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Global Hair Growth Products Market to Grow at a CAGR of 4.30% During 2022-2027, Aided by the Rising Demand for Premium Quality Hair Care Products

According to a new report by EMR titled, ‘Global Hair Growth Products Market Report and Forecast 2022-2027’, the market attained a value of around USD 7.82 billion in 2021. The market is further expected to grow at a CAGR of 4.30% between 2022 and 2027.

The hair growth products industry is being driven by the increasing popularity of premium hair growth products such as hair growth serums, oils, shampoos, conditioners, and others among the consumers. This can be attributed to the heightened investments by the market players in the branding and promotion of their products. Also, the rising disposable incomes, rapid urbanisation, and the emerging e-commerce industry are also projected to bolster the market growth for hair growth products in the forecast period. In addition, the rising focus of the consumers on physical appearance and aesthetic appeal is further estimated to support the market growth in the coming years.

The growing availability of a wide variety of hair growth products across online shopping platforms is anticipated to support the market growth in the forecast period. For instance, consumers can find a range of hair growth products at different price points on Amazon (NASDAQ: AMZN), further allowing for easy comparison and a convenient delivery process.

In terms of region, North America is anticipated to witness a considerable growth in the forecast period. The market in the region is anticipated to be driven by the rising cases of hair loss due to the changing lifestyles, depression, and chronic diseases. Additionally, the thriving retail sector, and high purchasing power of the population is likely to augment the market growth. Moreover, the growing research and development activities by the manufacturers are anticipated to further augment the market growth.

Market Breakup by Product Type, Gender, Age Group, and Region:

  • The market is segmented, based on product type, into shampoos and conditioners, serums, oils, and supplements and vitamins, among others.
  • Based on gender, the market has been bifurcated into men and women.
  • On the basis of age group, the market is divided into under 35, 35 to 50, and above 50.
  • Region-wise, the global market for hair growth products can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for hair growth products is being driven by the thriving retail sector worldwide.
  • The growing demand for clean labelled and plant-based products is likely to aid the market growth.
  • The rising cases of hair loss due to the growing prevalence of chronic diseases are likely to provide a boost to the market.
  • The market is estimated to be further aided by the business expansion strategies adopted by the manufacturers, including rising investments in advertising and marketing.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for hair growth products for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types, genders, age groups, and regions of hair growth products.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hair growth products market are Johnson & Johnson Consumer Inc., Vita Balance Inc., Philip Kingsley Products Ltd, Glenmark Pharmaceuticals, Farouk Systems, Inc., Nutraceutical Wellness Inc., and Mosaic Wellness PVT LTD., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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