Hair care routines differ according to the physical characteristics of one's hair and an individual's culture. Hair care products help to control the properties and behaviour of the hair so that it can be maintained and styled in a desirable manner. These products generally include shampoos, hair conditioners, hair sprays, permanent waves, hair straighteners and relaxers, rinses, tonics, dressings, etc. According to IMARC Group’s latest report, titled “Hair Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global hair care market reached a value of US$ 88 Billion in 2018.
Increasing number of fashion conscious consumers and rise in male grooming, coupled with demand for healthy, lustrous, and manageable hair represent the key factors driving the global hair care market. Expanding aging population and subsequent adoption of hair colours and dyes has also provided a thrust to the market growth. Moreover, a surge in hair related issues among the consumers has led to several product innovations accommodating the prevalent and changing consumer tastes and preferences, thereby facilitating the demand for hair care products. Apart from this, the growth of the organized retail has also boosted the market. According to the report, the market is anticipated to reach a value of US$ 107.4 Billion by 2024, exhibiting a CAGR of 3.4% during 2019-2024.
The report has segmented the market on the basis of product type into shampoo, hair colour, conditioner, hair styling products and others, wherein shampoo represents the most popular product. Based on the distribution channels, the market is categorised into supermarkets and hypermarkets, specialty stores, convenience stores, online retailers and others. On a regional-basis, the report covers North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, North America represents the largest market, followed by Europe. The report has also analysed the competitive landscape of the market with some of the key global players being Kao Corporation, L'oreal, Procter & Gamble, Unilever, and Johnson & Johnson.
This report provides a deep insight into the global hair care market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the hair care industry in any manner.
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