Hair Care Market Size, Share & Industry Analysis, By Product (Hair Colorants, Shampoo, Conditioner, Hair Oil, and Others), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Stores, and Others), By and Regional Forecasts, 2024-2032

The global hair care market size was valued at USD 99.52 billion in 2023. The market is anticipated to grow from USD 106.91 billion in 2024 to USD 213.47 billion by 2032, exhibiting a CAGR of 10.4% during the forecast period. Europe dominated the hair care market with a market share of 36.43% in 2023. Moreover, the hair care market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 24.76 billion by 2032, driven by Increasing hair related issues to augment market size growth.

Hair care products help men and women maintain their hair health and cleanliness, and protect them from damage. The products include shampoo, conditioner, oil, serum, and others, which are used in hair nourishment and available in different forms, such as liquid, gel, cream, and lotion. Various products are sold in the marketplace for different applications depending on the hair type. This includes shampoos for dry and oily hair, conditioners for damaged scalp & hair maintenance, and different shampoos for colored hair and curly hair.

Moreover, product innovations and portfolio expansion are the key factors driving the market of hair care. For instance, the Print data in May 2021 mentions that the Atulya brand introduced Veg Keratin products, including hair shampoo, conditioner, and oil. These products are cruelty-free and chemical-free, and made from plant-based materials, which safeguard the hair from damage and replenish the protein to prevent breakage.

The hair care industry was negatively affected by the COVID-19 pandemic. Various salons and hair care establishments had to either shut down or operate under restrictions during lockdowns and times of increased social distancing measures. Consequently, this situation led to a reduction in salon services and decline in revenue for many businesses. The pandemic disrupted global supply chains, affecting the availability of raw materials and products used in the hair care industry. This, in turn, led to shortages and increased prices for some hair care products. For instance, according to data published by the Economic Times in February 2021, the pandemic period saw a global 4.1% decrease in maritime trade due to the impact of COVID-19.

Hair Care Market Trends

Hair Coloring and Adoption of Long Hair Among Men Act as Market Trends

The increased popularity of hair coloring and the growing trend of men adopting longer hair have contributed to a rise in the demand for hair care products. Therefore, the evolving fashion landscape and changing societal norms have led to an increased acceptance of diverse hair color trends. This trend has driven the demand for specialized hair care products designed for color-treated hair, such as color-protecting shampoos, conditioners, and treatments. As per the surveyed data presented by Garnier, a L’Oreal S.A.-owned mass market cosmetic brand, in 2020, out of 2,000 Americans, 42% discovered newer ways of gray hair coloring. Besides, the rising trend of possessing long hair and adopting multiple hairstyles among men has also spiked the consumption of hair styling products across the globe.

Hair Care Market Growth Factors

Increasing Hair-related Issues to Aid Market Growth

Consumers are increasingly experiencing hair issues, such as greying, dandruff, and hair loss, which are likely to increase the utilization of hairdressing products. Besides, consumers are more conscious of factors, such as hair damage, dryness, and breakage, leading to a greater emphasis on preventive and corrective hair care measures. As per the surveyed data published by the Dermatology & Cutaneous Surgery Institute (DCSI) in January 2022, nearly two-third of Americans aged 35 years and above are suffering from hair loss & thinning problems. In addition, the aging population being more vulnerable to hair problems than the younger generation is likely to surge the demand for hairdressing products. According to the estimated data published by the World Health Organization (WHO), in 2020, 30% of the Japanese population was older than 60 years.

Increasing Focus on Development of Organic and Natural Products to Surge Product Demand

Consumer preference is shifting toward organic and herbal products due to increasing awareness regarding the adverse effects of chemicals on health and the environment, thus heightening the consumption rate. For instance, the haircare products offered by Aveda Corp. are certified organic and made from plant-based ingredients, such as rosemary leaf extract and ginseng oil. The company also avoided using toxic chemicals, such as parabens, sodium lauryl sulfate, and phthalates. In addition, in recent years, various scalp care brands have penetrated different domestic markets to stay competitive. For instance, in November 2023, Straand, an Australian scalp care brand, launched in the U.K. The company focuses on developing cruelty-free and microbiome-centric products to achieve product differentiation in the intensely competitive landscape.

RESTRAINING FACTORS

Allergic Reaction on Sensitive Hair to Hamper Market Growth

The rising number of people with sensitive hair experiencing an allergic reaction from hair cleansing products, such as shampoos, cleansers, serums, and others due to the presence of toxic chemicals is a factor hampering the market growth. Moreover, consumers have become more cautious and selective about the products they use, which can lead to a decline in the overall trust and confidence in the hair care industry.

Hair Care Market Segmentation Analysis

By Product Analysis

Shampoo Segment to Hold Highest Market Share Due to Presence of Various Hair Enrichment Ingredients

Based on product, the market is divided into hair colorants, shampoo, conditioner, and hair oil, and others.

The shampoo segment is expected to hold a significant share as it possesses various hair enrichment ingredients, such as vitamins, botanical extracts, minerals, oils, and others, which help stimulate hair growth from the scalp follicles. Besides, consumers' intense usage of various shampoos is expected to boost the segment's growth.

Hair colorants, shampoos, conditioners, and hair oils also possess a robust market presence due to the growing demand for hair care products in beauty salons, spas, and massage therapy.

Nevertheless, other sub-segments, such as hair styling gel and hair spray have gained positive traction among consumers due to the massive adoption of multiple types of hairstyles owing to the changing fashion trends.

By Distribution Channel Analysis

Shopping Convenience to Keep Supermarket/Hypermarket Segment Dominant for Hair Care Product Sales

Based on distribution channel, the market is fragmented into supermarket/hypermarket, specialty stores, online stores, and others.

The supermarket/hypermarket segment is expected to hold the largest hair care market share due to the availability of a wide range of goods under a single roof, eliminating the need to browse multiple stores. Similarly, the consumers' ability to physically see the item reduces the chance of purchasing counterfeit goods.

REGIONAL INSIGHTS

The Europe market was valued at USD 36.26 billion in 2023 and is expected to hold the highest position in the global market during the forecast period. This is due to the presence of a vast beauty-conscious population that will boost the adoption of hair grooming products. According to the data presented by the Cosmetic Toiletry & Perfumery Association (CTPA), retail sales of hair care products in Europe reached USD 16.88 billion in the year ending March 2021. Besides, the profitable growth of the hairdressing and beauty salon business is estimated to play a vital role in boosting the demand for hairdressing products. According to the data presented by the National Hair & Beauty Federation (NHBF), in 2021, more than 46,000 hair & beauty businesses are operating in the U.K.

North America is anticipated to create a significant presence in the market owing to the high expenditure on personal care, including hair-based products. For instance, data issued by the Consumer notice.Org in July 2020 mentions that Americans are estimated to make an expenditure of tens of billions of dollars to enhance hair, skin, and hygiene. Furthermore, increasing employment of females is anticipated to boost the product consumption as women are willing to spend more on scalp repair products. For instance, according to data published by the World Bank, the female labor force participation rate in the U.S. is 56.76%, which is a rise from 56.39% from the previous year.

Asia Pacific is expected to hold a vital position in the market. The countries in this region experience intense air pollution, leading to the need for regular cleansing of hair. Furthermore, the booming growth of spa businesses will likely aid the adoption of scalp repair products in the region. As per the data revealed by the Global Wellness Institute (GWI), in 2020, spa industry revenues in Asia Pacific reached USD 19.1 billion.

South America is estimated to create a crucial presence in the market due to the booming growth of the urban population, thereby increasing the number of people investing in hair care & maintenance products.

The Middle East & Africa is embracing market progress as many countries witnessing robust economic development have helped foster the consumption of hair cleaning products.

List of Key Companies in Hair Care Market

Key Players are Adopting Effective Strategies and Shifting Toward Eco-Friendly Solutions

The global market is highly fragmented owing to the presence of several local and domestic players. The manufacturers are focusing on effective marketing & advertising strategies, introducing environmentally friendly packaging solutions, and developing organic products to attract a larger consumer base. For instance, in May 2021, the Jonna Breitenhuber brand developed a shampoo packaging, which is expected to positively impact the environment and improve its popularity over alternative products.

LIST OF KEY COMPANIES PROFILED:

• L'Oréal S.A. (France)


• Coty Inc. (U.S.)


• Henkel AG & Co. KGaA (Germany)


• Unilever PLC (U.K.)


• The Procter & Gamble Company (U.S.)


• Revlon, Inc. (U.S.)


• Kao Corporation (Japan)


• Natura & Co. (Brazil)


• Johnson & Johnson Services, Inc. (U.S.)


• Aveda Corporation (U.S.)                      

KEY INDUSTRY DEVELOPMENTS:

• April 2022 - The Wella Company, a global beauty company, acquired Briogeo, the fastest-growing scalp oil brand, to expand its eco-friendly cosmetic products portfolio globally. Briogeo’s shampoos and conditioners are made of formulations of natural oils, vitamins, and antioxidants.


• April 2022 – L’Oreal S.A.’s professional products division partnered with Myntra, an Indian online shopping platform, to build its capabilities of supplying salon-inspired hairdressing products in India.


• February 2022 - Honasa Consumer Limited, a Mamaearth startup-owned e-commerce services provider, acquired Godrej Consumer Products Limited-owned hair coloring brand BBLUNT to strengthen its business in India.


• January 2022 - Vellvette Lifestyle Pvt Ltd. which owns D2C startup company SUGAR Cosmetics, acquired a majority stake in the natural hair care and skincare brand ENN Beauty to accelerate the brand’s online presence in the retail industry.


• January 2022 - Hims & Hers Health, Inc., a multispecialty healthcare platform offering personalized health and wellness services, partnered with Walmart, Inc. to increase its hair repair services business at select Walmart stores across the U.S. This partnership between the companies will likely expand its product reach in the U.S.

REPORT COVERAGE

The research report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, end-users, and leading product types. Besides this, it provides the current market trends and highlights key industry developments, such as mergers & acquisitions and new product launches. In addition to the abovementioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.

Report Scope & Market Segmentation