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Hair Care Market to Hit $112.97 Billion by 2028; Increasing Demand for Organic Personal Care Products to Stimulate Growth

June 17, 2021 | Consumer Goods

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.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/hair-care-market-102555


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.


Industry Development:



  • January 2020 - Natura &Co. announced the acquisition of Avon Products, Inc. According to the company, the acquisition aims to strengthen Natura’s presence in the beauty products sector and further boost its sales revenue.


List of the Companies Profiled in the Global Market:



  • L'Oréal S.A. (Clichy, France)

  • Coty Inc.  (Amsterdam, North-Holland)

  • Henkel AG & Co. KGaA (Düsseldorf, Germany)

  • Unilever PLC (London, United Kingdom)

  • The Procter & Gamble Company (Ohio, United States)

  • Revlon, Inc. (New York, United States)

  • Kao Corporation (Tokyo, Japan)

  • Natura & Co. (State of São Paulo, Brazil)

  • Johnson & Johnson (New Jersey, United States)

  • Aveda Corporation (Minnesota, United States)


Further Report Findings:



  • Europe stood at USD 27.09 billion in 2020 and is expected to hold the largest global market share in the forthcoming years. This is attributable to the presence of a beauty-conscious population in countries such as the U.K., Germany, and Spain that will boost the product’s adoption during the forecast period.

  • The market in North America is expected to showcase considerable growth backed by the increasing spending capacity on personal care by people in countries such as the U.S. For instance, according to the July 2020 Consumer notice.Org report, Americans spend tens of billions of dollars on beauty enhancement products that include hair care.

  • Based on the product, the hair colorants segment held a market share of about 19.94% in 2020 and is expected to experience significant growth in the forthcoming years. This is ascribable to factors such as the growing demand for hair care solutions across beauty spas, salons, and others globally.


Table of Segmentation:










































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



 



By Product



  • Hair Colorants

  • Shampoo

  • Conditioner

  • Hair Oil

  • Others



 



By Distribution Channel



  • Supermarket/Hypermarket

  • Specialty Stores

  • Online Stores

  • Others



Segmentation



North America (By Product, Distribution Channel and by Country)



  • U.S. (By Product)

  • Canada (By Product)

  • Mexico (By Product)


Europe (By Product, Distribution Channel, and by Country)



  • Germany (By Product)

  • France (By Product)

  • Italy (By Product)

  • Spain (By Product)

  • The U.K. (By Product)

  • Rest of Europe (By Product)


Asia Pacific (By Product, Distribution Channel, and by Country)



  • China (By Product)

  • India (By Product)

  • Japan (By Product)

  • Australia (By Product)

  • Rest of Asia Pacific (By Product)


South America (By Product, Distribution Channel, and by Country)



  • Brazil (By Product)



  • Argentina (By Product)

  • Rest of South America (By Product)


The Middle East and Africa (By Product, Distribution Channel, and by Country)



  • South Africa (By Product, Distribution Channel)



  • UAE (By Product Type)

  • Rest of the Middle East and Africa (By Product)


Hair Care Market
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  • 2020
  • 2017-2019
  • 155

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