New York, USA, April 06, 2022 (GLOBE NEWSWIRE) -- According to Research Dive, the global men’s hair care and styling products market is estimated to generate a revenue of $43,910.1 million by 2028, and grow at CAGR of 3.2% over the forecast period (2021 to 2028). The comprehensive report provides a summary of the present market scenario comprising key aspects of the market such as growth factors, lucrative growth opportunities, and restraining factors. Besides, the report provides all the men’s hair care and styling products market trends, COVID-19 impact on the market, and market estimations making it easier, helpful, and useful for the new participants to understand the market.
Market Dynamics
As per our analysts, the massive surge in the male pattern hair loss and the serious concerns among men’s related to rise in hair problems including hair loss, dandruff, and hair graying are the major factors predicted to boost the growth of the global men’s hair care and styling products market over the analysis period. In addition, the rising adoption of organic hair care products and the launching of various products by key market players are projected to create huge growth opportunities for the global market over the forecast period. However, the increased competition in the hair care and styling products industry leading to fueling price pressure are estimated to restrict the market growth in the projected timeframe.
COVID-19 Impact on the Men’s Hair Care and Styling Products Market
The COVID-19 pandemic has had an unfavorable impact on the growth of the global men’s hair care and styling products market. The negative impact on the market growth is majorly owing to the declining demand for raw materials and slowing down of manufacturing & production of men’s hair care and styling products across the globe. However, initiatives taken by key players of the market, such as product launches and strategic collaborations during the pandemic period are predicted to boost the create massive growth opportunities for the market.
Hair Care Sub-segment to Hold the Largest Market Share
By product type, the hair care sub-segment is predicted to account for $29,112.4 million by 2028 and is expected to hold the majority of market share during the analysis period. This is mainly due to the growing utilization of various hair care products to cleanse, maintain, and improve the texture and appearance of the hair. These products include shampoo, oil, conditioner, serum, and others. Besides, the growing popularity for modern approach to grooming practices is another factor predicted to boost the men’s hair care and styling products market by 2028.
E-commerce Sub-segment to Witness Substantial Growth
By distribution channel, the e-commerce sub-segment is estimated to generate a revenue of $9,221.1 million by 2028 and is anticipated to witness significant growth during the global industry over the forecast period. This sub-segment growth is mainly because e-commerce provides unrestraint access to information about hair care products, better convenience and improved outcomes, and excellent efficiency to consumers.
North America Region to be Most Dominant
By region, the North America men’s hair care and styling products market is projected to garner a revenue of $23,491.9 million by 2028 and is expected to subjugate in the market during the forecast period. The dominant growth of the region can be attributed to the presence of hair care companies, such as L'oreal, Baxter, and MAV in the US and Canada. Besides, the increasing demand for premium hair care solutions, increasing investments in promotional activities, and enhancing product packaging are other factors anticipated to drive the regional market growth over the forecast period.
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Prominent Market Players
Some of the top players of the global men’s hair care and styling products market are:
- Baxter of California
- Harry’s, American Crew
- Jack Black
- Malin+Goetz
- Hanz de Fuko
- Redken Brews
- Dove Men
- Old Spice
- Axe
These players are applying various strategies to gain a competitive edge and strong hold in the global industry.
For instance, in September 2021, CavinKare, the Indian FMCG major, announced its entry into the men’s grooming segment by launching its first pure play Personal Care brand, ‘BIKER’S.’ The company is offering a slew of products catering to hair & body care needs especially for urban male.
Related Article Links:
- What are the Beneficial Ways of Using Men’s Hair Care and Styling Products to Maintain Good and Healthy Hairs?
- Acquisitions Like That of Fresh Heritage by Branded Group to Propel the Growth of the Global Men’s Hair Care and Styling Products Market
