Global Hair Care Market is Expected to Grow at a CAGR of 4% in the Forecast Period of 2024-2032

The global hair care market is led by the United States, accounting for the largest share of the global market demand. The Asia Pacific region is also a leading region after the United States due to the thriving market in China. China is the second biggest hair care market after the United States. The country accounts for the largest market share in the Asia Pacific region, and its position is likely to be maintained in the forecast period as well. In the next five to ten years, it also has the capacity to become the most significant hair care product market. The use of premium hair treatments in tier one megacities is the most prevalent with the rising penetration in China's inland second and third-tier cities. This is anticipated to increase further with the rising middle-class population as well as growing consumer products consumption. Electronic sales in the Asia Pacific region are driven by the growing internet penetration and push of e-commerce enterprises to attract customers. However, physical sales are still leading the market.

The increasing demand for organic/natural products for personal care has become a significant concern for consumers. Because of its widespread use, conditioners and shampoos were the most popular organic haircare items in 2020. Moreover, organic hair oils are anticipated to report a steady growth over the forecast period.

In March 2020, The Procter & Gamble Company (NYSE: PG) announced the release of its first new retail hair care brand worldwide in four years named WATERL. The product range is crafted to meet the different hair care requirements of women without using any water. It includes ultra-light foam dry shampoo, dry shampoo spray, dry conditioners, as well as alcohol-free hair refreshing products.

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Market Analysis by Type, Product, and Region:

• Based on type, the market can be divided into hair care product and hair care service.
• Based on the product, the industry is segmented into shampoo, hair colour, conditioner, hair styling products, and hair oil, among others.
• The regional markets for hair care include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The growing demand for consumer products is driving the market growth.
• The rising population, especially the middle-class population, is propelling the market growth further.
• The increasing demand for organic personal care product is boosting the market growth.
• Rising cases of hair fall, hair damage, and other related problems due to pollution are aiding the market growth.
• Increased disposable income is pushing the market growth further.
• Urbanisation and development are other factors, which are pushing the market growth forward.
• The growing demand from men is also aiding the hair care market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global hair care market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, products, and regional markets of hair care.
• The EMR report also provides an insight into the key demand and price indicators of the global hair care market.
• It assesses the market based on the SWOT and Porter's Five Forces analysis.

The major key players in the global hair care market include companies like Henkel AG & Company, KGaA, Kao Corporation, L'Oréal S.A., Procter & Gamble, and Unilever. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions and capacity expansions.

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