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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:
Key Findings of the Report:
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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.
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