The haircare market is witnessing a higher demand as an increasing number of the population are preferring the use of haircare products owing to various hair and scalp issues. As more and more people are suffering from haircare problems there has been an increase in the production of different hair care products including shampoos, hair oils, serums, hairspray, conditioners, hair smoothening creams, and others. The reason behind the growth of the global haircare market is the growing cosmetic expenditures of the consumers, escalating hair and beauty industry, increasing the prevalence of the hair related diseases, along with stronger marketing strategies used by the industry players. However, growing vulnerability to chronic diseases such as asthma and cancer by the usage of various hair care products is projected to limit the growth of the market during the forecast period (2017-2023).
Some of the haircare products make use of the chemicals like sodium lauryl sulfate, peroxide, diethanolamine, and others which causes such external diseases. Because of the presence of such health risk factors, the haircare market is witnessing a growing demand for the Ayurvedic hair care products which are natural to the scalp and hair. The global hair care market is anticipated to grow at a CAGR of 3.40% during the prediction period.
The global hair care market is bifurcated on the basis of its product, gender, application, end-user industries, and distribution channel. By product, the global haircare market is segmented into shampoo, hair styling, conditioners, hair colorant, and hair oil. Based on its application, the market is classified into scalp treatment and hair treatment. On the basis of its gender, the market is fragmented into male and female. Based on its distribution channel, the global haircare market is divided into e-commerce, hypermarkets, and pharmacies. Lastly, based on its end-user industries, the market is segmented as salons and home care.
The key industry players for the global Hair Care market include famous brands like Unilever, Shandong Baisheng Biotechnology Co., Ltd, L’OR?AL, OLVEA Group, REVLON Inc, Oriflame Cosmetics AG, Johnson & Johnson Services, Inc., Shiseido Company, Limited, Kao Corporation, Henkel Corporations (Schwarzkopf Professional), Amway, and Procter & Gamble Co.