According to the latest report by IMARC Group, titled "Hair Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global hair care market reached a value of US$ 82.3 Billion in 2022. Hair care involves the adoption of various products that aid in maintaining and improving the overall hair health. They are generally used by individuals to clean and improve the overall texture and appearance of their hair. Some of the commonly utilized hair care products include serums, supplements, hair oils, hair loss treatment, styling products and conditioners that are formulated with essential nutrients that help in hair nourishment. These products are widely available across the globe that differs on the basis of their ingredients, content formulation, product size and price range. The demand for hair care is rising due to the easy availability of a diversified range of hair care products in the market.
Global Hair Care Market Trends:
The global market is primarily driven by the increasing preference for maintaining hair health among the masses. This is supported by the adverse effects of harsh environmental conditions on hair that often lead to hair fall, thinning, dandruff, itchy scalps and hair loss. Moreover, the inflating disposable income levels of individuals and the easy product availability via offline and online organized retail channels are providing a boost to the sales of hair care products. Additionally, several leading players are heavily investing in launching customized hair care products due to the complexity and diversity of hair concerns and types, which are gaining widespread prominence across the globe. In line with this, the introduction of sulfate-free, chemical-free and organic hair care products is providing an impetus to the market growth. Other factors, including the development of aggressive marketing strategies, promotional campaigns, celebrity endorsements and innovative packaging solutions by key players and extensive research and development (R&D) activities, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 107.2 Billion by 2028, exhibiting a CAGR of 4.4% during 2023-2028.
- On the basis of the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, convenience stores, online retailers and others.
- Based on the product type, the market has been segmented into shampoo, hair color, conditioner, hair styling products and others. Among these, shampoo accounts for the biggest market share.
- On the geographical front, the market has been divided into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. Currently, the North America region holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include KAO Group, L’Oréal USA, Inc., The Procter & Gamble (P&G) Company, Unilever PLC, and Johnson & Johnson, Inc.
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