Home Population The global hair care market is expected to grow at a CAGR of

The global hair care market is expected to grow at a CAGR of

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New York, Oct. 21, 2022 (GLOBE NEWSWIRE) — Kenneth Research has released an in-depth market report on “Global hair care market‘ for the forecast period i.e. 2023 – 2033 which includes the following factors:

  • Market Growth Over the Forecast Period
  • Detailed regional synopsis
  • Market segmentation
  • Growth engines
  • Challenges
  • Major market players and their detailed profiling

Global Hair Care Market Size:
The global hair care market is expected to grow at a CAGR of around 6% during the forecast period. The growth of the market can be attributed to the growing hair care concerns among the population. The main concern people have about hair is dandruff, hair loss, etc. Dandruff is estimated to affect around 40% of the population. Dandruff is a very common condition. However, if the dandruff separates, it can also lead to hair loss. Hence the growing demand for hair care.
Hair loss can also be caused by various factors including hereditary, hormonal changes, normal parts of aging, etc. In total, about 70 million Americans suffer from hair loss. By the time they reach the age of 35, two-thirds of men would already lose some or all of their hair. However, it also affects around 50% of women in America. Hence, this factor is expected to drive the growth of the market. Additionally, scalp psoriasis is another significant factor driving the market growth.

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Global Hair Care Market: Key Takeaways

  • Asia-Pacific will hold the largest share
  • Anti-dandruff segment to propel the highest growth
  • Europe will experience a significant presence

Growing Geriatric Population to Drive Market Growth
There has been a growth in the geriatric population which is further expected to drive the demand for hair care. According to the World Health Organization, the number of people in the world aged 60 or over will double by 2050 (2.1 billion). Between 2020 and 2050, the number of people aged 80 or over is expected to triple, reaching 426 million. The increasing age is the main factor of growing concern for health care.
Almost everyone loses their hair as they age. In addition, hair development slows down. Less pigment and smaller hair strands develop over time. Thus, young adult hair starts out as thick, coarse hair and later develops into fine, fine, light-colored hair. Also, chronic diseases could be another significant problem that can affect the hair. For example, female pattern baldness (FPHL) affected around 30% of women aged 50 in 2020. Similarly, male pattern baldness (MPHL) can occur in around 40% of men over 50.

Global Hair Care Market: Regional Overview
The global hair care market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa region.

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Growing Air Pollution to Drive Market Growth in Asia-Pacific Region

The hair care market in the Asia-Pacific region is expected to generate the highest revenue by the end of 2033. The growth of the market in this region can be attributed to the increasing air pollution in this region. In the Asia-Pacific region, 92% of the population, or 4 billion people, live in areas with levels of air pollution that seriously threaten their health. The top 10 countries of 2019 with the highest population-weighted average exposure to particulate matter included four Asian countries. The risks increase with increased exposure to hair pollution. According to research, the symptoms of greenhouse gas particles, which are most commonly linked to hair loss and baldness, include dandruff, itching, discomfort in the hair follicles, irritation of the scalp and oily scalp.

Increased beauty-aware population to drive growth in the Europe region
The Europe region market is estimated to hold a significant position over the forecast period, driven by a growing beauty-conscious population. People in the Europe region are more aware of their looks. Hence, this factor leads to an increase in demand for more hair and beauty salons. According to one estimate, in 2018 there were around 300,000 hair salons in the Europe region. Additionally, in the European Union (EU), 1.7 million adults over the age of 15 were employed as hairdressers and beauticians in 2019, accounting for 0.9% of total employment.

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The study further incorporates annual growth, demand and supply, and forecasts future opportunities in:

  • North America (USA, Canada)
  • Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe)
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
  • The Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman]North Africa, South Africa, Rest of the Middle East and Africa).

Global Hair Care Market, Segmentation by Concern

  • Anti dandruff
  • Hair loss
  • Dry and itchy scalp
  • Dry and dull hair
  • White and white hair
  • Others

The dandruff segment is expected to hold the largest share by the end of 2033, supported by a growing concern for dandruff worldwide. A common condition called dandruff can cause the scalp to become swollen and itchy. White flakes may be spread over the hair as a result of this. Even if dandruff is not dangerous for your health, it can be unsightly. It is estimated that the scalp disorder affects about two out of five people.

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Global Hair Care Market, Segmentation by Product Type

  • Shampoo
  • Conditioner
  • Hair oils
  • Serum
  • Hair dyes
  • Others

The shampoo segment is expected to generate the highest revenue by the end of 2033. The growth of the segment is attributed to the large number of people who purchase shampoo. According to statistics, approximately 300 million Americans used shampoo in 2020. Shampoo contains a variety of hair-enhancing ingredients such as vitamins, botanical extracts, minerals, oils, and other ingredients that promote hair growth from scalp follicles. They therefore play an essential role in hair care.

Global hair care market, segmentation by distribution channel

  • Hypermarket & Supermarket
  • Pharmacies and pharmacies
  • Specialty stores
  • On line
  • Others

Few well-known leaders in the global hair care market profiled by Kenneth Research are L’Oréal SA, Beiersdorf AG, Procter & Gamble, Unilever, Johnson & Johnson Services, Inc., AMOREPACIFIC US, INC., The Estée Lauder Companies, Kanebo Cosmetics Inc., Himalaya Global Holdings Ltd., Shiseido Company, Limited and other key market players.

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Recent development of the global hair care market

  • On January 3, 2022, using the latest technology and exact formulas, L’Oréal SA launched Coloright and Colorsonic, two of its breakthroughs. Consumer concerns about at-home hair coloring can be allayed by Colorsonic, a portable, lightweight instrument that guarantees mess-free color mixing and evenly applied hair color. Rather, Coloright aims to help salon stylists produce custom, on-demand color using an AI-connected hair coloring system.
  • On May 30, 2022, Unilever revealed it had a deal in place with Nutrafol to buy the bulk of the company’s shares in the hair wellness products maker. Previously, Unilever Ventures held a 13.2% minority stake in Nutrafol, a product that addresses a number of fundamental reasons that affect hair health, such as lifestyle, hormones, stress, age, metabolism and nutrition.

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