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

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

The Russian salon hair care market was valued at USD 350.38 million in 2018 and is projected to register a CAGR of 5.47% over the forecast period, 2019-2024. Russian consumers are driven by social media trends and other technical advancements, which have led to the evolution of the concept of advanced grooming and beauty for both males and females. Therefore, Russian population, particularly younger population, are looking for the customized, consumer-centric services for their hair, so that they follow the latest trend in the hair fashion industry and these salons guide them the ways to keep their hair nourished regularly. Russian salons are gaining high traction to the business as they offer customer touch points, owing to the rising demand for hair styling and personal care services. These salons utilize the branded products to cater to their services, which further promotes the brand, thereby propelling market growth.

Key Market TrendsIncreased Concern toward Hair-related Issues

Russia witnessed significant growth in the female employment rate, in the recent past. This resulted in an increasing need for beauty solutions, as this population is more concerned with personal care and inclination toward beauty care products. Owning to high concern for hair-related issues, there’s a rise in demand for specialized products. Hair textures vary from person to person and so do the hair and scalp related issues. Some people might have damaged or dry hair, while others have to deal with breakage and hair fall problems. Increased hair loss due to changing lifestyle and exposure to the environment have primarily driven the hair care products market growth in Russia. The rise in the aging population coupled with a rise in hair fall problems is likely to contribute to the hair care market growth in the forecast period. Moreover, the growing inclination of the consumer to use hair loss treatment products instead of hair loss treatment solutions due to the high cost involved in lesser therapy and hair transplant surgery is supporting the sales of hair loss treatment products, such as shampoos and conditioners.

Hair color Segment Dominates the Russian Market

The hair color segment of the market studied was valued at USD 169.15 million in 2018 and is expected to register an estimated CAGR of 4.61%, during the forecast period. Hair color is the highest growing segment in the market, driven by the younger generation’s interest toward experimenting with their hair, like applying different colors, and elder generation’s interest toward coloring graying hair. Since the majority of the Russian population ranges from 15 to 64 years, it contributed 68.22% of the market share, in 2017 (as per the World Bank). Therefore, the application of hair color is expected to increase in the future. Salons provide more professional and precise service, or application, of these hair colors on hair, thus driving more customer satisfaction from salons. Therefore, the younger generation of Russia may particularly increase its footfall in salons, as they may get customized and high-quality services from the professionals. These professionals have experience in dealing with complicated customer demands, and they make their customers aware of the latest trends in the hair color market, in Russia.

Competitive Landscape

L’Oreal, Revlon Inc., Procter & Gamble, and Henkel AG & Co KGaA have been active in the market, by launching various products. Owing to the diversified product portfolio, which includes products for coloring, hair styling, and hair care, the key market players, like L’Oreal, Unilever, Henkel AG & Co KGaA, and Coty Inc., hold the maximum market share in the market studied. L’Oreal has a strong presence in the market, with a product range, like Mythic Oil, Absolut Repair Lipidium, Platinium, Majirouge, and Infinium Pure Extra Strong, which has made it a popular brand among the Russian consumers. The launch of new and innovative products has been the crucial strategy for higher market penetration by key players, like L’Oreal, Revlon Inc., and Henkel AG & Co KGaA.

Additional Benefits:

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

Companies Mentioned

Loreal SA
Shiseido Co. Ltd
Procter & Gamble
Unilever
The Este Lauder Companies Inc.
Revlon
Coty Inc.
Henkel AG & Co KGaA
Avon Products Inc.
Kao Corporation

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.