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Luxury Hair Care Products Market Scope, Share, Size And Forecast 2024-2033
Luxury Hair Care Products Market Scope
As per the report, the luxury hair care products market size has grown strongly in recent years. It will grow from $22.47 billion in 2023 to $24.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The luxury hair care products market size is expected to see strong growth in the next few years. It will grow to $32.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
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E-Commerce Growth Fuels Luxury Hair Care Market Expansion
Increasing penetration of e-commerce platforms is expected to propel the growth of the luxury hair care market going forward. The E-commerce retail market refers to buying of goods using the internet, and the transfer of money and data to execute these transactions. The E-commerce retail market helps the luxury hair care market with easy transactions, selling items and services directly to clients, and delivering products to the home. For instance, in September 2022, according to the International Trade Administration, a US-based Department of Commerce, Consumer e-commerce now makes up 30% of the UK's overall retail sector (up from 20% in 2020), with an annual e-commerce revenue of more than $120 billion. In 2021, 82% of people in the UK will have made at least one online purchase. Therefore, the growing penetration of e-commerce platforms is expected to boost demand for luxury hair care during the forecast period.
Popularity In Product Innovation
Product innovation is a key trend gaining popularity in the luxury hair care market. Many companies operating in the luxury hair care sector are looking for new product innovations to strengthen their position in the luxury hair care market. For instance, in May 2022, Medimix, an India-based manufacturer of cosmetic products including skin care and hair care, launched organic total care shampoo in its hair care portfolio. Medimix's total care shampoo consists of wheat protein and other nine natural herbs such as tea tree oil, rosemary oil, neem, wild ginger, and others in a unique formula, which will help in minimizing hair loss, act as anti-dandruff, and conditioning hair.
The luxury hair care products market covered in this report is segmented -
1) By Product Type: Shampoos, Conditioners, Hair Coloring Products, Hair Styling Products, Hair Oil, Other Product Types
2) By Distribution Channel: Supermarkets and Hypermarkets, Departmental Stores, Specialty Stores, E-commerce, Other Distribution Channels
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Major companies operating in the luxury hair care products market report are L'Oreal S. A., The Estee Lauder Companies inc., Seven LLC, Alcora Corporation, Kao Corporation, KOSÉ Corporation, Shiseido Company Limited, Johnson & Johnson Inc., Unilever plc, Jose Eber Hair, Oribe Hair Care LLC, Rahua (Amazon Beauty Inc. ), Aesop, The Procter & Gamble Company, CFEB Sisley, Olaplex Inc., Philip B. Botanicals, Estee Lauder Inc., Shiseido Company Limited, Aveda corporation, Bumble and bumble Products LLC, Christophe Robin, Leonor Greyl, Sachajuan Haircare, Amika, Ouai Haircare, John Paul Mitchell Systems, Revlon Consumer Products Corporation, Schwarzkopf Professional, Wella AG
Contents of the report:
1. Executive Summary
2. Luxury Hair Care Products Market Report Structure
3. Luxury Hair Care Products Market Trends And Strategies
4. Luxury Hair Care Products Market - Macro Economic Scenario
5. Luxury Hair Care Products Market Size And Growth
…..
27. Luxury Hair Care Products Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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