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Written by Ravinder » Updated on: November 21st, 2024
IMARC Group’s latest research report, titled “Hair Care Market Report by Product Type (Shampoo, Hair Color, Conditioner, Hair Styling Products, and Others), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, Online Retailers, and Others), and Region 2024-2032,” offers a comprehensive analysis of the hair care market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
How Big is the Hair Care Market?
The global hair care market size reached USD 86.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 124.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.
Global Hair Care Market Dynamics:
Change Toward More Sustainable and Natural Products:
The hair care industry is undergoing a transformation as consumers shift their focus towards sustainable practices and prefer natural formulations. There is a worldwide trend in accepting the harsh effects of chemicals and ordinary hair care products that has increased the need for greener substitutes. This demand is answered with organic shampoos, conditioners and hair treatments, which do not contain parabens or sulfates, and are exclusively enriched with plant based compounds. This is further accentuated by the increasing population of millennials and Gen Z who are more environmentally responsible and focus on the sourcing and ethics of production. By tapping into these needs, companies are not only generating loyalty to the brand but also enjoying their place in a crowded business environment.
Progress in Technology Concerning Hair Care Products and Their Application in India:
One of the ways that defines the competitive landscape in the hair care market is innovation which usually comes from the incorporation of new technologies and scientifically developed formulations. Consumers are now able to receive personalized attention due to smart hair care devices like AI combs, or hair analysis devices with a recommendation engine for specific products. On the other hand, there are also scientifically innovative products like targeted hair serums with nanotechnology or scalp health supporters for dealing with root problems. These technologies address the needs of consumers who desire such types of tailored and effective solutions. As an example, there is a growing trend in the introduction of high-end products because of the increasing demand. This trend demonstrates a new dimension to the market whereby there is a balance of extreme innovation and usability features.
The Gender Shift in Hair Care Products Widening the Target Market:
People today can be picky about what they want because there is plenty of room in the market for customers. The modern hair care market is breaking traditional stereotypes with the advent of unisex products that cover all aspects of hair care needs. As changing social perceptions about beauty and self-care occur within the development of the market as a whole, new brands target their attention more and more on presenting broader product ranges. From basic styling aids to more specific treatments of the skin of the scalp, the driving forces behind this development are versatility and convenience. Changes in advertising also illustrate this trend, where a person's individual characteristics, rather than a hair’s function, become the target of an advert. This explains why such brands do not have difficulties in reaching out to the target audience as they are quite to consumer needs. Users looking for real function rather than marketing gimmick are the ones who would prefer such brands.
According to the research report, here are some of the top leading companies operating in the hair care industry:
Trends in the Hair Care Market:
There is a revolution expanding in the hair care market due to the stimulating needs of the clients as well as the depth of creativity in product development. The focus of giving health to the scalp area as a prerequisite to hair wellness has led to the introduction of specific products such as scalp exfoliating agents and pre-shampooing masks. Also, there is a tendency of packaging useful properties, such as cleansing and conditioning, or styling and protecting in one product, thereby offering convenience to customers without losing effectiveness. Additionally, clean beauty is becoming a new trend and more consumers are looking for products that do not add many new ingredients on top of what the skin already contains. There is also increased emphasis on the digital side of interaction such as virtual samples and web tailored consultations. It is evident that all these trends contribute to the shaping of the future of the industry in a way that it is evolutionary and responsive to consumers’ needs.
Global Hair Care Market Segmentation:
Breakup by Product Type:
According to the report, shampoo represented the largest segment.
Breakup by Distribution Channel:
According to the report, supermarkets and hypermarkets accounted for the largest market share.
Breakup by Region:
According to the report, North America was the largest market for hair care.
Note: Should you require specific information not included in the current report, we are pleased to offer customization options to meet your needs.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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