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The global hair growth products market size reached nearly USD 10,743.20 million in 2023. The market is projected to grow at a CAGR of 8.0% between 2024 and 2032 to reach around USD 21,415.00 million by 2032.
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Hair growth products are the different types of hair care products that boost hair growth by reducing hair loss. These products help 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 growing number of “hairfluencers”, referring to the social media participants who draw attention to topics regarding hair such as hair loss, products, and trends, are increasing the awareness of hair growth products. Videos describing hair-care routines and brands for hair growth are influencing the younger generation to try various products.
One of the major factors driving the hair growth products market growth is the increasing incidence of hair loss due to changing lifestyles, unhealthy diets, pollution, and health issues. The autoimmune disease, alopecia areata affects around 2% of people globally, leading to people losing their hair either in patches or entirely. 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.
The growing influence of social media channels; rising demand for organic hair growth products; new product launches; and increasing R&D activities are factors increasing the hair growth products market growth
Date | Company | Details |
October 2023 | iRESTORE Hair Growth System | Announced the launch of Elite, the company’s most advanced hair restoration device. |
June 2023 | Pfizer, Inc. | Announced that the U.S. Food and Drug Administration (FDA) approved its LITFULO™ (ritlecitinib), for treating individuals aged 12 years and above with severe alopecia areata. |
May 2023 | CurrentBody | Launched its FDA-approved LED Hair Regrowth Helmet in the USA. |
January 2023 | Nutrafol | Partnered with Sephora U.S. to launch its range of hair growth nutraceutical supplements and hair care products on Sephora.com. |
Trends | Impact |
Growing influence of social media channels | Around 57% of consumers purchase a beauty product after viewing it on social media channels. The growing influence of social media channels is a key driver aiding sales of hair care products |
Diverse availability of products on e-distribution channels | The growing importance of hair care among tech-savvy millennials and Gen-Zs is prompting them to purchase hair growth products from online channels. |
Growing hair loss problems | Starting at age 35, men start to lose their hair up to a rate of 40% which progressively increases to 70% by the time they reach 80. Women, typically experience a hair loss rate of about 80% by the age of 60, necessitating professional hair restoration services. |
Growth of organic hair growth products | The rising awareness regarding safer, simpler, and latest natural hair care products and the rising health consciousness among the global population are increasing the demand for organic hair care products. |
Continuous research and new product launches | The rise in research and clinical trials to develop treatments for alopecia areata aids the market growth. |
The growing popularity of social media platforms such as Instagram and TikTok, particularly by youngsters is revolutionising the hair care market. Social media is considered a go-to marketing tool among brands as it retains and engages customers at scale by leveraging influencers. Moreover, consumers are demanding products with more sophisticated claims, such as pollution-proof products, that also meet the needs of fast-paced urbanites who seek to maintain their hair with the least amount of effort.
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. Manufacturers of supplements, vitamins, and hair growth medicines, such as Nutrafol, and CodeageLLC, are capitalising on the hair loss concerns among younger customers globally, by launching low-priced products that are easy to purchase online.
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Global Hair Growth Products Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Product Type | Shampoos and Conditioners, Serums, Finasteride, Minoxidil, Oils, Supplements and Vitamins, Injectables, Devices |
Gender | Men, Women |
Age Group | Under 35, 35 to 50, Above 50 |
Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Shampoos and conditioners are expected to hold significant market shares in the coming years
One of the most commonly adopted treatments for hair loss is shampoo. Shiseido Professional, Vita Balance Inc., and Unilever, among others, offer shampoos that aid in preventing hair loss and add volume. There is a rising popularity of silicone-free, paraben-free, and sulphate-free shampoo brands such as BondiBoost (Australia), and Act+Acre (USA) due to their non-toxicity and lesser damage to ecosystems.
Devices are anticipated to be the fastest-growing products in the hair growth products markets in the forecast period. Alopecia areata affects around 2% of people globally, leading to people losing their hair either in patches or entirely. Laser hair treatments are adopted by both men and women as a form of painless, safe, and non-invasive method for treating loss of hair volume, male pattern baldness, thinning hair, hair loss and androgenetic alopecia. Key brands Revian (USA), and Scienlodic (USA) offer light therapy devices designed for both men and women to help combat hair loss, stimulating the market growth.
Men are anticipated to dominate the hair growth products market share in the forecast period due to the high prevalence of hair loss among men
By gender, men are expected to hold a significant market share in the forecast period. 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
Major players in the hair growth products market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
Company Name | Year Founded | Headquarters | Products/Services |
Venus Concept | 2002 | Canada | Offers hair restoration treatment devices named NeoGraft® and ARTAS® iX |
REVIAN, Inc. | 2016 | United States | Its REVIAN RED System is used to treat Androgenetic Alopecia and promote hair growth. |
Vegamour Inc. | 2016 | United States | Offers premium vegan hair products and Hair GRO Serum. |
Johnson & Johnson Consumer Inc. | 1886 | United States | Offers hair growth products under brands such as Neutrogena and Regaine |
Other key players in the hair growth products market include Philip Kingsley Products Ltd., among others.
North America is anticipated to hold a dominant position in the market. North America has the presence of several retail stores including Walmart, Costco, and Metro Inc, among others. The growing availability of hair growth supplements that contain biotin and other ingredients such as vitamins B6 and B12 at retail stores across the region is stimulating the adoption of hair growth products.
The Europe hair growth products market is being driven by the growing hair loss problem among middle-aged men in the region. Male pattern hair loss is highly prevalent among individuals of 18 to 40 years of age in France, Italy, Germany and the UK.
The Asia Pacific region also holds a significant share of the hair growth products market, driven by the focus on hair fall control and growth among Asian women to enhance their beauty. Hair supplements are a growing subcategory in the beauty-from-within space, with consumers purchasing supplements from several companies, including Unilever’s Nutrafol and India-based Soul Strips. Hair growth products made of organic ingredients are gaining popularity in this region.
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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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
In 2023, the market value was USD 10,743.20 million.
The market is projected to grow at a CAGR of 8.0% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 21,415.00 million by 2032.
The market drivers include the diverse availability of products on online distribution channels and growing hair loss problems among men and women.
The key trends include growing demand for organic hair growth product, continuous research and development activities, and new product launches.
The different types of hair growth products include shampoos and conditioners, serums, finasteride, minoxidil, oils, supplements and vitamins, injectables, and devices.
The major players in the market include Venus Concept, REVIAN, Inc., Vegamour Inc., Johnson & Johnson Consumer Inc. and Philip Kingsley Products Ltd., among others.
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