Meticulous Research®—a leading market research company, published a research report titled, ‘Hair Care Market by Product [Shampoo, Conditioner, Oil, Color, Serum, Styling Products (Wax, Spray, Gel)], Type [Organic, Synthetic], Distribution Channel [Supermarket, Pharmacies, Salons, Online], End User [Male, Female, Kids]—Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the hair care market is projected to reach $121.08 billion by 2030, at a CAGR of 4.1% from 2023 to 2030.
The growth of this market is attributed to the growing demand for organic hair care products, the increasing spending on beauty and personal products, the rising hair-related problems, and the growing demand for cosmetology services for hair care. In addition, the increasing penetration of e-commerce and increasing focus on hair styling in developing countries offer market growth opportunities.
The hair care market is segmented by Product (Shampoos, Conditioners, Hair Oils, Hair Colors, Hair Serums, Hair Styling Products [Hair Wax, Hair Sprays, Hair Styling Gels, Other Hair Styling products] and Other Hair Products), Type (Organic, Synthetic), Distribution Channel (Supermarkets & Hypermarkets, Pharmacies, Beauty Salons, Online Stores), End User (Males, Females, Kids), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Based on product, in 2023, the shampoos segment is expected to account for the largest share of the hair care market. Shampooing is the most usual form of cleansing hair. The availability of a variety of shampoos for different demographics, hair problems, or purchasing power is the key factor contributing to the large market share of this segment.
Based on type, in 2023, the organic segment is projected to register the highest CAGR over the forecast period. The growth of this segment is attributed to the rising demand for organic hair products due to their benefits as people are becoming more aware of environmental and health issues. Furthermore, synthetic products contain many harmful chemicals, which has shifted consumers’ inclination toward purchasing organic products.
Based on distribution channels, in 2023, the supermarkets & hypermarkets segment is expected to account for the largest share of the hair care market. Supermarkets & hypermarkets provide significant benefits to customers while shopping for hair care products, including the availability of various products and discounted prices. People prefer purchasing hair care products from supermarkets and hypermarkets due to the freedom of selection that comes with a wide range of hair care products for various hair problems.
Based on end user, in 2023, the females segment is expected to account for the largest share of the hair care market. The availability of a number of products specifically designed to resolve hair problems in women and a high focus on hair care to improve appearance are the factors supporting the large market share of this segment.
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global hair care market. A large proportion of the population using hair care products, the growing middle-class population coupled with increased spending on personal care, and inclination towards the use of organic or herbal products among the consumers in Asia-Pacific are the factors supporting the large share of this market.
Key companies operating in the hair care market are L’Oréal S.A. (France), The Procter & Gamble Company (U.S.), Kao Corporation (Japan), Unilever PLC (U.K.), Shiseido Company, Limited (Japan), Johnson & Johnson Services, Inc. (New Jersey), Avon Products, Inc. (U.K.), Revlon Consumer Products Corporation (U.S.), Beiersdorf AG (Germany), Henkel AG & Co. KGaA (Germany), Natura &Co Holding S.A. (Brazil), Aveda Corporation (U.S.), and Oriflame Cosmetics S.A. (Switzerland).
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