass, Premium, Luxury], By Category

Hair Loss Treatment Products Market Assessment, By Product Type [Shampoo, Conditioner, Oil, Serums, Supplements and Vitamins, Others], By Source [Organic, Conventional], By Application [Personal, Commercial], By Price [Mass, Premium, Luxury], By Category [Private Label, Branded], By End-user [Men, Women, Kids], By Distribution Channel [Online, Offline], By Region, Opportunities and Forecast, 2017-2031

Global hair loss treatment products market is projected to witness a CAGR of 6.28% during the forecast period 2024-2031, growing from USD 5.21 billion in 2023 to USD 8.48 billion in 2031. The market is primarily driven by the aging population, which increases the number of individuals experiencing hair thinning and loss. The heightened stress levels and lifestyle changes are the contributing factors, as they often impact hair loss conditions. The growing awareness about personal grooming and the psychological impact of hair loss are significant drivers, leading people to seek effective treatment solutions. Furthermore, the availability of over-the-counter and prescription treatments, along with the increasing demand for natural and organic products, is propelling the market growth. The rising popularity of hair transplants and other advanced medical treatments is further boosting the market as more consumers opt for these solutions.

For instance, in June 2023, Pfizer Inc. announced that the United States Food and Drug Administration (FDA) has approved LITFULO (ritlecitinib) a treatment drug for catering alopecia aerate in individuals of age 12 years and above.

Technological advancements in treatment methods, such as low-level laser therapy and platelet-rich plasma treatments, are attracting attention. Also, the expanding reach of e-commerce platforms is making hair loss treatments more accessible to a global audience, further driving the market growth.

Increasing Prevalence of Androgenetic Alopecia

Androgenetic alopecia, commonly known as male or female pattern baldness is a prevalent condition affecting millions of people globally. It is characterized by a progressive thinning of hair, starting from the temples and crown in men, and a general thinning across the scalp in women. The condition is largely influenced by genetics and hormonal changes.

According to an article published by the National Institute of Health (NIH) in January 2024, androgenetic alopecia is more prevalent in Caucasian individuals, and 50% of them are affected by the age of 50 and approximately 80% of them are affected by age 70.

The increasing prevalence of androgenetic alopecia has significantly driven the demand for hair loss treatment products. As more people experience this type of hair loss, there is a growing market for solutions that can slow down, stop, or reverse hair thinning. It has led to a surge in the development and sale of various treatment products, including over-the-counter topical treatments such as minoxidil, prescription medications such as finasteride, and advanced therapies such as platelet-rich plasma (PRP) treatments and hair transplants. Furthermore, the emotional and psychological impact of hair loss has made consumers more willing to invest in effective treatments. The demand encourages pharmaceutical companies, cosmetic brands, and medical practitioners to innovate and improve existing products while creating new ones. Therefore, the market for hair loss treatments continues to expand providing consumers with a wider array of options to manage androgenetic alopecia.

Expanding Pharmaceutical and Innovation in Cosmetic Products to Elevate the Market Size

Pharmaceutical innovations include creating advanced medications that target hair loss at a molecular level. For instance, newer versions of drugs such as minoxidil and finasteride are being formulated to enhance their effectiveness and reduce side effects. Researchers are exploring innovative treatments such as stem cell therapy and gene editing, which could provide more permanent solutions to hair loss.

According to an article published by the National Institute of Health (NIH) in April 2023, MXD and FIN are the only first-line drugs approved by the FDA for hair loss treatments.

According to an article published by the National Institute of Health (NIH) in December 2023, microRNA-based helps in regrowth by softening the hair follicle which becomes stiffer after aging.

The expanding innovation in pharmaceutical and cosmetic products is a major driver in the hair loss treatment market. It means that companies are continually developing new and improved products to address hair loss more effectively and safely. On the cosmetic side, there are significant advancements in products such as shampoos, conditioners, and serums designed specifically to combat hair thinning. These products often contain cutting-edge ingredients such as peptides, growth factors, and plant stem cells that promote hair growth and scalp health.

For instance, in February 2024, Hask, a global leader in beauty and cosmetics, launched Teatree oil-infused shampoo which helps detoxify the greasy, itchy, or dirty scalp. The product is formulated with ultra-fine rice starch which eliminates the excess oil, odor, and impurities from the scalp.

In addition, the rise of natural and organic products has catered to consumers looking for safer, non-chemical alternatives. These innovations are driven by a better understanding of the causes of hair loss and consumer demand for more effective solutions. As a result, the market is filled with a variety of options, allowing individuals to choose treatments that best suit their needs and preferences. The continuous innovation improves treatment outcomes and boosts consumer confidence and market growth.

Influence of Social Media and Celebrity Endorsement

The influence of social media and celebrity endorsements plays a significant role in the hair loss treatment market. Social media platforms such as Instagram, YouTube, and TikTok have become powerful tools for marketing, reaching millions of people daily. When celebrities and influencers share their experiences with hair loss treatments, it creates a positive impact among their followers. Celebrities often endorse hair loss products, showcasing their success stories and results. The endorsement adds a layer of credibility and desirability to the products, as fans trust their favorite stars and are influenced by their beauty and grooming routines. For instance, when a well-known actor or athlete publicly discusses their use of a particular hair growth serum or treatment, it can lead to a surge in sales as fans aspire to achieve similar results. Moreover, social media allows for the sharing of before-and-after photos, tutorials, and reviews, making it easier for potential customers to see real-world results and understand how the products work.

Influencers often create content demonstrating the application and effectiveness of these treatments, providing a relatable and accessible source of information. The constant exposure and engagement on social media platforms increase consumer awareness and interest in hair loss treatments, driving the demand. Also, influencers can launch their haircare products or brands which have become very popular among customers. Therefore, companies leverage these platforms and endorsements to market their products effectively, leading to a growing and dynamic market for hair loss solutions.

For instance, in June 2024, Brooke Sheilds launched her hair care brand ‘Commence’ helping women aged over 40. The brand launches with three major products two-in-one shampoo, root serum, and three-in-one leave-in conditioner. In June 2024, Rihana launched a new hair line ‘Fenty Hair’ a line of nine hair care and styling products built on the belief of Beauty for All.

North America Dominates the Global Hair Loss Treatment Products Market Share

North America dominates the global hair loss treatment products market by holding the largest share due to high prevalence of hair loss conditions in North America, affecting a large portion of the population. The widespread issue creates a substantial demand for effective treatment solutions. Also, North America has a high level of awareness about hair loss issues and available treatments. People in the region are well-informed about the options and are more likely to seek and invest in treatments. The strong presence of major pharmaceutical and cosmetic companies in North America and their continuous research and development for new and advanced products to meet consumer needs is further expected to increase the market share.

For instance, in October 2024, Nutraceutical Wellness Inc., a haircare supplement company based in New York, launched two products, DHT blocker MD and Collagen Infusion MD. The launch aims to provide solutions to hair thinning and would help make hair stronger and shinier.

The region's robust healthcare infrastructure supports the availability and distribution of these treatments. Moreover, the high disposable income levels in North America enable more people to afford advanced and expensive hair loss treatments, such as hair transplants and specialized medications. The financial capability boosts the market as consumers are willing to spend more on effective solutions. Furthermore, the influence of marketing and media in North America significantly impacts market growth. Celebrities and influencers from the region often endorse hair loss products, which drives consumer interest and trust in these treatments. Thus, high demand, advanced research and development, strong economic capability, and influential marketing contribute to North America's dominance in the hair loss treatment products market.

Future Market Scenario (2024 – 2031F)

Consumers are increasingly purchasing natural and organic ingredients in hair loss products. Brands such as Nutraceutical Wellness Inc., offering supplements with botanical extracts such as saw palmetto and biotin, cater to this trend, addressing both efficacy and sustainability concerns, further boosting the market growth.

The hair loss treatment products market will witness further growth through online platforms. Brands, such as Keeps and Hims, leverage direct-to-consumer models, offering subscription-based services for convenience and affordability.

The market will see a shift towards personalized treatment plans tailored to individual needs and conditions. Brands offer customizable solutions combining topical treatments, supplements, and devices based on diagnostic assessments.

Key Players Landscape and Outlook

Continuous innovation by the key players characterizes the competitive landscape of the global hair loss treatment products market. The market is dominated by major players and these companies lead through extensive portfolios, strong brand recognition, product launches, acquisitions, and brand evolution. The market is segmented into products such as shampoos, serums, oils, and supplements, each targeting different types and stages of hair loss. The market is poised for steady growth, driven by increasing consumer demand for effective solutions for hair loss. Hair loss treatment product manufacturers are concerned with supply chain resilience, product quality, manufacturing locally to minimize operational cost, and variety which is expected to define the industry's future. Partnerships, collaborations, and developing technologies are projected to increase competition in the fast-paced market.

For instance, in May 2024, Unilever PLC brand ‘Dove’ launched the advanced hair care collection ‘Bond Strength’ featuring ‘Dove proprietary Bio-Protein Care’ and peptides. The bond strength collection includes a bond strength serum mask, shampoo and conditioner, and other products that cure hair loss and hair damage.