The global hair care market was valued at USD 99.53 billion in 2023. The market is anticipated to grow to USD 147.49 billion by 2030, exhibiting a CAGR of 5.8% growth during the forecast period of (2024-2030).

Hair care products help women and men keep their hair healthy and clean and protect them from damage. These hair care products include serum, shampoo, oil, conditioner, and others used in hair nourishment and are available in different forms such as lotion, liquid, cream, and gel.

This information is provided by Fortune Business Insights™ in its research report titled “Hair Care Market, 2024-2030.”

Information Source:

https://www.fortunebusinessinsights.com/hair-care-market-102555 

Top Key Companies Covered in the Hair Care Market: 

• L'Oréal S.A (France)
• Coty Inc. (U.S.)
• Henkel AG & Co. KGaA (Germany)
• Unilever PLC (U.K.)
• The Procter & Gamble Company (U.S.)
• Revlon, Inc. (U.S.)
• Kao Corporation (Japan)
• Natura & Co. (Brazil)
• Johnson & Johnson Services, Inc. (U.S.)
• Aveda Corporation (U.S.)

Segments:

Shampoo Segment to Dominate Market due to its Hair Enrichment Content

Based on product, the market is divided into hair colorants, shampoo, conditioner, and hair oil, and others. The shampoo segment is anticipated to lead the market as it possesses various hair enrichment content such as mineral oils, vitamins, botanical extracts, and others, which help in hair growth.

Hypermarket/Supermarket to Lead the Market Due to Shopping Convenience

Based on distribution channels, the market is divided into supermarkets/hypermarkets, specialty stores, online stores, and others. The hypermarket/supermarket segment is anticipated to lead the market, owing to a wide range of goods available in ample amounts under a single roof, thereby minimizing the need to browse multiple stores.

Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report offers:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments such as product launches, partnerships, mergers, and acquisitions.

Drivers and Restraints:

Rise in the Number of Hair-Related Issues to Support Market Growth

The male population is progressively witnessing hair issues, such as hair loss, greying, and hair loss, which are expected to increase hairdressing product utilization. Moreover, the aging population being more susceptible to hair problems than the youth is expected to surge the demand for hairdressing products.

An increasing number of people with sensitive hair are experiencing an allergic reaction to hair cleansing products such as serums, shampoo, cleansers, and others owing to the toxic chemical use, thereby hindering the hair care market growth. 

Regional Insights:

Europe to Lead the Market Owing to the Demand from Beauty-Conscious Consumers

Europe dominated the market in 2022 as it held the highest position in the global hair care market share from 2023-2030. This is due to the presence of a highly beauty-conscious population that will drive the adoption of hair grooming products.

North America is predicted to witness subsequent presence of hair care companies in the market due to people’s high expenditure on personal care, including hair-based products.

Asia Pacific is anticipated to hold a major market share. The countries in this region witness intense air pollution leading to the consistent cleaning of hair. Moreover, the thriving growth of the spa business possibly helps in adopting scalp repair-related products in the region.

South America is estimated to display a vital presence in the market owing to the booming growth of the urban population, supporting to intensification of the number of people giving importance to their hair care maintenance.

Competitive Landscape:

Key Players in the Market Inclining toward Eco-Friendly Solutions and Effective Strategies

Nowadays, key players in the market are adopting effective strategies, marketing, and advertising strategies, incorporating environment-friendly packaging solutions, and developing organic products to draw consumer’s interest.

Key Industry Development:

• April 2022: The Wella Company, the global beauty company, acquired Briogeo, a rapidly growing scalp oil brand, to grow its eco-friendly cosmetic products portfolio globally. Briogeo’s shampoo’s and conditioner products are made of formulations of vitamins, antioxidants, and natural oils.