The Hair Care Products and Services Market is expected to reach US$ 152.26 Bn during the forecast period at a 5.33% CAGR.
Enlarged opportunities along with rising need for professional hair services and technological innovation has propelled the market growth in the forecast period. Other important factors that will contribute in the market growth are higher demand of hair color products, growing aging population with higher air pollution and escalated requirement for natural products. At present, concerned consumers about scalp nourishment and hair aesthetics has accelerated. With the growing culture of personal grooming and appearance due to increased professional work culture is one of the primary concern for employees to maintain a professional look. This has encouraged both men and women for higher adoption of hair care products and services which result in increased demand of grooming hair care products. All these factors have consolidated the hair care products and services market. However, expensive premium and professional products with hazardous chemicals may hamper the market growth.
Out of the total hair care products and services market share, one-third of the market was led by Asia-Pacific in 2016. As most of the individuals face hair scalp problems such as hair damage and fall in the particular regions such as China, India, Japan and Rest of Asia-Pacific. Additionally, growing self-consciousness among youth related to their appearance has boosted this market. Variety of styling products, conditioners, oils, hair colors and shampoos attract higher number of consumers in these regions.
The hair care products market size in The Middle East and Africa (MEA) is anticipated to expand at a CAGR of x.x% in the forthcoming years. Some regions which offer exceptional opportunities are South Africa, UAE and the Rest of MEA owing to the potential opportunities in rural areas due to improving disposable income and higher living standards.
The global hair care products and services market has segmentation that is based on geography, distribution channel and product type. On the basis of product type, the sub-categories include shampoo, straightening and perming product, hair coloring, shampoo and styling agent. On the records of 2017, Shampoo market has dominated the most and generated maximum revenue as shampoos are tailored in accordance with variations in hair quality, hair care preferences, specific scalp related problems and age that has gained traction for shampoo market.
Further segmentation that is based on distribution channel involves salons in the professional hair care market, holds largest market share. As consumers prefer guidance from hairstylists before purchasing a product, owing to the hairstylists knowledge of product compatibility and expertise, which bolsters the demand for hair care products and service market.
Local and international key players have invested abundant capital in emerging markets since the 2009 crisis which led to decreased rates of hair care products. Prominent players of hair care products and services market include Henkel AG & Co., Unilever Corporation, Aveda Corporation (Estee Lauder), Olaplex, L'Oreal Group, Procter & Gamble Co., Kao Corporation, Avon Products Inc., Revlon Inc., and Pai Shau. They have strategically focused on launch of product to have a significant share in the market.
Key segments of ‘Hair Care Products & Services Market’
Based on Distribution Channel, the market has been segmented into,
- Specialty Store
The market breakdown data by product type,
- Hair Coloring
- Styling Agent
- Straightening and Perming Product
Others Based on region, the market has been segmented into,
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, UAE, Saudi Arabia, Turkey, South Africa, Rest of LAMEA)
What to expect from the upcoming report on ‘Hair Care Products & Services Market’:
- Future prospects and current trends of the hair care products & services market by the end of forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing economies
- Supportive initiatives by government likely to influence the market dynamics
- Trends, drivers, opportunities, restraints, challenges and key developments in the market
- In-depth analysis of different market segmentations including regional segmentations, and product types
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market