Colombia hair care market is anticipated to witness a CAGR of 4.74% during the forecast period (2020- 2025).
- Natural ingredients and organic formulations are witnessing high demand in the market, compelling key manufacturers to launch hair-care products with natural/clean product labels.
- The factors like pollution, sun damage, scalp issues, hair thinning and loss have led to an increased the focus of consumers on the categories of hair care and have thus been driving the market.
- However, due to the dominance of the global players in the market, the domestic players have not been able to do exceptionally well and have thus witnessed a retarded growth.
Key Market Trends
Demand for Organic/Natural Products is Rising Rapidly
The high demand for natural ingredients has been quite evident in the Colombian market, which has led to the majority of companies launching products with nature-inspired ingredients, especially ones with plant-inspired and premium botanical ingredients. Among the organic hair care product, conditioners and shampoos hold a majority of the share in the Colombia haircare market, owing to its wide usage. Further, the demand for organic hair oils is expected to inflate over the forecast period in the country.
Increased Concerns Toward Hair Care is Driving the Market
The changing lifestyles and exposure to the environment have primarily driven the hair care products market growth in Colombia. As a significant portion of people have started facing hair loss issues, manufacturers have developed innovative solutions to tackle the fueling demand. The growing awareness about hair care products through social media, magazines, and TV advertisements has been encouraging consumers to try various hair care products. Owing to the vivid hair textures, there is a rise in demand for specialized products. A significant portion of hair care products is, therefore, being imported into the country.
The market leaders have been expanding their presence in the country by launching more specialized and safer products in the market. Global players indulge in expansion as a preferred growth strategy and import their global products in the country. Moreover, the changing hair care needs of the consumers in the country are paving a way for both the global and domestic companies to debut in the potential market. The major players have an upper hand in the market due to their brand value in the global market.
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