The global professional hair oils market is expected to grow at a CAGR of 8%, reaching more than US$450 million by 2018.
Largo, MD -- (SBWIRE) -- 01/23/2014 -- Our Analysis
The demand for professional hair oils is expected to increase at a considerable pace over the forecast period. Professional hair oils market in revenues constitutes more than 15% of the overall conditioners market. Ever since the launch of first professional hair oil product, Moroccanoil in 2006, this category has witnessed dramatic increase in sales because it was a breakthrough innovation. The ingredients present in these oils such as Moroccan Oil, Avocado Oil, and Macadamia oil make these products unique in terms of function. The presence of these rare ingredients makes most of these products expensive, in spite of which, the demand is huge because of the uniqueness of such products. The increase in demand could be attributed to changes in merchandising by salon chains and independent salons. Additionally
In Asia, the main reason for demand increase has been heavy promotional activities over the Television, while in Europe hair oils have been driving the market. Europe stands tall among all the continents, leading with the highest market share, while Latin America shows the highest growth in terms of sales. This shows that the Latin American market has an untapped potential for the industry and the manufacturers can expect huge profits in this continent.
While companies such as Moroccanoil and L’Oreal are the major players in the global professional market, few outlets such as the drug store chains and the mobile hairdressers are disrupting the market by diverting the products and selling them in different packages. Diversion has been a critical issue to certain extent and is being taken seriously by many manufacturers.
The IndustryARC report on the Global Professional Hair Oils Market identifies many such insights and M&A opportunities, besides providing a detailed analysis of the professional hair care services.
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Press Release Source : AB Newswire