Global Hair Growth Products Market to Reach US$ 11.8 Billion by 2032, Propelled by the Introduction of Organic and Natural Formulations

July 05, 2023 | Retail

According to the latest report by IMARC Group, titled “Hair Growth Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global Hair growth products market size reached US$ 8.5 Billion in 2023. Hair growth products refer to personal care products that are designed to mitigate hair loss and promote hair growth. They are comprised of several ingredients, such as biotin, minoxidil, vitamins, natural extracts, peptides, plant stem cells, caffeine, and essential oils. Hair growth products are widely used for treating hair loss, stimulating blood circulation, nourishing the scalp, and postpartum hair recovery. They are cost-effective, and highly efficient products that aid in extending hair’s growth phase, reducing breakage, improving elasticity, strengthening follicles, and preventing premature hair fall. They also improve the overall texture, thickness, and appearance of hair, which assists in boosting confidence and improving self-esteem.

Hair Growth Products Market Trends:

The increasing prevalence of hair-related issues, such as hair loss, thinning, and scalp disorders, due to stress, unhealthy lifestyles, environmental pollution, hormonal imbalances, and genetic predisposition is boosting the market growth. Hair growth products are widely used to improve blood circulation, nourish the hair strands, and stimulate hair follicles to facilitate optimum hair growth. Furthermore, the growing emphasis on personal appearance is facilitating product demand as they aid in enhancing the texture, density, strength, and overall quality of hair. Additionally, the introduction of organic and natural formulations that are manufactured using plant-based ingredients, herbal extracts, and organic compounds, which minimize side effects and accelerate hair growth, is positively influencing the market growth. Besides this, the recent development of advanced drug delivery systems, such as transdermal patches and micro-needling devices that deliver active ingredients directly to the scalp, improve absorption, and ensure the controlled release of hair growth serums, is contributing to the market growth. Moreover, aggressive promotional and branding activities by manufacturers through digital marketing, social media campaign, and celebrity endorsements are catalyzing the market growth. Other factors, including rising disposable incomes, increasing investments in the development of advanced formulations, and the significant growth in the male grooming industry, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 11.8 Billion by 2032, exhibiting a CAGR of 3.69% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been classified into shampoos and conditioners, serums, oils, supplements and vitamins, and others. Among these, shampoos and conditioners represent the largest market share.
  • Based on gender, the market has been bifurcated into men and women. Among these, men hold the majority market share.
  • On the basis of the age group, the market has been divided into under 35, 35 to 50, and above 50. Among these, 35 to 50 represent the largest market share.
  • Based on the distribution channel, the market has been bifurcated into online and offline. Among these, offline accounts for the largest market share.
  • On a regional basis, the market has been categorized into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. At present, Asia Pacific holds the largest market for hair growth products.
  • The competitive landscape of the industry has also been examined, with some of the key players being Farouk Systems Inc., Johnson & Johnson, L'Oréal S.A., Mosaic Wellness, Nutrafol (Unilever plc), Philip Kingsley Products Ltd., Vita Balance Inc., Yanagiya Honten Co. Ltd., etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Product Types Covered Shampoos and Conditioners, Serums, Oils, Supplements and Vitamins, Others
Genders Covered Men, Women
Age Groups Covered Under 35, 35 to 50, Above 50
Distribution Channels Covered Online, Offline
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Farouk Systems Inc., Johnson & Johnson, L'Oréal S.A., Mosaic Wellness, Nutrafol (Unilever plc), Philip Kingsley Products Ltd., Vita Balance Inc., Yanagiya Honten Co. Ltd., etc.
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Global Hair Growth Products Market to Reach US$ 11.8 Billion by 2032, Propelled by the Introduction of Organic and Natural Formulations
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