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The global hair care market size is expected to gain momentum by reaching USD 112.97 billion by 2028. Fortune Business Insights in its latest report, titled “Hair Care Market Size, Share & COVID-19 Impact Analysis, By Products (Hair Colorants, Shampoo, Conditioner, Hair Oil, and Others), Distribution Channel (Supermarket/ Hypermarkets, Specialty Stores, Online Stores, and Others), and Regional Forecast, 2021 – 2028”, states that the market stood at USD 75.06 billion in 2020 and is projected to exhibit a CAGR of 5.6% between 2021 and 2028. This is attributable to the increasing demand for organic personal care products worldwide.
Henkel to Consolidate its Position in Personalized Hair Color Category with 51% Stake in eSalon
In July 2019, Henkel AG & CO announced its joint venture with eSalon.com, a California-based hair care company. Henkel is likely to hold a 51% stake in eSalon to strengthen its digital capabilities and hair coloration portfolio. The transaction amount has not been disclosed, and the move is expected to create significant innovations in the personalized hair color segment. Jens-Martin Schwarzler, Executive Vice President of Henkel, said, “We aim to expand and grow in our core business and further ensure striking innovations in the digital business model.” eSalon has its headquarters Los Angeles and has an overall employee strength of 120.
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Increasing Demand for Organic Personal Care Products to Augment Growth
The growing consciousness towards protecting the environment has led to a significant shift in consumer preferences across the personal care industry. This has led to several companies focusing on developing and introducing certified organic products derived from natural ingredients. For instance, the American cosmetics company Aveda Corporation has introduced plant-based extracts and ingredients such as ginseng oil and rosemary mint shampoo. Moreover, the company manufactures hair styling jars and bottles by adopting 100% recycled PET. Therefore, the growing demand for organic personal care products is expected to contribute to the global hair care market growth during the forecast period.
Key Players Focus on Acquisition to Expand Their Product Portfolio and Boost Sales Revenue
The market comprises small, medium, and large companies striving to maintain their stronghold. The large companies are focusing on acquiring other small companies to expand their hair care product portfolio and cater to the growing demand from consumers globally. In addition to this, other key players are focusing on adopting proactive strategies such as introducing new products, partnerships, and collaborations that will favor the growth of the market in the forthcoming years.
List of the Companies Profiled in the Global Market:
Further Report Findings:
Table of Segmentation:
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)