Global Hair Care Market Size, Share, Growth Analysis, By Product(hair colorant, shampoo), By Distribution channel(supermarket/hypermarket, speciality stores) - Industry Forecast 2024-2031

Global hair care market size was valued at USD 93.40 billion in 2022 and is poised to grow from USD 96.39 billion in 2023 to USD 124.01 billion by 2031, at a CAGR of 3.2% during the forecast period (2024-2031).

The significant increase in CAGR in this market is attributed to heightened demand and growth, anticipated to revert to pre-pandemic levels once the pandemic subsides. Hair care products play a vital role in maintaining individuals' appearance and well-being while safeguarding them from damage. These products, including shampoo, conditioner, oil, serum, among others, cater to hair nourishment needs and come in various forms such as liquid, gel, cream, and lotion. A diverse array of products tailored for different hair types and purposes is available, including shampoos for dry or oily hair, conditioners for damaged scalp repair, and specialized products for colored or curly hair. Product innovations serve as primary catalysts driving market demand, exemplified by the introduction of veg keratin products by the Atulya brand in May 2021. These products, comprising shampoo, hair conditioner, and hair oil, are cruelty-free and derived from plant materials, offering protection against damage and replenishing protein to enhance breakage resistance. Various concerns such as dryness, itchiness, hair loss, and dullness, including dandruff, contribute to the demand for effective hair care solutions. For instance, reports from the American Academy of Dermatology reveal that approximately 30 million women in the United States experience hereditary hair loss. This trend is expected to persist as women increasingly invest in hair and scalp care products. Growing awareness about the adverse effects of pollution, excessive hair treatments, heightened exposure to ultraviolet light, and harsh shampoo chemicals fuels demand for nourishing and protective hair masks. Hair masks are gaining popularity as a treatment for damaged and frizzy hair, driving anticipated market expansion.

Top-down and bottom-up approaches were used to estimate and validate the size of the global hair care market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Hair Care Market Segmental Analysis

The hair care product market is segmented based on product, distribution channel, and region. By product, the market is segmented into hair colorant, shampoo, conditioner, hair oil, and others. By distribution channel, the market is segmented into the supermarket/hypermarket, speciality stores, online stores, and others. By region, the market is segmented into North America, Europe, Asia Pacific, South America, and MEA.

Drivers of the Global Hair Care Market

The male demographic faces ongoing challenges such as hair graying, dandruff, and hair loss, which are anticipated to drive the utilization of hair care products. As per a recent article published in the Journal of Clinical and Diagnostic Research, 60.3% of men aged between 18-50 encounter hair fall issues, while 17.1% struggle with dandruff. Interestingly, the older population exhibits a greater concern for hair-related problems compared to younger generations, thereby fueling the demand for hair products. For instance, data from the United Nations Department of Economic and Social Affairs in 2019 indicates that the global population aged 65 and over has reached 703 million.

Restraints in the Global Hair Care Market

The increasing prevalence of individuals with sensitive hair, who are prone to allergic reactions from products containing harmful chemicals, poses a significant obstacle to the growth of the hair industry.

Market Trends of the Global Hair Care Market

Several businesses are introducing products with ingredients inspired by nature, such as plant-based and premium botanical ingredients, reflecting the increasing demand for natural ingredients observed in market surveys. Conditioners and shampoos dominate the majority of the market share for organic hair care globally, as these products are widely used, along with serums and oils. The demand for organic hair oils is expected to witness significant growth in the upcoming years. In Western Europe, the organic hair care products market is projected to grow rapidly, while in Latin America, it is expected to benefit from the expansion of the personal care sector.