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Global Hair Growth Products Market Size, Share, Growth: By Product Type: Shampoos and Conditioners, Serums, Finasteride, Minoxidil, Oils, Supplements and Vitamins, Injectables, Devices; By Gender: Men, Women; By Age Group: Under 35, 35 to 50, Above 50; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Hair Growth Products Market Size
The global hair growth products market reached a value of approximately USD 10,743.20 million in 2023. The market is projected to grow at a CAGR of 8.0% between 2024 and 2032, reaching a value of around USD 21,415.00 million by 2032.
Hair Growth Products Market Outlook
- According to the National Alopecia Areata Foundation, nearly 160 million people worldwide have alopecia areata or have had.
- Growing number of product contains CBD as an ingredient.
- In 2021, cosmetics generated around $43 billion in revenue in the United States, as per U.S. Census data.
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Hair Growth Products Market Growth Rate
Hair growth products help to prevent the thinning of hair and improve overall hair growth. Some common hair growth products are serums, oils, and supplements, among others, that provide nourishment and foster hair growth.
The increasing incidence of hair loss due to changing lifestyles, unhealthy diets, pollution, and health issues. The need to develop treatments to combat alopecia areata has given rise to clinical trials and research to produce topical steroid creams, and topical immunotherapy, among others.
According to data from the World Bank, the total population has increased to 7.95 billion in 2022 from 7.89 billion in 2021 globally stimulating the increasing consumption of hair growth products.
Key Trends and Developments
Growing social media influence, focus on organic products, hair loss problems, and availability of products on e-commerce platforms are the major trends impacting global hair growth products market growth.
October 10, 2023
iRESTORE, a leader in technology-driven, noninvasive hair restoration, is thrilled to introduce its most advanced device yet: the next-generation Elite.
June 23, 2023
Pfizer Inc. (NYSE: PFE) announced that the U.S. FDA has approved LITFULO™ (ritlecitinib), a once-daily oral treatment for individuals aged 12 and older with severe alopecia areata.
May 7, 2023
CurrentBody, a U.K. company known for top grooming and wellness devices, has introduced its LED Hair Regrowth Helmet in the United States.
January 17, 2023
Nutrafol, a leader in hair health, is partnering with Sephora U.S. to offer its complete range of award-winning hair growth supplements and physician-formulated hair care products on Sephora.com.
Availability of products e-commerce platforms
Tech-savvy individuals increasingly value hair care, leading them to buy hair growth products through online channels due to the availability of a wide range of products.
Growing social media influence
The growing influence of social media platforms has led to the increasing sale of hair care products as individuals buy these products after seeing them on social media.
Growing focus on organic products
Increasing global awareness of safer, simpler, and cutting-edge natural hair care products, alongside growing health consciousness, is driving demand for organic hair care products.
Growing hair loss problems
According to the market analysis, men and women undergo hair loss problems up to 40%-80% which can further be escalated with increasing age often requiring professional hair restoration services.
Hair Growth Products Market Trends
Growing awareness of organic options fuels the demand for natural hair care solutions. E-commerce platforms offer a wide array of hair care products, appealing to tech-savvy consumers who increasingly prioritize hair health. Social media's influence drives sales as products showcase their gained traction.
Hair loss affects both genders, with rates varying from 40% to 80%, necessitating professional intervention. Research and clinical trials for alopecia treatments contribute to market expansion. The convergence of online accessibility, social media influence, organic preferences, and hair loss concerns are driving growth in the hair care market.
The growing application of herbal or ayurveda-based hair growth products formulated using natural ingredients, such as coconut, castor, and black sesame oil, that stimulate hair growth is rising among consumers as they transition away from chemical-based products.
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Hair Growth Products Industry Segmentation
“Hair Growth Products Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Shampoos and Conditioners
- Serums
- Finasteride
- Minoxidil
- Oils
- Supplements and Vitamins
- Injectables
- Devices
Market Breakup by Gender
- Men
- Women
Market Breakup by Age Group
- Under 35
- 35 to 50
- Above 50
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Hair Growth Products Market Share
Shampoos and conditioners have been commonly adopted treatments for hair loss thus impacting the hair growth products market
Shampoos and conditioners are extensively utilized for their ability to cleanse, nourish, and upkeep hair and scalp health. Shampoos rid hair of dirt and oils, while conditioners moisturize and improve hair texture. Their diverse formulations cater to various hair types and needs, making them widely accessible. These products are popular due to their convenience, effectiveness, and ability to address a range of hair care requirements in daily routines.
Devices are expected to experience rapid growth in the hair growth products market, driven by the prevalence of alopecia areata affecting approximately 2% of the global population. Laser hair treatments, favoured by both men and women, offer a painless, safe, and non-invasive solution for various hair loss issues like male pattern baldness and thinning hair. Leading brands such as Revian and Scienlodic provide light therapy devices designed for both genders, stimulating market expansion.
Men are anticipated to dominate the hair growth products market due to the high prevalence of hair loss among men
According to the American Hair Loss Association (AHLA), around 95% of hair loss in men is because of androgenetic alopecia, or male-pattern baldness. According to the American Academy of Dermatology (AAD), topical therapies, like Minoxidil, aid hair growth in these patients.
Meanwhile, 40% of women aged over 40 suffer from visible hair loss, as per the American Academy of Dermatology. To capitalise on this trend, key players are launching innovative hair growth solutions aimed at women. For instance, in September 2021, Dr Reddy's Laboratories launched Minoxidil topical solution USP 2% and 5% for treating female pattern hair loss (FPHL) in India.
Figure: Countries with Highest Bald Man (in %), 2023
Leading Manufacturers in the Hair Growth Products Market
The company offers hair restoration treatment devices, premium vegan hair products, hair growth products, and systems to treat androgenetic alopecia and promote hair growth.
Venus Concept: Founded in 2002, with its headquarters in Canada, Venus Concept offers hair restoration treatment devices named NeoGraft® and ARTAS® iX.
REVIAN, Inc.: Founded in 2016, with its headquarters in the United States, REVIAN Inc. REVIAN RED System is used to treat androgenetic alopecia and promote hair growth.
Vegamour Inc.: Founded in 2016, with its headquarters in the United States, Vegamour Inc. offers premium vegan hair products and Hair GRO Serum.
Johnson & Johnson Consumer Inc.: Founded in 1886, with its headquarters in the United States, Johnson & Johnson Consumer Inc. offers hair growth products under brands such as Neutrogena and Regaine.
Other global hair growth products market key players are Philip Kingsley Products Ltd., among others.
Hair Growth Products Market Analysis by Region
North America is poised to lead the market, boasting numerous retail giants like Walmart, Costco, and Metro Inc. The availability of hair growth supplements containing biotin and other essential vitamins in these stores is driving product adoption.
In Europe, hair loss issues among middle-aged men are fueling market growth, particularly in countries like France, Italy, Germany, and the UK, where male pattern hair loss is prevalent among individuals aged 18 to 40.
The Asia Pacific region also holds a significant market share, driven by the desire among Asian women to control hair fall and promote growth for enhanced beauty. Hair supplements, including those from Unilever’s Nutrafol and India's Soul Strips, are increasingly popular, with a focus on organic ingredients.
Key Highlights of the Report:
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| reakup by Gender |
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| Breakup by Age Group |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Hair Growth Products Market Report Snapshots
Hair Growth Products Market Size
Hair Growth Products Market Growth
Hair Growth Products Market Trends
Hair Growth Products Market Share
Hair Growth Products Market Regional Analysis
Hair Growth Products Manufacturers
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Hair Growth Products Market Analysis
8.1 Key Industry Highlights
8.2 Global Hair Growth Products Historical Market (2018-2023)
8.3 Global Hair Growth Products Market Forecast (2024-2032)
8.4 Global Hair Growth Products Market by Product Type
8.4.1 Shampoos and Conditioners
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Serums
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Finasteride
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Minoxidil
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Oils
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Supplements and Vitamins
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Injectables
8.4.7.1 Historical Trend (2018-2023)
8.4.7.2 Forecast Trend (2024-2032)
8.4.8 Devices
8.4.8.1 Historical Trend (2018-2023)
8.4.8.2 Forecast Trend (2024-2032)
8.5 Global Hair Growth Products Market by Gender
8.5.1 Men
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Women
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Hair Growth Products Market by Age Group
8.6.1 Under 35
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 35 to 50
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Above 50
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Hair Growth Products Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Hair Growth Products Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Hair Growth Products Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Hair Growth Products Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Hair Growth Products Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Hair Growth Products Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Venus Concept
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 REVIAN, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Vegamour Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Johnson & Johnson Consumer Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Philip Kingsley Products Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Hair Growth Products Market: Key Industry Highlights, 2018 and 2032
2. Global Hair Growth Products Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Hair Growth Products Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Hair Growth Products Historical Market: Breakup by Gender (USD Billion), 2018-2023
5. Global Hair Growth Products Market Forecast: Breakup by Gender (USD Billion), 2024-2032
6. Global Hair Growth Products Historical Market: Breakup by Age Group (USD Billion), 2018-2023
7. Global Hair Growth Products Market Forecast: Breakup by Age Group (USD Billion), 2024-2032
8. Global Hair Growth Products Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Hair Growth Products Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Hair Growth Products Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Hair Growth Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Hair Growth Products Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Hair Growth Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Hair Growth Products Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Hair Growth Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Hair Growth Products Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Hair Growth Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Hair Growth Products Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Hair Growth Products Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Hair Growth Products Market Structure
Key Questions Answered in the Report
The market was valued at USD 10,743.20 million in 2023.
The market is projected to grow at a CAGR of 8.0% between 2024 and 2032.
The revenue generated from the hair growth products market is expected to reach USD 21,415.00 million in 2032.
The market is categorised according to the product type, which includes shampoos and conditioners, serums, finasteride, minoxidil, oils, supplements and vitamins, injectables, and devices.
The market key players are Venus Concept, REVIAN, Inc., Vegamour Inc., Johnson & Johnson Consumer Inc., and Philip Kingsley Products Ltd., among others.
Based on the gender, the market is divided into men and women.
Based on the age group, the market is divided into under 35, 35 to 50, and above 50.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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