Unlocking the Growth Potential: Hair Care Market’s USD 19.67 Billion Surge (2022-2027) Fueled by Social Media and Blogging Impact – Technavio Analysis
NEW YORK, NY, December 05, 2023 /24-7PressRelease/ — The hair care market is expected to grow by USD 19.67 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 4.18% during the forecast period. Influence through social media and blogging is notably driving the hair care market. However, factors such as adverse health effects of chemical or synthetic components used in hair care products may impede market growth. The market is segmented 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).
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Key Segment Analysis
• The market share growth by the hair color segment will be significant during the forecast period. The aging population is an important driver for the growth of this segment. It is due to the elderly’s use of hair dyes for graying or white hair, but changes in fashion trends and the availability of new shades are making it more common for young people to opt for different types of hair dye. The hair color segment is expected to increase during the forecast period due to a growing number of cases of premature greying.
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Geographical Market Analysis
• APAC is estimated to contribute 34% to the growth of the global hair color market during the forecast period. The main revenue contributors to the APAC region are China, Japan, and India. The growth rate of Disposable Income and Household Total Consumption Expenditure Per capita by the consumers is one of the most significant factors contributing to this region’s development. In addition, consumers are interested in shopping for fashionable and style-oriented hair care products like mists, dry shampoos, hair sprays, serums or hair growth aids that they consider to be better than buying everyday basic needs including shampoo and conditioner.
Company Insights
The hair care market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including 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
View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
Related Reports:
The hair color market size is estimated to grow at a CAGR of 8.54% between 2022 and 2027. The market size is forecast to increase by USD 20,389.76 million.
The hair wigs and extension market size is projected to increase by USD 5,892.01 million and the market size is estimated to grow at a CAGR of 9.34% between 2022 and 2027.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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