Sarasota, FL -- (SBWIRE) -- 12/21/2018 -- Global hair care market was valued at around USD 89.08 billion in 2017 and is expected to reach approximately USD 110.70 billion in 2024, growing at a CAGR of slightly above 3.15% between 2018 and 2024.
The global hair care market has a huge industry potential comprising of both men and women hair care products. The numerous problems related to hair care such as hair loss, hair thinning, grey hair, hair damaging, and several other factors are contributing to the stable growth of the global hair care market. The products can be made from natural as well as synthetic ingredients amalgamated with other moisturizing and cleaning substances in order to protect and nourish hair from dryness, pollution, dandruff, and other hair-related problems.
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Budding economies are expected to hold a significant share of global market owing to the increasing number of fashion-conscious users and growing concerns about hair-related problems along with innovative products. Increase in customer spending on various beauty and personal care products is projected to drive the hair care market growth. Ease of availability and launch of customized products are also important factors propelling the growth of this market.
Technological innovations in the hair care products and uplift in the male grooming patterns will result in flourishing demand for professional products, thus contributing to the growth of the global hair care market. Global hair care market has been plagued by numerous factors including concerns over expensive product cost, the intense competition offered by global and local players, high manufacturing and marketing cost, and many others. Due to these factors, various industry players are looking for ways that can curtail cost, improve performance, and lead to new and advanced product manufacturing offering customer satisfaction. Expansion of the retail business chains across the world and growing demand for organic and environment-friendly products are expected to offer numerous opportunities to the global hair care market.
Segmentation of the hair care market is based on product and distribution channel. The product segment is fragmented into hair oils, conditioners, colorants, hair styling products, shampoos, and others (hair loss treatments, hair accessories). Distribution channel segment is further bifurcated into direct selling, e-commerce, pharmacies, and hypermarkets & retail stores. Regional segmentation of the global hair care market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with further country wise bifurcation into major countries such as the U.S., UK, France, Germany, China, Japan, India, and Brazil.
The major players operating in the global hair care market are Oriflame Holding AG, L'Oreal Group, Amway, Johnson & Johnson, Unilever, Shiseido Company Ltd., Beiersdorf AG, Church & Dwight Co. Inc., NaturaCosmeticos SA, and Procter & Gamble Co., among others.
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The report segments the global hair care market as follows:
Global Hair Care Market: Product Segment Analysis
Hair Styling Products
Others (hair loss treatments, hair accessories)
Global Hair Care Market: Distribution Channel Segment Analysis
Hypermarkets & Retail Stores
Global Hair Care Market: Regional Segment Analysis
The Middle East and Africa