Hair Care Market Growth, Demand, Industry Outlook, and Forecast

Hair Care Market Outlook 2024-2032

The global hair care market size reached US$ 86.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 124.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032. The increasing prevalence of various hair problems, rising concerns among individuals about the harmful effects of pollution, and the growing demand for anti-dandruff shampoos with natural ingredients are some of the major factors propelling the hair care market growth. 

Hair care involves the adoption of different practices and products to maintain the health, cleanliness, and appearance of hair. It relies on various techniques, treatments, and routines designed to promote healthy hair growth and enhance its natural beauty by addressing specific concerns, such as dryness, damage, or dandruff. It encompasses numerous activities, including cleansing, conditioning, styling, and protecting the hair. It aids in preventing hair shaft damage and keeping hair strands aesthetically presentable, soft, and shiny. It also enhances the lubrication of the shaft, prevents hair breakage, and reduces the amount of water absorbed in the hair.

The surging prevalence of various hair problems, such as dandruff, dry and itchy scalp, hair loss, and dull hair, represents one of the major factors driving the demand for hair care products and services around the world. Moreover, rising concerns among individuals about the harmful effects of pollution and increasing exposure to ultraviolet (UV) sun rays are favoring the growth of the market. In addition, the growing demand for anti-dandruff shampoos with natural ingredients, such as tea tree oil, neem, basil, rosemary oil, lemon oil, and cedarwood, is influencing the market positively. Apart from this, the introduction of multi-purpose products with natural oils, aloe vera, cocoa butter, and other organic extracts, along with the easy availability of hair care products through various distribution channels, such as supermarkets, hypermarkets, retail and convenience stores, and online platforms, is creating a positive outlook for the market.

Hair Care Market Trends/Drivers:

Rising Celebrity Culture Resulting in the Growing Investment on Personal Grooming

At present, there is a rise in the emphasis on grooming, self-presentation and maintaining a polished look. People have recognized that their hair plays a significant role in their overall appearance, and they are more inclined to invest in hair care products and treatments to enhance their overall appearance. Moreover, the prominence of numerous social media platforms, beauty influencers, and celebrity culture are driving the demand for hair care products, as individuals seek to emulate popular hairstyles and keep up with the latest trends.

Easy Availability of Customized Hair Care Products to Target Specific Hair Care Woes Impacting Overall Market Growth

People have different hair types, textures, and concerns, such as dryness, frizz, thinning, or damage caused by heat styling or chemical treatments. This diversity is growing the demand for customized hair care products that cater to specific needs, such as moisturizing shampoos for dry hair, smoothing serums for frizz control, or products for color-treated hair. Moreover, individuals with textured or curly hair are embracing their natural hair patterns, which has led to a surge in the demand for products designed for curly hair. The recognition and acceptance of diverse hair types drives the need for tailored hair care solutions, which results in a wider range of products available in the market.

Increasing Concerns About Hair Health and Wellness Stimulating Market Growth

The growing focus on hair health and wellness is another key factor driving the demand for hair care products and services. Many individuals are concerned about maintaining the overall health and condition of their hair. There is consequently a rise in the awareness about the benefits associated with hair health and wellness, such as a healthy scalp, proper nourishment, and protection from damage, along with strong, vibrant, and lustrous hair. This awareness has led to the demand for products that promote scalp health, address issues like dandruff or hair loss, and provide ingredients known to nourish and strengthen the hair. Consequently, the pursuit of hair health and wellness is driving innovation in the hair care industry, with a focus on creating products that support long-term hair vitality.

Hair Care Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global hair care market report, along with forecasts at the global and regional levels from 2024-2032. Our report has categorized the market based on distribution channel and product type.

Breakup by Product Type:

• Shampoo
• Hair Color
• Conditioner
• Hair Styling Products
• Others
   

Shampoo represents the most popular product type

The report has provided a detailed breakup and analysis of the hair care market based on the product type. This includes shampoo, hair color, conditioner, hair styling products, and others. According to the report, shampoo represented the largest segment. Shampoo is mostly preferred as a hair care product by individuals as it is a cleansing product designed to remove dirt, excess oil, and impurities from the scalp and hair. It typically contains surfactants that create a lather to help lift away dirt and debris. It is available in various formulations for different hair types, such as moisturizing shampoos for dry hair, volumizing shampoos for fine hair, or clarifying shampoos for removing product buildup.

Hair color is another product type of hair care products that is used to change the natural color of the hair. It comes in various forms, including permanent, semi-permanent, and temporary colors. Permanent hair color can provide long-lasting color change, while semi-permanent colors gradually fade over time. Besides this, temporary colors provide temporary coverage or highlights and wash out with shampooing.

Conditioner is a hair care product that helps nourish, moisturize, and detangle the hair after shampooing. It contains ingredients that provide hydration, improve manageability, and enhance the overall appearance of the hair. It can be available in rinse off or leave-in variants.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Convenience Stores
• Online Retailers
• Others
   

Most hair care products are sold via supermarkets and hypermarkets

The report has provided a detailed breakup and analysis of the hair care market based on the distribution channel. This includes supermarkets and hypermarkets, specialty stores, convenience stores, online retailers and others. According to the report, supermarkets and hypermarkets accounted for the largest market share.

The main factor driving the market is the rising number of supermarkets and hypermarkets around the world and numerous associated benefits. Supermarkets and hypermarkets are easily accessible and offer several hair care products under one roof. They allow shoppers to find everything they need for their hair care routine in a single shopping trip. They offer competitive pricing due to their ability to purchase products in bulk and negotiate lower prices from suppliers. They run promotions and discounts on hair care products, which allows customers to save money or get value-added offers like bundle deals or loyalty rewards programs.

Specialty stores help customers find the right products for their hair type and offer specific solutions. They have knowledgeable staff who can provide personalized recommendations and advice based on individual needs and concerns. They carry a comprehensive range of hair care products, including high-end and professional brands.

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

North America exhibits a clear dominance, accounting for the largest hair care market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. According to the report, North America was the largest market for hair care. North America held the biggest market share due to the growing emphasis on personal grooming and appearance in the region. It can also be attributed to the increasing influence of social media and platforms, including television, magazines, and social media, along with rising environmental factors.

Europe is estimated to expand further in this domain during the forecast period. Owing to the region’s increasing beauty consciousness, rising influence of fashion and trends, and increased online shopping, Europe is predicted to experience growth in the coming years.

Competitive Landscape:

The top companies in the global hair care market are launching various hair care products with different ingredients, content formulation, product size, and price. They are also introducing organic, plant-based, herbal, and medicated variants in innovative fragrances and packaging to meet the requirement of the consumer. Key companies are also offering customized products to meet special consumer needs, such as cleansing, styling, softening, strengthening, damage repair, thermal protection, frizz control, color retention, and moisturization. They are also focusing on numerous marketing strategies, such as celebrity endorsements, online tutorials, reviews, and social media endorsements to expand their consumer base.

The report has provided a comprehensive analysis of the competitive landscape in the global hair care market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• KAO Group
• L’Oréal USA, Inc.
• The Procter & Gamble (P&G) Company
• Unilever PLC
• Johnson & Johnson, Inc.

Recent Developments:

• The Johnson & Johnson Company introduced its new skin and hair care brand VIVVI & BLOOM, specifically designed for babies and toddlers of all age groups, in July 2022.
• In August 2021, Procter & Gamble launched the multicultural hair care line Nou. The brand is sold through Walmart.com and is expected to be rolled out to numerous other stores. The product line includes hair oils, shampoo, and conditioners.
• In September 2021, Drunk Elephant, a Shiseido Company Limited brand, developed its distribution channels by establishing its product lines to ultra beauty stores online and offline. The product line includes a skincare range, along with Cocomino Glossing Shampoo, Cocomino Marula Cream Conditioner, and Wild Marula Tangle Spray.

Hair Care Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the hair care market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global hair care market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the hair care industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.