In a recent published report, Kenneth Research has updated the market report for Hair Care Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hair Care Market products.
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The hair care market is estimated to represent a global market of USD 59.83 billion by 2017 with growth rate of 5.4%.
The industry covers the retail sale of products and services of hair colorants, conditioners, shampoo, perms & relaxers, styling agents etc.
Rising disposable income and increasing scalp and hair problems globally drive the market growth significantly. For example, according to the International Society of Hair Restoration Surgery, hair loss is widely affected to the all age group as they grow older. Thus, demand for hair care products and services is likely to increase at a rapid pace over the future period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Product segment is bifurcated into Hair Colour, Shampoo, Hair Styling Products, Conditioner and Hair Oil. Shampoo captured the highest share, over 40% throughout the study period. The distribution channel is divided into Supermarkets, Health & Beauty Stores, and others.
Regionally, North America and Europe recorded highest revenue share, captured above 50% collectively. Due to the relatively low barriers to entry, the hair care service industry in these regions is highly fragmented and a number of key companies are investing increasingly to capture large customers. Furthermore, the presence of international incumbents holding a strong position within the consumer products markets in the Asia Pacific and Europe support this regional growth to great extent. On contrary, Asia Pacific region is anticipated to grow with highest CAGR owing to the diverse product range offered by the leading market players.
Key Vendor Takeaway
A number of players in hair care industry in the U.S. are preparing to inject new investment to offer novel products and services to capture large customer base. Avon Products, Inc., L’Oréal, Marico Limited, Kao Corporation, Procter & Gamble, Hindustan UniLever are some of the prominent players operating in this market. L’Oréal and Procter & Gamble are two major players, accounted for significant revenue share.
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Continuous product innovation coupled with the introduction of new hair care products are considered to be the key strategies adopted by key players. For example, L’Oréal expanded its natural hair care category, Botanicals Fresh Care range in June 2017 with an aim to offer premium experience with high-quality products. The company offers this product in four different versions namely Geranium, Camelina, Safflower, and Coriander, with paraben, dye, and silicone-free.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
Hair Styling Products
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
About Kenneth Research
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