Wilmington, Delaware, United States, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The hair care products market reached US$ 42.1 billion in 2020. The market is anticipated to register a 5.1% CAGR from 2021 to 2031 and is likely to gain US$ 72 billion by 2031. Tailored hair care products, customized to individual hair types and concerns through AI and data-driven analysis, offer a unique and untapped opportunity. These personalized solutions could revolutionize the market by addressing specific consumer needs.
The integration of IoT technology in hair care devices allows users to track hair health and receive real-time insights, fostering a new market segment. These devices could range from scalp analyzers to smart hairbrushes, enhancing hair care routines. Eco-friendly packaging innovations still need to be explored while the focus on natural ingredients is known. Biodegradable and reusable packaging materials align with consumer eco-consciousness and could differentiate brands.
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A growing interest in grooming among men presents an uncharted territory for specialized men's hair care products, from shampoos to styling solutions. Tailoring hair care products for older adults and addressing age-related concerns like hair thinning and greying can cater to a significantly aging global population.
Key Findings of the Market Report
- The dominating product in the hair care products market is shampoo, which forms the foundation of most hair care routines.
- The leading type segment is synthetic, widely used in mainstream hair care formulations.
- The dominating price range in the hair care products market is medium, catering to a broad consumer base with affordability and quality.
- The leading end-user in the hair care products market is women, who represent the largest consumer group for hair care products.
- The dominating distribution channel in the hair care products market is online retailers offering consumers a wide range of products and convenience.
Market Trends for Hair Care Products
- Growing demand for clean and transparent ingredient lists influences product formulation and labeling in the hair care market.
- The market increasingly focuses on products catering to diverse hair textures and needs.
- Brands are adopting sustainable production methods and reducing plastic usage, aligning with environmental consciousness.
- Products promoting overall hair health, rather than just cosmetic benefits, gain traction.
- Nutritional supplements to improve hair health are emerging as a complementary market to traditional hair care products.
Market for Hair Care Products: Regional Outlook
- North America leads with a substantial market share. It is driven by a strong focus on personal grooming, a robust beauty industry, and a growing preference for natural hair care products. The region is also adopting innovative hair care trends, such as clean beauty and specialized treatments.
- Europe closely follows, characterized by an established beauty culture and a demand for premium hair care solutions. The region emphasizes eco-friendly and sustainable products, with a growing interest in professional salon treatments.
- In the Asia Pacific, rapid urbanization, a growing middle class, and changing lifestyles contribute to a thriving hair care market. Increasing disposable incomes, a preference for Western beauty standards, and a growing awareness of hair health are driving market growth in the region.
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Global Hair Care Products Market: Competitive Landscape
The competitive landscape of the global hair care products market is fiercely contested, with numerous global and local players vying for market share. Established giants like Procter & Gamble, L'Oréal, and Unilever continue to dominate with their extensive product portfolios and strong brand presence.
Emerging niche brands, such as Ouai Haircare and Function of Beauty, focus on specialized formulations and personalized solutions, challenging industry norms. Online retail platforms, including Amazon and Sephora, significantly influence brand visibility and sales.
Small, eco-conscious brands gain traction, adding a layer of competition as consumer preferences evolve toward natural and sustainable options. The hair care products market remains dynamic and innovative, driven by consumer demand for diverse, high-quality products. Some of the evolving key players in the global hair care products market are:
- Procter & Gamble
- L'Oréal S.A.
- Unilever
- Avon Products Inc.
- Clarins Group
- The Estée Lauder Companies Inc.
- Johnson & Johnson
- KAO Corporation
- Shiseido Company, Limited
- Henkel AG & Co. KGaA
Product Portfolio
- KAO Corporation offers a diverse product portfolio, spanning personal care, cosmetics, and healthcare segments. Known for brands like Kanebo and Biore, they provide high-quality skincare, haircare, and health products, catering to consumer well-being and beauty needs.
- Shiseido Company, Limited boasts a premium product portfolio renowned in the beauty industry. Their offerings encompass skincare, cosmetics, and fragrance lines, characterized by innovation and luxury, providing customers with timeless and practical beauty solutions.
- Henkel AG & Co. KGaA's product portfolio includes a wide range of personal and industrial products, from Schwarzkopf haircare to adhesive technologies. They cater to diverse consumer and industrial needs, emphasizing sustainability and innovation in their solutions.
Global Hair Care Products Market Segmentation
By Product
- Shampoo
- Conditioner & Mask
- Hair Oil
- Hair Color
- Others (Serum, Comb, etc.)
By Type
- Organic
- Synthetic
By Price
- High
- Medium
- Low
By End-user
- Women
- Men
- Kids
By Distribution Channel
- Online
- Online Retailers
- Company Owned Platforms
- Offline
- Hypermarkets/Supermarkets
- Pharmacy
- Beauty Salon
- Others
By Region
- North America
- Europe
- Asia Pacific
- The Middle East & Africa
- South America
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