The professional hair care products market is set to flourish its space in the market with a CAGR of 4.4% between 2023 and 2033. The market holds a value of US$ 23.06 Billion in 2022, while it is anticipated to reach a valuation of US$ 35.47 Billion.
The rising air pollution has started creating multiple skin and scalp-related issues in people. One of them is hair damage, scalp infection, dandruff, frizzy hair, an itchy scalp etc.
Professional hair care provides a long range of products to enhance hair quality and prevent any damage to the scalp, such as specific shampoos, hair wax & hair conditioner. Other than this, the kit also has premium products like straightening & perming products, hair colorants, hair gel etc.
The professional hair care market is expected to witness growth due to factors such as increased consumer spending on personal care products, growing disposable income of consumers in emerging nations, and increasing penetration of hair salon services across the globe.
The rising sales of these professional hair care products are attributed to the rising awareness around scalp nourishment and aesthetics. The higher penetration of the internet with social media fashion influences affecting the customer’s intent and pushing them to adopt these products.
Key players also include social media promotions as the primal force for their marketing campaigns. The tutorial videos on platforms like Facebook and Instagram help consumers to navigate through the products.
| Attributes | Details |
|---|---|
| Professional Hair Care Products Market Size (2023E) | US$ 23.06 Billion |
| Professional Hair Care Products Market Projected Size (2033F) | US$ 35.47 Billion |
| Value CAGR (2023 to 2033) | 4.4% |
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Vendors in the market space have followed different strategies to capture the major portion of the market space. FMI explains these strategies in simple points that one vendor should be adopting for higher sales.
Special organic products that are resourced naturally and minimally processed are preferred over chemical-based hair care products. The global trend of organic consumables as well as cosmetics has led hair care companies to adopt the strategy of adding a whole different section for these organic hair care products such as aloe vera-based shampoos and conditioners, Indian lilac comb, and other naturally resourced raw products like Sapindus mukorossi.
The brands have started launching new problem-specific products such as Anti-dandruff shampoos, Anti-splitting, and scalp nourishment. The damage-specific products help people with specific issues while also targeting providing enough nutrients to the scalp for prevention.
Cosmetics and hair products demand intent-based advertising along with enhanced packaging solutions. The first impression through the packaging should be talking about the USP of the product while the advertising is targeted at the right set of people with the intent data. people with the intent data.
Beauty and personal care industry includes skin care, hair care, oral care, cosmetics, toiletries, and others. Of all the aforementioned segments, demand for hair care products has restored from 2013.
Consumers are becoming sophisticated in nature which has led to change in buying patterns for personal care products. Thishas led to introduction of customized products sustaining the assorted need of the consumers based on different cultures, hair types, and regions.
Also, rising concerns for hair protection, demand for professional hair care products is expected to increase in the next five to six years. Professional hair care products are predicted to record a growth of around 5% to 6% annually in the near future.
Factors such ashair stylist recommendations, efficacy of the products, and increasing penetration of hair care services are expected to bolster the professional hair care products market growth in near future.
The professional hair care market is expected to witness growth due to factors such as increased consumer spending on personal care products, growing disposable income of consumers in emerging nations, and increasing penetration of hair salon services across the globe.
In addition, changing hair grooming pattern especially among the male consumers is expected to fuel the market growth. However, high pricing coupled with less availability of professional hair care products across the designed distribution channels are restricting the market growth.
Although, the professional hair care products market has attained a maturity level in developed countries, introduction of highly specialized products in shampoo and hair colorant category is anticipated to enhance the market growth. Also, in developing countries introduction of products addressing issues of consumers related to grey hair, dandruff and hair loss are expected to fuel the market growth.
For instance, in India inclination of consumers towards enhanced hair appearance is a key trend leading to a shift in consumers from conventional products to professional hair care products. Furthermore, increasing product visibility across multi retail outlets aids the market growth during 2015-2020.
The professional hair care products market is segmented on the basis of product type, and distribution channels. The various professional hair care products are broadly classified as conditioners, shampoos, hair colorants, hair serums, hair masks, hair sprays, and others.
Among abovementioned products, the hair colorants category is expected to witness a growth of around 8% to 9% as compared to the other products. The various distribution channels through which the professional hair care products are marketed include spa and salons, web or online shopping stores, supermarkets and hypermarkets, speciality stores, and others.
North America is expected to dominate the market during the forecast period, accounting for more than 30% of the market share by 2020. However, Asia pacific is expected to record highest CAGR as compared to other regions. Changing consumer buying patterns supported by increasing disposable income and spending on personal care products in countries such as India and China is driving the growth of professional hair care products in this region. Furthermore, growth of organizedretail industry is expected to enhance the demand for professional hair care products in MEA.
Some of the major international players in this market include L’oreal Group, Kao Group, Henkel AG & Co., Aveda Corporation, Procter & Gamble Co., Unilever Group, and PBI Group Inc., among the others. As a strategic move to enhance the product visibility, these companies are focused on increasing product penetration through online retailing, and creating awareness for hair care products through advertisements.
In addition, high promotional activities such as increasing television commercials, value added packages in the hair care products range, and other offers has led to increased purchase of hair care products across the globe.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product type and distribution channels.
Principal Consultant
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Professional Hair Care Products Market
