Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Hair Oil Market Report (2023-2028)," the market is estimated at USD 3.44 billion in 2023. It is expected to register a CAGR of 5.23% during the forecast period.
Hair oil is a product used for personal care. It conditions and nourishes the hair. Hair oil which has medicinal properties helps heal hair-related ailments like alopecia and inflammation. Due to the growing trend of e-commerce, online retailing is also growing as a prominent distribution channel in the hair oil market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 3.44 billion |
| Market Size (2028) | USD 4.44 billion |
| CAGR (2023-2028) | 5.23% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing demand for clean-label, cruelty-free products. |
| The growing occurrence of hair-related problems. |
Which are the Top Companies in the Hair Oil Market?
The hair oil market is highly competitive, with established players leading the market. Various companies are innovating and promoting their hair oil offering to cater to increasing consumer demand. The key market players are building and sustaining their brand image with the help of advertising, promotions, and sample distribution.
Prominent players in the hair oil market are,
- Dabur India Ltd
- Marico Limited
- Bajaj Consumer Care Ltd
- Emami Group
- L'oreal SA
- Unilever PLC
- Henkel AG & Co. KGAA
- Bio Veda Action Research Co.
- MorrocanOil
- CavinKare Group
Other Reports That Might Be of Your Interest:
- Bangladesh Hair Oil Market Report - The Bangladeshi hair oil market value is estimated at USD 176.53 million in 2023. It is expected to reach USD 232.80 million by 2028, registering a CAGR of 5.69% during the forecast period (2023-2028).
- Hair Care Products Market Report - The hair care products market is expected to register a CAGR of 4.55% during the forecast period (2023-2028).
Key Highlights from the Hair Oil Market Report:
Growing Hair-related Problems
- Hair-related problems like alopecia areata and telogen effluvium are rising, leading to increasing demand for effective hair oils globally. Consumers use hair oils to cater to problems like hair fall, dandruff, inflammation, and scalp itching.
- Good hair oils help increase the strength of roots and hair length. Consumers are looking for products that suit their respective hair types. Therefore, manufacturers are focused on fueling the sale of hair oils.
Asia-Pacific Occupies Maximum Growth Rate
- Asia-Pacific is witnessing the fastest growth in the hair oil market because of increased awareness about hygiene, harsh weather conditions, poor quality of water, and preference for hair care products, thereby driving the demand for hair oils.
- India is a prominent market for hair oils in the region, where coconut oil is extensively used for hair care. As the country’s population is rising, there has been increasing demand for essential commodities and hair oil, which is expected to increase more in the next five years.
What are the Latest Developments in the Hair Oil Market?
- In June 2023, Marico launched its Red King Cooling Oil, featuring a power tube, in India. The product is claimed to have been developed by combining 10 Ayurvedic ingredients.
- In February 2022, Dabur India Ltd introduced its Virgin Coconut Oil to strengthen its position in the coconut oil industry. The product is fully made of natural ingredients and can be used for cooking and as a massaging oil.
Mordor Intelligence has Segmented the Hair Oil Market Based on Product Type, Distribution Channel, and Geography:
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Coconut Oil
- Almond Oil
- Argan Oil
- Other Product Types
- By Distribution Channel (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Specialty Stores
- Pharmacies/Drug Stores
- Supermarkets/Hypermarkets
- Convenience Stores
- Other Distribution Channels
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Hair Oil Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- France Hair Care Market Report - The French hair care market is expected to register a CAGR of 3.75% during the forecast period (2023-2028).
- Australia Hair Care Market Report - The Australian hair care market size is estimated at USD 1.20 billion in 2023. It is expected to reach USD 1.40 billion by 2028, registering a CAGR of 3.15% during the forecast period (2023-2028).
- Germany Hair Care Market Report - The German hair care market is expected to register a CAGR of 2.37% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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