The global hair care market is anticipated to grow significantly at a CAGR of 4.1% over the forecast period (2024-2031). The key companies across the globe are adopting different business strategies including expanding their geographic presence, R&D activities, new product approvals, mergers & acquisitions, partnerships, and collaborations to increase market share. For instance, in January 2021, Kao Corp., a manufacturer of premium beauty brands based in Japan has partnered with Nykaa, a lifestyle retailer. Both the companies have developed a new beauty brand named Bioré, which will operate globally through the stores of Nykaa.
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In May 2021, Atulya brand introduced Veg keratin products which include hair conditioner, shampoo, hair mask, and hair oil. The products will be completely organic that chemical-free and cruelty-free. Furthermore, the products will be developed by using plant-based materials which will prevent the hair from damage and replenishes the protein for curing breakage issues of hair. The products will be launched for the consumer of India, as the customers in India highly rely on natural products more. The brand has also introduced a wide range of Wheat-based protein hair care products. The Atulya is the brand owned by Beacon Bio Life Sciences Pvt. Ltd. The Veg Keratin product has been launched as an alternative to animal keratin in India to extend the support to the ‘SwitchtoVegKeratin’ Campaign. Unlike the other animal keratins which are formulated, the Atulya’s Veg Keratin and Wheat Protein product range are free from the Parabens and Sulphate which damages the hair.
The rising trend of colored air among the youth population is anticipated to propel the growth of the market. For instance, in January 2021, St. Botanica launched ‘Go colored Purple Shampoo’. The premium go-to haircare collection, which comprises the absolute bleached hair Go Purple Shampoo. The product is developed exclusively for bleached and blonde hair and it has been formulated with linseed oil, purple mica, and sunflower oil, which will assist in maintaining the color-treated hair for a longer time. The Indian-origin company has launched the product under the Go Range segment, enriched with potent naturally derived ingredients. Hence, owing to these aforementioned factors, the growth of the hair care market is likely to be witnessed over the forecast period.
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Market Coverage
- Segment Covered-
o By Product Type
o By Distribution Channel
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Kao Corp., L’oreal SA, The Procter & Gamble, inc., Unilever Group, Johnson & Johnson Services, Inc., Revlon Inc. Oriflame Holding AG, Shieseido Co. Ltd, and Amway Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Hair Care Market – Segmentation
By Product Type
- Shampoo
- Conditioner
- Hair Oil
- Hair Colorants
- Hair Styling Products
- Others (Waxes, Paste, Mousses, Hair Treatment Products)
By Distribution Channel
- Offline
o Supermarket/Hypermarket
o Convenience Stores
o Specialty Stores
o Pharmacies/ Drug Stores
- Online
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