Hair care market to grow by USD 19.6777 billion from 2022 to 2027; 34% of growth will originate from APAC - Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The hair care market size is expected to grow by USD 19,677.67 million during 2022-2027, progressing at a CAGR of 4.18% as per the latest Technavio market research report. APAC is going to have lucrative growth during the forecast period. About 34% of the market's overall growth is expected to originate from APAC. China and Japan are the key markets for hair care in APAC. Market growth in this region will be faster than the growth of the market in the European and North American regions. The rising disposable income and household final consumption expenditure per capita among consumers will facilitate the hair care market growth in APAC over the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

Hair Care Market: Influence through social media and blogging to drive growth

The influence of social media and blogging is a major driver for hair care market growth. Online retail decision-making is highly influenced by endorsement and promotion through social media platforms, where online retailers connect and obtain feedback from customers. They act as decisive tools for creating new products, tracking brand and product reviews, and launching marketing campaigns. Hence, such factors drive the hair care market during the forecast period.

Hair Care Market: Growing Adoption Of Home Salon Services 

The growing adoption of home salon services is a hair and scalp care market is an emerging hair care market trend. Personalized home salon service is an emerging trend in various regions. The number of app-based salon service providers that offer at-home grooming services has grown significantly in the past decade. Furthermore, mobile apps enable consumers to order salon services and meet makeup artists at the given address. Hence, such trends fuel the market growth during the forecast period.

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Some of the key Hair Care Market Players:

The hair care market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Amway Corp., CavinKare Pvt. Ltd., Chatters GP Inc., Edgewell Personal Care Co., Emami Ltd., Godrej Consumer Products Ltd., Henkel AG and Co. KGaA, John Paul Mitchell Systems, Johnson and Johnson Services Inc., Kao Corp., LOreal SA, NATULIQUE Ltd., Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., Unilever PLC, Wella International Operations Switzerland Sarl, Truefitt and Hill, and Hanz de FUKo

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Hair Care Market: Segmentation Analysis

This market research report segments the hair care market by Product (Hair color, Shampoo, Conditioner, and Others), Distribution Channel (Offline and Online), and Geography (Europe, APAC, North America, South America, and Middle East and Africa).

• The hair care market share growth in the hair color segment will be significant for revenue generation.
• This market has attained maturity in developed countries such as the US, Japan, the UK, and Germany. However, Brazil, China, and India are the three major target markets for shampoo marketers
• The hair color market is growing, due to the rising number of salons and spas globally. The rising cases of premature greying of hair are responsible for the growth of the hair color segment during the forecast period. 

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The hair loss treatment products market is estimated to grow at a CAGR of 4.6% between 2022 and 2027. The size of the market is forecast to increase by USD 2,216.5 million. This report extensively covers market segmentation by product type (vitamins and supplements, shampoos and conditioners, and others), gender (men, women, and children), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The rising hair-related issues among consumers are notably driving the market growth.

The Laser Hair Loss Treatment Market size is projected to increase by USD 76.77 million and the market size is estimated to grow at a CAGR of 5.2% between 2022 and 2027. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario. The increased prevalence of hair loss is driving the growth of the market. 

Table of Contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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SOURCE Technavio