According to the report published by Market Research Future (MRFR), the global hair care market is anticipated to exhibit steady but constant growth in the foreseeable future. The market is on the verge of entering a phase of maturity and has been estimated to strike a CAGR of 3.5% during the forecast period. The availability of a wide spectrum of products is one of the key factors responsible for motivating consumer behaviour into purchasing. The key players are continually endeavouring to pursue product development and innovations for attracting a larger customer base.
The increasing awareness about the harmful effects of some of the ingredients such as sodium lauryl sulfate, peroxide, diethanolamine, etc. is poised to restrict the expansion of the hair care market in the forthcoming years. However, the introduction of ayurvedic and herbal brands have capitalized on the shortcomings of the conventional products. This, in turn, is presumed to guide the growth trajectory of the hair care market through the projection period.
By product, the global hair care market has been segmented into hair styling, shampoo, hair colorant, conditioners, and hair oil.
By application, the global hair care market has been segmented into hair treatment and scalp treatment.
By gender, the hair care market has been segmented into male and female.
By distribution channel, the global hair care market has been segmented into hypermarkets, e-commerce, and pharmacies.
By end-user, the hair care market has been segmented into home care and salons.
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The global hair care market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Europe commanded the largest share of the market in 2016 which accounts for 34.5% share. The factors such as the presence of developed economies and flourishing cosmetic industry are likely to catalyze the growth of the hair care market in the region.
Americas is the second-largest market for hair care and is poised to grow at a steady pace through the forecast period. The Middle East & Africa is likely to garner a limited share of the hair care market owing to poor socio-economic conditions.
Asia Pacific is prognosticated to strike a relatively higher CAGR of 3.815 during the forecast period. Fast-developing economies such as India, Australia, China, etc. are presumed to emerge as the primary drives of the regional market. The Fast-Moving Consumer Good (FMCG) sector of India has expanded exponentially in the recent years. It is expected to catapult the hair care market of the region on the growth trajectory over the next couple of years. In addition, the changes in lifestyle and rising disposable income are anticipated to augment the market over the assessment period.
Some of the key players profiled in the report are Unilever, Shandong Baisheng Biotechnology Co., Ltd, L’ORÉAL, OLVEA Group, REVLON Inc, Shiseido Company, Limited, Henkel Corporations (Schwarzkopf Professional), Oriflame Cosmetics AG, Kao Corporation, Johnson & Johnson Services, Inc., Amway, and Procter & Gamble Co.
In December 2018, Glam squad, a specialist in hair care, has launched its line of hair care products.
In December 2018, Blossom Kochhar Aroma Magic has announced the launch of COCO store in Kolkata, India, that houses aromatherapy-based skin, body and hair care products.
In August 2018, Emmi, an Indian conglomerate company, has made a decision to spruce up the Kesh King brand by a more premium packaging and modifying its formulation to retain its pole position in the Ayurvedic hair oil market in the nation.
In December 2018, Olaplex, a former salon-only vegan hair care brand, has launched shampoo and conditioner in the UK for home usages.
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