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The global hair care market size was USD 75.06 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with the hair care product witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the market will exhibit a decline of -4.63% in 2020. The market is projected to grow from USD 77.15 billion in 2021 to USD 112.97 billion in 2028 at a CAGR of 5.6% during the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Hair maintenance products help men and women uphold their hair health and cleanliness and protect them from damage. The products include shampoo, conditioner, oil, serum, and others used in hair nourishment and are available in different forms such as liquid, gel, cream, and lotion. A variety of products are present in the marketplace for different applications depending on the type of hair. This includes shampoos for dry hair and oily hair, conditioner for damaged scalp and hair repair, and different shampoo for colored hair and curly hair.
Product innovations are the key market driving factors in the market. For instance, the Print data in May 2021 mentions that the Atulya brand introduces Veg Keratin products, including shampoo hair, hair conditioner, and hair oil. These are cruelty-free and chemical-free made from plant-based material, which safeguards the hair from damage and replenishes the protein for delivering anti-breakage.
Closure of Stores and Shipment Complications due to Covid-19 to Restrain Product Demand
The industry has experienced a negative impact during the COVID-19 pandemic. This is attributed to the shutdown of shops due to lockdown, maintenance of limited store occupancy, and consumers being cautious of getting infected by touching packaging. For instance, the data issued by Kantar in March 2020 reports that hair care has experienced a slowdown in its growth in 2020. Moreover, the postponement and reduction of goods shipment due to the government taking cautionary actions also decrease its sales. For instance, the data published by the Economic Times data in February 2021 states that in 2020 the COVID-19 results in an overall 4.1% decline in world maritime trade.
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Hair Coloring and Adoption of Long Hair Among Men Act as a Market Trend
The rising trend of owning colored hair among the youth population is expected to fuel the demand for dyes and colors, especially among the female population. For instance, the data released by Breast Cancer.Org in December 2019 declares that in the United States, 33 percent of women aged 18 and above are assessed to color their hair, out of which about 75 percent are from black ethnicity. Besides, the rising trend of possessing long hair and the adoption of multiple hairstyling among men has resulted in spiking the consumption of hair styling products. This is expected to contribute to the global hair care market growth during the forecast period.
Increasing Hair Related Issues to Aid Market Growth
The male population is progressively experiencing hair issues such as hair greying, dandruff, and hair loss that are likely to surge the hair care product utilization. For instance, data published by the Journal of Clinical and Diagnostic Research in October 2018 mentions that 60.3% of men aged between 18-50 have hair fall problems, whereas 17.1% have dandruff issues. In addition to this, the aging population being more vulnerable to hair problems than the youth generation is likely to surge the demand for the products. For instance, the data issued by the United Nations Department of Economic and Social Affairs, in 2019, the global population of age 65 years and above stood at 703 million.
Increasing Focus on Development of Organic and Natural Products to Surge Demand
Consumer preference is shifting towards organic and herbal due to increasing awareness regarding the adverse effects of chemicals used on health and the environment, thus heightening the consumption rate. For instance, the hair care products offered by Aveda Corp. are certified organic which is made out of natural plant-based ingredients such as rosemary leaf extract and ginseng oil. It also avoided the use of toxic chemicals such as parabens, sodium lauryl sulfate, and phthalates. In addition to this, key players operating in the market progressively focusing on developing and launching new products to meet consumer demand diversified based on geography, culture, and ethnicity have played a crucial role in the growth of the global industry.
Allergic Reaction on Sensitive Hair Hampers the Market Growth
The escalating number of people with sensitive hair experiencing an allergic reaction from products such as shampoo, cleanser, serum, and others due to toxic chemical use is a hampering factor for the market.
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Hair Oil Segment to Hold Highest Market Share
Based on the product, the market is segmented into such as hair colorants, shampoo, conditioner, hair oil, and others.
The shampoo segment is expected to hold a major share due to possessing various hair enrichment content such as vitamins, botanical extracts, minerals, oils, and others, which help stimulate the hair from the scalp follicles. Besides, the intense usage of shampoo by many consumers is expected to boost the segment's demand.
The hair colorants, shampoo, conditioner, and hair oil segments possess a robust market presence due to the growing demand for hair care in a beauty salon, spa, and massage therapy.
The other sub-segments, such as hair styling gel and hair spray, have gained positive traction among consumers. This is owing to the massive adoption of multiple types of hairstyling by young consumers backed by the evolving fashion trend.
Supermarket/Hypermarket is Segment to Remain at the Forefront
Based on the distribution channel, the market is fragmented into supermarkets/hypermarkets, specialty stores, online stores, and others.
The supermarket/hypermarket segment is expected to hold the largest share because of the availability of a wide range of goods under a single roof, eliminating the need to browse in multiple stores. Similarly, the consumers' ability to physically see the item reduces the chance of purchasing counterfeit goods.
Europe Hair Care Market Size, 2020 (USD Billion)
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Europe stood at USD 27.09 billion in 2020 and is expected to hold the highest position in the global hair care market during the forecast period. This is due to the presence of a highly beauty-conscious population that will boost the adoption of hair care products. For instance, as per the data released by the Health & Beauty Associations, the sale of hair conditioners witnessed a rise from USD 334.0 million in March 2018 to about USD 341.59 million in March 2019 in the U.K. Besides, the thriving growth of the hairdressing and beauty salon business is estimated to play a vital role in the growing demand for the product. For instance, the data issued by Europea. Eu declares that Europe has 1.7 million people aged 15 and above to be employed as a hairdresser and beautician.
North America is anticipated to experience a significant presence in the market owing to the high expenditure made on personal care, including hair-based products. For instance, the data issued by the Consumer notice.Org in July 2020 mentions that Americans are evaluated to make an expenditure of tens of billions of dollars to enhance hair, skin, and hygiene. Furthermore, the increasing growth of female employment is anticipated to boost consumption as women are willing to spend more on hair care products. For instance, the data published by the World Bank.Org, the female labor force participation rate in the United States is 56.76 percent which is a rise from 56.39 percent from its prior year.
Asia Pacific is expected to hold a vital market share. The countries in this region experience intense air pollution leading to the regular cleansing of hair. For instance, the data issued by the Climate and Clean Air Coalition.Org on Air Pollution in Asia and the Pacific 2019 mentions that approximately 4 billion people are witnessing levels of air pollution that pose a significant risk to their health. Furthermore, the booming growth of spa businesses is likely to aid in adopting the hair care product in the region. For instance, the data published by the Economic Times in January 2018 states that the Sap businesses in India are valued at USD 1,719.89 million.
South America is evaluated to display a crucial presence in the market due to the booming growth of the urban population, helping to intensify the number of people giving importance to their hair care maintenance. For instance, the data released by the World Bank.Org, the urban population of Latin America and the Caribbean is 522.74 million in 2019, which is a rise from 516.34 million in 2018.
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The Middle East & Africa is expected to showcase considerable growth as several countries are witnessing an escalating economic development that has helped foster the consumption of hair care products. For instance, in the data published by Trading Economics, Nigeria's GDP per capita income is assessed to be USD 2,386.90 in 2019, which is equivalent to 19 percent of the global average.
Shifting towards Effective Strategies and Eco-Friendly Solution
The market is highly fragmented, owing to several local and domestic players in the global marketplace. The manufacturers focus on effective marketing and advertising strategies, introducing environmentally friendly packaging solutions, and developing organic products to attract consumers. For instance, the Jonna Breitenhuber brand comes up with sopa shampoo packaging, which is expected to positively impact the environment and improve its competitive landscape over its alternative products.
An Infographic Representation of Hair Care Market
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The market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, end-users, and leading product types. Besides this, the report offers insights into the current hair care market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to this industry's growth over recent years.
Value (USD Billion)
By Distribution Channel
North America (By Product, Distribution Channel and by Country)
Europe (By Product, Distribution Channel, and by Country)
Asia Pacific (By Product, Distribution Channel, and by Country)
South America (By Product, Distribution Channel, and by Country)
The Middle East and Africa (By Product, Distribution Channel, and by Country)
Fortune Business Insights says that the global market was USD 75.06 billion in 2020 and is projected to reach USD 112.97 billion by 2028.
Registering a CAGR of 5.6%, the market will exhibit steady growth during the forecast period (2021-2028).
The shampoo segment is expected to be the leading segment based on products in the market during the forecast period.
The increasing number of hair-related issues drive the growth of the market.
LOreal Professional, Coty Professional, Henkel AG & Co. KGaA, and Unilever are few of the key players in the market.
Europe is expected to hold the highest market share in the market.
The supermarket/hypermarket segment is expected to grow at the fastest pace during the forecast period.
Factors such as the rising awareness regarding hair care products and the increasing inclination towards organic and herbal products are the key market trends driving the growth of the market.
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