Nigeria Power - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Australia Hair Care - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Australia Hair Care Market size is estimated at USD 1.34 billion in 2024, and is expected to reach USD 1.69 billion by 2029, growing at a CAGR of 4.82% during the forecast period (2024-2029).

Key Highlights

• The changing consumer dynamics, coupled with increasing product awareness, have been identified as the major driver for the market. In addition, amid the growing prevalence of hair thinning, loss of volume, dryness, and several other hair-related concerns among consumers across the country, hair care products are emerging as the most affluent and cost-effective way. Moreover, a rising awareness of the importance of natural and organic ingredients in hair care has driven the demand for products that align with these preferences. Owing to this, the market players are launching new natural hair care products in the country. For instance, in May 2021, Nature Organics launched a new plant-based sustainable brand, Soda. The brand provides different types of plant-based hair care products.
• Furthermore, there is an increasing demand for at-home hair care products that enable consumers to use their personalized treatments with the premium ingredients of choice, as per their needs. The shampoo is the most preferred and used hair care product in the country for its cleansing and outward nourishment properties. Personalized hair care products with desired functionality, such as hair loss treatment, hair repair, and others, are gaining importance. Combo product offerings that contain hair conditioning and hair nourishing elements are preferred as they are easily available in the market.
• Moreover, manufacturers in the market are focusing on introducing clinically proven and scientifically backed products to attract consumers. Celebrity endorsements and extensive marketing of the products propel the sales of these hair care products as they reach maximum consumers and encourage them to try novel products available in the market. For instance, Eva Mendes promoted the Pantene haircare brand in Australia through social media and television advertisements. Over the medium term, the demand for hair care products is expected to grow owing to the increasing demand for organic and natural hair care products.

Australian Hair Care Market Trends

Shampoo Holds a Prominent Share in the Australian Hair Care Market

• A growing emphasis on personal grooming and wellness has led individuals to invest more in maintaining healthy and stylish hair. Additionally, exposure to global beauty trends through social media has heightened the desire for diverse hair care products. According to We Are Social data from 2022, 82.7% of the population in Australia actively uses social media. Owing to this, the demand for hair care products is increasing. Shampoo products that come with anti-dandruff, anti-thinning, and hair repair treatments are gaining importance in the market for their additional functionality.
• Moreover, the focus on the premium sector is expected to increase among the urban and youth population, with consumers willing to spend on premium shampoo products offering faster results. Also, shampoo products designed for specific hair types are gaining popularity among users, with companies now focusing on products with rich, inactive ingredients. Therefore, factors such as these are further pushing the sales of shampoo in the market studied.

Growing Demand for Organic/Natural Care Products

• In Australia, a growing number of people gained awareness about the benefits of natural and organic 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. Organic hair care products are available with a variety of specifications that are specially produced for different types of hair, such as dry scalp and normal and oily scalp.
• Moreover, Australian consumers are becoming aware of side effects caused due to harsh chemicals like ammonia in hair color, which has led consumers to choose herbal/organic hair colors. The atmospheric and seasonal changes affect hair growth considerably, which is one of the major reasons driving the consumption of organic hair care products. Owing to the demand for natural and medicinal products in the market, new entrants are focusing on brand launches with natural hair care options.
• For instance, in March 2022, the Vedix brand of India also launched its international debut across Australia. The hair care product of the company includes hair oil which helps in strengthening the roots, rejuvenates the hair follicles, and promotes healthy hair growth.

Australian Hair Care Industry Overview

The Australian hair care market is a competitive market, with the presence of various local and international companies. Some of the major players are Procter & Gamble Company, Unilever PLC, Henkel AG & Co. KGaA, and L'Oreal SA. Major companies dominate the market with a major market share. Companies come up with various strategies to remain in the competition. Acquisitions and product innovations are the major strategies followed. The market players are launching new products in the market to cater to the growing demand.

For instance, in August 2022, Nutrafol's company launched its new hair care products that assist in hair health. The new product, Strand Defender conditioner, is offered in the scalp microbiome line. The company claims that the product is silicone-free and reduces the extra oiliness and dryness that adversely affects hair health.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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