Global Hair Care Products Market to Reach US$ 152.26 Billion by 2028, Says Coherent Market Insights (CMI)

SEATTLE, May 16, 2022 (GLOBE NEWSWIRE) -- The global hair care products market is estimated to be valued at US$ 105.86 Bn in 2021 and is expected to exhibit a CAGR of 5.33% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Hair Care Products Market:

The high demand for natural ingredients has been quite evident in the hair care products market, which has led to the majority of companies launching products with nature-inspired ingredients such as plant-inspired and premium botanical ingredients. Among the organic hair care product types such as conditioners and shampoos, serums and oils, and styling, fromer shampoos holds a majority of the share in the global organic hair care market, owing to its wide usage. For instance, according to Indian Government’s report on pharmaceuticals, over half of the consumers are shifting towards natural or organic products. Consumers are shifting their preference from allopathic hair care products to ayurvedic hair care products due their natural benefits and lack of side effects. 

Another big trend poised to impact the hair care products market is a heightened consumer demand for natural and plant-based products. More specifically, consumers will be on the hunt for plant-based shampoos. For instance, according to Spate, a machine intelligence platform for identifying real consumer needs, there are 840 searches for plant-based shampoo in the U.S. every month, and interest in plant-based shampoo has grown by 31.1% in 2021. Consumers are looking for natural and clean beauty products. Natural, vegan, and plant-based haircare formulations will skyrocket in popularity year 2021, as consumers seek out niche, eco-friendly claims that matter most to them.

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Key Market Takeaways:

The global hair care products market is expected to exhibit a CAGR of 5.33% over the forecast period (2021-2028). Hair care products such as shampoo, hair color, hair conditioner, hair styling products, and hair oil are increasingly becoming popular among consumers across the globe. Growing trend of colouring the hairs in the fashion industry, advancement in the personal care industry, and consumer awareness about hair care products are some of the factors responsible for the rapid expansion of the global market.

Among product type, the conditioner & mask segment accounted for 20.3% market share in 2020. Hair conditioner is a moisturizing agent that adds shine, smooths out strands, and leaves hair feeling soft. The product moisturises and cleanses the hair. In addition, conditioner restores moisture balance. Conditioner is similar to a hair protector that is used after a good shampoo to replenish lost moisture and calm hair fibers.

Competitive Landscape:

Major players operating in the global hair care products market include Unilever plc, Procter Gamble Co., L’Oréal S.A., Avon Products Inc., Revlon Inc., Aveda Corporation, Amka Products (Pty) Ltd., Johnson & Johnson Pvt. Ltd., Combe Incorporated, Henkel Corporation, The Estée Lauder Companies Inc., and Shiseido Company, Limited.

Mergers and acquisitions, strategic collaborations, new product launch, and business expansions are the key strategies adopted by key players to retain their market share. For instance, in February 2022, Henkel, a Germany-based chemical and consumer good manufacturing company, signed an agreement to acquire the Asia Pacific Hair Professional business of Shiseido Professional. The acquisition comprises leading professional brands such as Sublimic or Primience, endorsed by the licensed Shiseido Professional brand. Shiseido Professional is a salon-exclusive brand offering premium products for professional hairdressers in hair care, hair colour, and styling items, as well as perm solutions. To support business growth through a strong partnership with Henkel, Shiseido will retain a 20% share in the legal entity in Japan.

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Market segmentation:

  • Global Hair Care Products Market, By Product Type:
    • Shampoo
    • Conditioner & Mask
    • Hair Oil
    • Hair Gels
    • Hair Color
    • Others (Serum, Comb, etc.)
  • Global Hair Care Products Market, By Distribution type:
    • Supermarket
    • Hypermarket
    • Specialty Stores
    • Convenience Stores
    • Online
    • Others
  • Global Hair Care Products Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Mexico
        • Rest of Latin America
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • By Country/Region:
        • GCC
        • Israel
        • Rest of Middle East
        • North Africa
        • Middle Africa
        • South Africa

Related Market Intelligence Reports:

North America Hair Styling Product Formulations Market, by Product Type (Hair Gel, Hair Wax, Hair Spray (Texture Spray, Smoothening Spray, Hair Thickening Spray, and Others), Hair Serum, Curling Cream, Hair Cream, Hair Mousse, and Others), by Gender (Female and Male), by Packaging Type (Dispenser Pumps, Spray, Tubes, Containers, and Others), by Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Online Retail, Others), and by End User (Individual, Salon, and Events) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Professional Hair Care Market, by Product Type (Hair Coloring, Shampoos, Styling Agent, Straightening and Perming Agent, and Others), by Application (Business to Business (B2B), and Business to Consumer (B2C) (Hypermarkets/Supermarkets, E-commerce, Salons, Specialty Stores, and Others)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

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