Hair Care Products Market Progresses for Huge Profits During 2021-2031

Transparency Market Research delivers key insights on the global hair care products market. In terms of revenue, the global hair care products market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global hair care products market.

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Manufacturers are focusing on developing their distribution, marketing, and sales channels to improve their product reach. They are exploring the potential of selling the products online and through direct channels such as beauty stores, specialty stores, and supermarkets. eCommerce channels are grabbing this opportunity to sell more products online. In addition, consumers have started considering e-retailing while purchasing hair care products. Increased awareness about hair care, high penetration of salon services, and rise in disposable income are some of the major factors fueling the growth of the global hair care products market.

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Hair Care Products Market: Key Segments

In terms of product, the shampoo segment accounts for major share in the global hair care products market followed by the conditioner & mask segment. Rising prevalence of hair disorders such as dandruff, hair fall, oily hair, dryness, and itchiness is responsible for the adoption of hair care products globally. Rapid urbanization, increasing per capita income, and change in lifestyle are also significantly contributing to the growth of the global market. The market is witnessing increased demand for natural and organic hair care products, owing to several health hazards associated with the use of synthetic products. Although conventional shampoos undeniably clean the hair, they are known to cleanse sometimes to the point of eliminating the vital natural oils of the hair and the scalp, causing them to dry out, leading to itchiness.

In terms of type, the synthetic segment accounts for a major share in the global hair care products market. Majority of hair care products available in the market today is made artificially. However, organic products are anticipated to grow at a significant rate during the forecast timeline. Organic hair care products are made with types that meet the same standards as organic food. This means no harsh chemicals. Hence, these products have no side effects. This is leading to the growing demand for organic hair care products. Organic hair care products are often made from natural or plant-based sources.

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In terms of end-user, the women segment held major share in 2020. Rising disposable income, growing working women's population across the world, and increasing aspiration to obtain healthy hair are expected to fuel the demand for hair care products among women in the global market. Inclination of the younger generation toward natural and organic products is expected to increase the demand for hair care products across the world.

Based on distribution channel, the offline channel accounts for maximum share of the global hair care products market. Various factors contribute to the expansion of this segment in the global market. Offline channels enable buyers to check the product, and buy as per their requirement. However, the online channel is expected to grow at a significant rate during the forecast timeframe. Hair care products are sold by leading players globally with the help of big retail giants such as amazon.com and Walmart. Manufacturers of hair care products also sell the products through regional retail players, and through authorized offline distribution channels, which is projected to drive the market during the forecast period.

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Hair Care Products Market: Prominent Regions

In terms of region, Europe held a major share of the global hair care products market in 2019. This growth can be attributed to increasing awareness about hair health, changing attitude of women toward hygiene and eco-friendly products, and rising awareness about hair care among men in the region. The Asia Pacific market is likely to witness major growth during the forecast timeline. Growth of the Asia Pacific hair care products market is credited to the rise in disposable income, changing lifestyles, and increased awareness among women.

Hair Care Products Market: Key Players

Key players operating in the global hair care products market are Procter & Gamble, L'Oréal S.A., Unilever, Avon Products, Inc., Clarins Group, The Estée Lauder Companies Inc., Johnson & Johnson, KAO Corporation, Shiseido Company, Limited, and Henkel AG & Co. KGaA.

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