BROOKLYN, NEW YORK, USA, November 30, 2023 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Hair Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, the global hair care market size reached US$ 86.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 124.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.
Hair Care Market Overview:
Hair care refers to a set of practices and products designed to maintain the health, cleanliness, and aesthetics of human hair. It encompasses a wide range of activities, including washing, conditioning, styling, and treating the hair to address various needs. Hair care routines aim to promote scalp health, prevent damage, and enhance the overall appearance of hair. Shampoos and conditioners are fundamental components of hair care, helping to cleanse, moisturize, and nourish the hair and scalp.
Additionally, styling products such as hairsprays, gels, and serums are used to achieve desired looks. Hair care is not only about cosmetic preferences but also involves addressing specific concerns like dryness, frizz, or damage, often requiring specialized treatments. Regular hair care practices contribute to the well-being and aesthetics of one’s hair, reflecting personal grooming and self-care routines.
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Hair Care Market Trends:
The global market is majorly driven by the increasing awareness of personal grooming and self-care. As consumers prioritize their appearance and overall well-being, the demand for diverse and specialized hair care products has accelerated. The market has witnessed a shift towards natural and organic ingredients, driven by a preference for products perceived as healthier and environmentally friendly. Furthermore, rapid technological advancements in hair care formulations have also played a significant role in market growth. The development of innovative ingredients, such as biotin, keratin, and plant-based extracts, addresses specific hair concerns and provides targeted solutions.
Advancements in product delivery systems, such as spray-on treatments and time-release formulations, enhance the effectiveness and convenience of hair care products. Besides, social media and influencers have become powerful catalysts for market growth. The beauty and lifestyle trends promoted on platforms like Instagram and YouTube influence consumer choices, driving the adoption of new products and routines. The desire to achieve trending hairstyles and follow the advice of beauty influencers contributes to the dynamic nature of the hair care market.
Moreover, the growing diversity and inclusivity in beauty standards also impact the market. Hair care brands are recognizing and catering to a broader range of hair types, textures, and styles, addressing the unique needs of diverse consumer groups. This inclusivity has led to the development of specialized products for curly, coily, or textured hair, reflecting a more comprehensive and inclusive approach to hair care. E-commerce has emerged as a key driver of market growth, providing consumers with convenient access to a vast array of hair care products. Online platforms offer detailed product information, reviews, and personalized recommendations, influencing purchasing decisions and driving market expansion. Additionally, subscription services and direct-to-consumer models have gained popularity, enhancing consumer convenience and brand loyalty.
This, in turn, is providing a boost to the market. The COVID-19 pandemic has also influenced the hair care market, with consumers focusing on at-home hair care solutions during lockdowns and restrictions on salon visits. This period has witnessed a rise in DIY hair care routines, contributing to increased sales of products like home hair color kits, styling tools, and deep conditioning treatments. As consumer preferences continue to evolve, the hair care industry adapts to an array of innovative products and solutions, ensuring its sustained growth in the dynamic beauty and personal care market.
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Competitive Landscape with Key Players:
• KAO Group
• L’Oréal USA, Inc.
• The Procter & Gamble (P&G) Company
• Unilever PLC
• Johnson & Johnson, Inc.
Key Market Segmentation:
Breakup by Product Type:
• Hair Color
• Hair Styling Products
Breakup by Distribution Channel:
• Supermarkets and Hypermarkets
• Specialty Stores
• Convenience Stores
• Online Retailers
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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