Brazil Hair Care Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Brazil Hair Care Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Brazil's hair care market is projected to grow at a CAGR of 3.81 % during the forecast period, 2022-2027.

The COVID-19 pandemic caused a significant drop in the hair care market, and this trend impacted the expansion of several prominent firms. The abrupt appearance of coronavirus infections caused numerous issues in the hair care industry, resulting in a downward trend in growth. Multiple sales and distribution channels were closed due to lockdown limitations, and there was a production and sales shortage, hampered hair care market growth in 2020.

Despite the economic slump and recession-like environment for its people, Brazil continues to dominate the hair care market drive in Latin America, followed by Mexico and Argentina. A slowing Brazilian economy, stagnant economies, rising cost of products, and some other key factors are the challenges in the hair care market of Brazil.

Over the last few years, the general public has placed a greater emphasis on personal care, as the importance of aesthetic appearance has grown. Furthermore, rising per capita disposable income has fueled demand for various hair care products, and these factors are expected to drive the hair care market potential throughout the projection period. Moreover, the rising demand for organic and herbal products is anticipated to drive the market. Nearly 44% of Brazilian women are customizing their hair care products with natural ingredients to make them more effective.

Due to the rise in hectic schedules and lifestyles, online shopping is becoming a convenient medium for purchasing daily essentials, including hair care products. It is gaining more popularity among millennials and work professionals. Moreover, ease of use of different online shopping applications as per the convenience of the consumers and the use of applications in smartphones and other devices is increasing the sales of hair care products through online retailers. For instance, ​The products available via online retail stores often have offers that allow the customers to buy the product of their choice at a lesser price than single stores.

The Brazil Hair Care market is competitive, owing to large regional and domestic players in different countries. Emphasis is given to the merger, expansion, acquisition, and partnership of the companies and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The major players in the hair care market include Unilever, Proctor & Gamble, Johnson & Johnson, L’Oréal S.A., and Natura & Co.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support