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Hair Care Market is likely to Register Single Digit CAGR by 2020

Press Release   •   Feb 24, 2017 01:15 EST

Hair care products help to protect and nourish the hair and reduce hair damage. They keep hair healthy by enhancing the texture and quality of the hair. Hair care products can be made of synthetic or natural ingredients, combined with other additional substances such as preservatives, agents, surfactants and emulsifiers. Hair care products are used by hair care professionals in salons and by individual at home. According to the type of hair and its requirements there are different types of hair care products are available in the market such as shampoo, conditioner, hair styling gels, colorants, serums, hair spray, glazes, hair growth products and hair accessories. Modern hair care products provide multiple treatments for damage include split ends, rough, weak, dull and dehydrated.

North America has the largest hair care market followed by Europe, due to increasing hair related problems among consumers, new hair care products innovations and increasing demand for natural and organic hair care products in these regions. Asia is expected to experience high growth rates in the next few years due to emerging economy, improvement in living standards, rising hygiene awareness and increasing hair related problems due to unhealthy lifestyle, seasonal and climatic factors.

Increasing hair and scalp problems, intelligent advertising campaigns of hair care products, growing popularity of herbal hair care products, technology innovations in product manufacturing, rising disposable income and increasing spending on hair care are some of the key factors driving the growth for global hair care market. In addition, attractive packaging, increasing consumer’s awareness about the hair care and shifting towards hair care and styling products are driving the market for hair care. However, high cost involved and economic slowdowns are some of the major factors restraining the growth for global hair care market.

Growing demographics and economies in the developing countries such as India and China are expected to offer good opportunities in hair care market. However, threat from counterfeit hair care products is a challenge for hair care market. Various trends that have been observed in the global hair care market include growing popularity of hair care treatments such as hair spa and deep nourishment, increasing number of product launches. In addition, rising number of mergers and acquisitions between companies, increasing focus on personal grooming and online retail for hair care products are some of the latest trends for global hair care market.

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Some of the major companies operating in the global hair care market are L’Oreal USA, Unilever, Goody Products Inc., CONAIR CORPORATION, Henkel AG & Co. KGaA, Diamond Products Company, Aveda Corp, REVLON, Kao Brands Company, Avon Products, Inc. and Neutrogena Corporation.

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