The global hair care market was worth $ 72438 million in 2016. It is estimated to grow at a CAGR of 1.58% during the forecast period of 2017-2025 and is anticipated to reach $83128 million by 2025. Hair care market contributes to 15% of the global personal care and beauty market because of major driving factors like rising number of fashion-conscious customers, demand for customized beauty products, availability of a wide range of hair colors, technological advancement in hair care products and growing disposable income amongst middle-class consumer population.
The hair care market segmentation is done on the basis of components and distribution channel. Hair care components include 2-in-1 products, colorants, conditioners, hair loss treatment, perms and relaxants, salons, hair care shampoos, styling agents etc. Perms and Relaxants components are expected to grow at a CAGR of 3.58% during the forecast period. However, the shampoo component is expected to be dominant in the market. The distribution channels include hypermarkets/ retail chains, e-commerce, specialty stores, pharmacies, and salons. The specialty stores distribution channel is currently leading the market. The e-commerce hair care market is also expected to grow fast at a CAGR of 3.21% during the forecast period.
The North American region holds a major share of 19.54% in the global Haircare market. A rise in trend for male grooming has become a major driving factor for the market in this region. The Latin America market too is fast growing with an expected CAGR of 2.86% during the forecast period. However, it is the Asia-Pacific market which is anticipated to hold the largest share by the end of the forecast year because of the growing middle-class population with surplus disposable income. The Europe hair care market is also showing promise as an increase in a fashion sensible crowd is observed in this region. The European market generated a revenue of $17001 million in the year 2016.The Middle East and Africa market contributed around 8.75% to the revenue of the global haircare market in 2016 and is anticipated to grow at a CAGR of 2.70% during the forecast period.
L’Oreal Group is a forerunner in the global hair care market with its presence in various beauty and personal care sectors like hair styling, hair color, hair nourishment, makeup, fragrances, cleansers, etc. The other major players in the market are, Unilever, Amway Corporation, Church & Dwight Co Inc, Combe Inc, Conair Corporation, Avon Products, Inc., Goody Products Inc, Kgaa, Johnson & Johnson, Henkel Ag & Co, Kao Corporation, Natura Cosmeticos S.A., Oriflame Holding Ag, Beiersdorf Ag Revlon Inc., The Estee Lauder Companies Inc., Neutrogena Corp, and The Procter & Gamble Company.