Hair and Scalp Care Market
By Product (Shampoo, Conditioner, Hair Color and Other Styling Products, Hair Loss Treatment Products, Hair Oil and Relaxants),
By Application (Anti-dandruff and anti-fungal, Hair Care Products),
By Sales Channel (Retail and E-Commerce, Supermarket and Hypermarket, Speciality store, and Pharmacies, Beauty Salons, Others),
By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa):
Global Analysis and Forecast 2023-2033
The global hair and scalp care market is to be worth more than USD 152.26 billion by 2033
Increasing the use of medium-chain triglycerides in the diet as an alternative to saturated fats. Due to customer preferences for organic commodities, global demand for hair care has roughly doubled in the preceding half-decade. Strong demand increases have significantly raised these items' revenues, which has an impact on R&D investments. Due to its large younger population, rising migration to cities, and an increasing number of women in the labor force, Asia-Pacific is the world's fastest-growing region. Conventional hair care products have undergone a great market expansion due to a massive population shift to metropolitan areas.
Similarly, the global elderly population has increased rapidly during the last few years. According to 2019 Worldwide Population Prospects data, the number of people aged 60 and up is growing faster than all other age groups combined. This age group has generated demand for white and grey hair products worldwide. Most corporations are concentrating their efforts in emerging markets on new product launches and expanding manufacturing facilities. Strategies include innovation, collaboration with key players, and expanding regional and global distribution networks. For instance, Unilever has announced that the word "normal" will never appear on its beauty or personal care products and that models' form, size, or skin color will no longer be altered. The organization aspires to "create a new period of beauty that is egalitarian and inclusive, as well as environmentally sustainable," according to an official company statement.
According to the CXOs and primary research conducted, People's disposable income has risen. Thus, they spend more on hair care and style products like hair dryers. Furthermore, an increase in professional hair spas and salons worldwide is expected to boost hair dryer sales in the coming years. Additionally, rising demand for organic and natural products will give market participants new economic prospects from 2023 to 2033. Furthermore, manufacturers are launching innovative products, such as herbal shampoos. The growing trend of using customized shampoos to treat several hair-related concerns will move the shampoo market forward.
The hair and scalp care market is analyzed across North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market share, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is the world's fastest-growing area, owing to its huge youth population, rising migration to cities, and an increasing proportion of women in the labor force. As a result of a massive population movement to urban regions, traditional hair care products have seen a tremendous market expansion. The major companies operating within the market are Amway,Coty Inc.,Henkel AG & Co. KGaA, Johnson & Johnson Services, Inc.KAO Group, L'Oréal USA, Inc., Procter and Gamble, Revlon, Inc., Shiseido Company Limited, Unilever.