BANGALORE, India, Feb. 22, 2022 /PRNewswire/ — The Global Hair Care Market is Segmented by Type (Hair Styling Products, Shampoo, Conditioner, Hair Color), by Application (Hypermarkets and Supermarkets, Drugstores and Pharmacies, Specialty Stores, Department Stores): Opportunity Analysis and Industry Forecast, 2021–2028. It is published in Valuates Reports under the Cosmetic Procedures Category.
The Hair Care Market size is projected to reach USD 7655.5 Million by 2027, from USD 4870 Million in 2020, at a CAGR of 6.6% during 2021-2027.
Major Factors Driving the Growth of the Hair Care Market:
Increasing demand for natural hair care products, adoption of Long Hair Among men, the growing trend of hair coloring as a style statement among millennials, and new product innovations to meet the need of different hair types are the major factors driving the growth of the hair care market.
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HAIR CARE INDUSTRY TRENDS
One of the primary factors driving the hair care market’s growth is the rising demand for natural hair care products. Because celebrities’ natural looks influence them, the majority of consumers are increasingly looking for products that contain natural ingredients. Furthermore, there is a growing preference for natural products in the face of rising health concerns about the use of chemical products, which have been linked to hair breakage, hair loss, and other issues. As a result, many specialty retailers and beauty product manufacturers have expanded their natural hair product portfolios, which will boost hair care product sales in Africa in the future.
The rising popularity of colored hair among the young population is expected to drive up demand for dyes and colors, particularly among women. Aside from the rising trend of having long hair, men’s adoption of multiple hairstyles has resulted in an increase in hair styling product consumption. This trend is expected to contribute to the global hair care market.
Grooming products are in high demand as a result of growing westernization and increased spending capacity. The trend of men flexing their long hair and adopting unique hairstyles, particularly in urban areas, is expected to drive up the hair care market.
Several companies are offering new customized products to meet specialized consumer needs, which range from cleansing, styling, softening, and strengthening to scalp care, damage repair, thermal protection, frizz control, color retention, moisturization, and bond-building, due to the diversity and complexity of hair types and concerns. This, combined with rising awareness of hair-related issues as a result of climate change, air pollution, and other environmental factors, is one of the major drivers of hair care market growth.
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HAIR CARE MARKET SHARE
Based on type, the hair color segment is expected to be the most lucrative. This is due to increased spending capacity on personal care products, which will increase demand for advanced hair colorants in spas, salons, and other similar establishments.
Based on application, the Hypermarkets and Supermarkets segment is expected to be the most lucrative because a wide range of goods are available under one roof, eliminating the need to shop in multiple stores. Similarly, the ability of the consumer to see the item reduces the likelihood of purchasing counterfeit goods.
Based on region, North America is expected to be the most lucrative because of the presence of large multinational companies that provide high-quality hair care products such as shampoo, color, conditioner, and styling products.
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– Due to the COVID-19 pandemic, the global Hair Color market size is estimated to be worth USD 26510 Million in 2022 and is forecast to a readjusted size of USD 43250 Million by 2028 with a CAGR of 8.5% during the review period.
– Due to the COVID-19 pandemic, the global Hair Care Appliances market size is estimated to be worth USD 5501.7 Million in 2022 and is forecast to a readjusted size of USD 8073 Million by 2028 with a CAGR of 6.6% during the review period.
– The global cosmetics market size was valued at USD 380.2 Billion in 2019 and is projected to reach USD 463.5 Billion by 2027, registering a CAGR of 5.3% from 2021 to 2027.
– Due to the COVID-19 pandemic, the global Hair Styling Products market size is estimated to be worth USD 16330 Million in 2022 and is forecast to a readjusted size of USD 20430 Million by 2028 with a CAGR of 3.8% during the review period.
– The global Professional Hair Care market size is projected to reach USD 19530 Million by 2027, from USD 15110 Million in 2020, at a CAGR of 3.3% during 2021-2027.
– Shampoo Market Share: Europe is the largest market with about 26% market share. North America is the follower, accounting for about 25% market share. The global Shampoo market size is projected to reach USD 39880 Million by 2028, from USD 35640 Million in 2021, at a CAGR of 1.6% during 2022-2028.
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