Hair Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Hair Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global hair care market is projected to grow at a CAGR of 3.35% during the forecast period (2021 - 2026).

The beauty industry (comprising skin care, color cosmetics, hair care, fragrances, and personal care) has been affected by the COVID-19 crisis, as there have been widespread retail and salon store closures leading to the weakening sales of various beauty and personal care product in the global market.

​Owing to the above factor of the closures of salons, the consumer in the global marketplace had adopted one of the notable trends such that do-it-yourself (DIY) beauty care. Since many beauty salons were closed, and even in places where they have not, consumers forged these services because of concerns about close physical contact. ​

As result, DIY hair colouring is finding new customers. Owing to this, Superdrug from the United Kingdom witnessed an increased sales of haircare category, 76% growth on year to date (Apr- May 2020) was registered including the root touch up products like hair dye category.

The changing fashion trends and rise in awareness of the availability of new, more effective, and safer hair care products have led to a significant increase in the use of these products, which in turn boosting the hair care market globally.

Furthermore, the growing demand for organic/natural products for personal grooming has become one of the primary concerns for individuals. Among the organic hair care products, owing to their wide usage, conditioners and shampoos held a majority share in the global organic haircare market in 2018. Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period.

Key Market TrendsGrowing Demand for Organic Hair Care Products

The high demand for natural ingredients has been quite evident in the market studied, which has led to the majority of companies launching products with nature-inspired ingredients, such as plant-inspired and premium botanical ingredients. Among the organic hair care product types, such as conditioners and shampoos, serums and oils, and styling, the former holds a majority of the share in the global organic hair care market, owing to its wide usage. Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period. The demand for organic hair care products in Western Europe is expected to increase at a substantial rate. Moreover, the growing personal care industry is expected to boost the market in Latin America.

Increasing Dominance for the Hair Care Products in Asia-Pacific

China is the second-largest market for hair care products worldwide, only after the United States. In the Asia-Pacific region, the country holds the largest market share and is expected to hold its position during the forecast period, thus further increasing the demand for hair care products in the overall Asia-Pacific and further increasing the potential of Asia-Pacific to become one of the largest markets of hair care products over the next five to ten years. The usage of premium hair care products is most prevalent in tier one megacities, with increasing penetration in China’s inland tier two and tier three cities. This is further likely to increase with the growing middle class and consumption of consumer products. The increasing internet penetration and push of e-commerce companies to attract consumers is driving the sales from e-commerce in the Asia-Pacific region, while sales from the physical retail channel continue to dominate the market.

Competitive Landscape

The industry leaders include L'Oreal SA, Henkel AG & Co. KGaA, Unilever, Procter & Gamble and others. The key players are actively focusing on gaining larger market shares, through constant innovation in products and investments in R&D, for the development of niche products. Considering the above-mentioned factors, the competitive rivalry in the industry is assessed to be high. ​​​Apart from product innovation and merger and acquisition, considering global environmental and human health issues, the market players are adopting sustainable initiatives to accelerate the global beauty industry’s progress to address plastic waste.

Additional Benefits:

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

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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