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Hair Care Products Market to Witness Increase in Revenues by 2024 - 2031 | L'Oréal S.A., Beiersdorf AG, Procter & Gamble (P&G)

07-18-2024 11:27 AM CET | Consumer Goods & Retail

Press release from: CMI

Hair Care Products Market

Hair Care Products Market

Market Overview:

The hair care products market is estimated to be valued at USD 99.47 Bn in 2024 and is expected to reach USD 124.01 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

Market Dynamics:

The hair care products market is expected to witness significant growth over the forecast period owing to growing consumption among millennial population and increasing spending on personal grooming products. The millennials, who comprise over 25% of the population, are major consumers of hair care products. Their growing disposable income coupled with changing hairstyling trends is expected to fuel the demand for hair masks, serums and styling products. Further, rising awareness about hair issues such as dandruff, hair fall and dryness is also driving the consumers towards specialized hair care products with added ingredients that offer solution to these problems. . This is encouraging companies to launch tailored products targeted towards different hair problems.

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The key drivers for this market include growing focus on physical appearance and increasing spending on hair styling and grooming products among millennial population. In addition to routine hair care needs, there is rising demand for specialty hair care products aimed at specific hair concerns.

Hair Care Products Market Drivers

Increasing Consumer Spending Capability on Personal Care Products

The rising disposable incomes of consumers across developing countries like India and China is driving greater spending on personal care and hair care products. As people have more discretionary income remaining after spending on essential items, they are able to dedicate larger portions of their budgets towards "looks and appearance" products like shampoos, conditioners, hair colors, serums etc. This rising expenditure power of target customers in emerging markets is a major factor fueling the growth of the global hair care products industry.

Hair Care Products Market Opportunity

Rising Demand for Natural and Organic Hair Care Lines

With growing health awareness, consumers are increasingly shifting from chemical-laden products to natural and organic hair care alternatives. Many people are concerned about potential long-term effects of synthetic ingredients in regularly used personal care items. They prefer natural extracts, essential oils and other organic components promising mild formulation without harsh chemicals and side effects. This change in consumer preference opens up opportunities for startups and major vendors who introduce sustainable, eco-friendly hair care lines made from plant-based, non-toxic materials. The demand for natural hair care segment is expected see substantial rise going forward.

Hair Care Products Market Trends

Customization and Premiumization Driving Industry Advancement

One of the major ongoing trends in the hair care market is the growing consumer demand for customized and premium products tailored to their individual hair needs, concerns and preferences. This has propelled the introduction of solutions targeted towards specific hair types and textures like dry, damaged, color treated or curly mane. Furthermore, consumers are willing to pay higher prices for luxury brands providing salon-like personalized experiences. This trend is leading manufacturers to invest more in R&D to come up with innovative, results-oriented formulations and premium packaging, thereby driving the market toward higher profitsability and value growth.

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Top Companies Featured in This Report:

★ L'Oréal S.A.
★ Beiersdorf AG
★ Procter & Gamble (P&G)
★ Unilever
★ Johnson & Johnson Services Inc.
★ Amorepacific
★ The Estée Lauder Companies Inc.
★ Kanebo Cosmetics Inc.
★ Himalaya Global Holdings Ltd.
★ Shiseido Co., Ltd.,
★ Lotus Herbals Pvt. Ltd.
★ Natura & Co.
★ Moroccanoil
★ The Estee Lauder Companies Inc.
★ Perse Beauty Inc.
★ John Master's Organic
★ Vogue International LLC (OGX)
★ Real Purity Inc.
★ Essential Care (Organics) Ltd.
★ Rahua Classics
★ Natulique
★ Art Naturals

Market Segmentation:

By Product Type:

★ By Product Type: Shampoo , Conditioner & Mask , Hair Oil , Hair Gels , Hair Color , and Others (Serum, Comb, etc.)
★ By Distribution Channel: Hypermarket & Supermarket , Pharmacy & Drug Stores , Specialty Store , Online , and Others

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Inquiries Addressed in this Report include:

📈 What was the size of the Hair Care Products Market in 2024, and what is the projected value by 2031?

📈 What is the present global market landscape for the Hair Care Products Market?

📈 What strategies offer optimal opportunities for growth maximization in the business?

📈 What recent trends are shaping the Hair Care Products Market?

📈 How does the market share of Hair Care Products Market revenue, sales, and size vary across specific geographical regions?

📈 Who are the prominent industry players in the Hair Care Products Market?

📈 Which segment of the Hair Care Products Market is experiencing heightened demand?

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Hair Care Products sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/1396

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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