Luxury Hair Care Market Size Worth $31.50 Billion By 2027 | CAGR: 5.9%: Grand View Research, Inc.

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Sep 10, 2020, 06:49 ET

SAN FRANCISCO, Sept. 10, 2020 /PRNewswire/ -- The global luxury hair care market size is anticipated to reach USD 31.50 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.9% from 2020 to 2027. Increasing e-commerce sales and growth of the male wellness sector are some of the major factors contributing to the rising demand for the product worldwide.

Luxury haircare brands are expected to focus more on the packaging design of products to appeal to an expanding 'influencer generation' in the country who keep on sharing their haircare moments with their friends or/and followers on social media. OUAI, a Los Angeles-based disruptive luxury haircare brand, studied consumer trends extensively on social media to power a product strategy.

Key suggestions from the report:

In terms of product, the shampoos segment led the market and accounted for 31.4% share of the overall revenue in 2019
Asia Pacific held the largest share of 39.3% in 2019
Acquisitions emerged as the key strategy deployed by market players to stay abreast of the competition.

Read 80 page research report with ToC on "Luxury Hair Care Market Size, Share & Trends Analysis Report By Product (Shampoos, Hair Coloring Products), By Distribution Channel (Specialty Stores, E-commerce), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/luxury-hair-care-market

Asian consumers, most notably Chinese, Japanese, and Indians, see luxury cosmetics (including hair care products) as a form of social capital that marks them apart in society. High-end consumers in the Asian markets increasingly prefer luxury haircare brands that resonate on a cultural level. In the coming years, multinational luxury hair care firms are expected to introduce boutique brands to incorporate local aesthetics to increase product appeal among consumers.

Asia Pacific emerged as the largest regional market for luxury hair care in 2019. This region is forecast to maintain its lead throughout the forecast timeframe, given the increasing popularity of prestige products among an expanding consumer base. In an effort to stem the rapid spread of the coronavirus, countries across the Asia Pacific, most notably India, continue to push for social distancing rules, thereby forcing individuals to stay indoors. Such moves, in turn, are expected to have a negative impact on the growth of the regional market, mainly throughout the remainder of 2020.

The market is characterized by intense competition, with international brands dominating the market. The market is likely to mirror the trends prevalent within the luxury skincare space over the forecast period. In this respect, CBD-based luxury hair care products are expected to gain traction, notably among millennials in the U.S.

Grand View Research has segmented the global luxury hair care market based on the product, distribution channel, and region:

Luxury Hair Care Product Outlook (Revenue, USD Million, 2016 - 2027)

Shampoos
Conditioners
Hair Coloring Products
Hair Styling Products
Hair Oils
Others

Luxury Hair Care Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

Supermarkets & Hypermarkets
Departmental Stores
Specialty Stores
E-commerce
Others

Luxury Hair Care Regional Outlook (Revenue, USD Million, 2016 - 2027)

North America

The U.S.

Europe

The U.K.
France

Asia Pacific

China
India

Central & South America

Brazil

Middle East & Africa

List of Key Players of Luxury Hair Care Market

L'Oréal
Estee Lauder Companies
SEVEN, LLC.
Alcora Corporation
Kao Corporation
KOSÉ Corporation.

Find more research reports on Beauty & Personal Care Industry, by Grand View Research:

Vegan Cosmetics Market – The global vegan cosmetics market (Hair Care, Skin Care, Makeup) size was estimated at USD 12.9 billion in 2017, Changing perception of consumers towards animal-free products, coupled with growing popularity of environmentally sustainable products, is fueling the demand.
Natural Cosmetics Market – The global natural cosmetics market size was estimated at USD 34.12 billion in 2018 and is projected to register a CAGR of 5.01% from 2019 to 2025.
Halal Cosmetics Market – The global halal cosmetics market (Hair Care, Skin Care, Makeup) size was estimated at USD 23.03 billion in 2018 and is projected to expand at a CAGR of 12.3% over the forecast years.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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