Hair Styling Products Market

Hair Styling Products Market Outlook (2023 to 2033)

The hair styling products market is expected to reach a valuation from USD 23.5 billion in 2023 to USD 39.9 billion by 2033. The market is expected to record an average CAGR of 5.4% CAGR.

Market Overview

• People's changing lifestyles and interest in hair styling products are likely to drive the industry.
• Products used for hair styling help maintain the hair's health and give it the desired style, thus increasing the demand for hair styling products.
• Shampoo, conditioner, 2-in-1 shampoo and conditioner, 3-in-1 shampoo conditioner and body wash, mask, leave-in conditioner, oil, serum, sprays, dry shampoos, and scalp treatments are just a few of the hair care products available in the market.
• Cream, clay, gel or glue, wax, pomade, paste, foam or mousse, hairspray, and powder are some hair styling products. In both personal and professional settings, these products are used by people of all ages worldwide. Men and women are using these items more frequently due to the growing grooming and style trend.
• Market participants are releasing new plant-based products as consumer demand rises.
• Demand for hair styling products created with natural and organic materials is rising as sustainability and eco-friendliness become increasingly crucial. This allows producers to develop and market more environmentally friendly, sustainable products that meet evolving consumer demands.

For instance, in April 2022, Bulldog SkinCare entered the hair care market by putting out a line of hair styling products called ‘Natural Hero Ingredients.’ The products include a pomade, a cream, and a spray. They are made with argan oil, shea butter, and sea salt.

Market Restraints:

Given proof that the chemicals used in hair styling products to style hair have negative consequences, which may limit the market growth. Moreover, portable hair styling tools are becoming increasingly popular among the young generation as they are easy to carry, reduce the need to visit a salon, and are travel-sized.

For instance, the company AER introduced a portable cordless smart hair dryer in January 2020. Also, it can be connected to a smartphone to provide customized solutions. However, including new features, such as 24K gold tools and models built using supersonic technology, is anticipated to drive market expansion.

Electric Hair Styling Tools that Use Less Energy are Becoming More Popular

Dryers and straighteners that use less energy are becoming more popular as people are now more aware of energy resources.

For example, the Philips DryCare Essential 1600W hair dryer has a special fan that saves up to 23% of energy compared to the Philips 2100W dryer. Government programs like the EU's Ecodesign Directive, which forbids the use of energy-intensive appliances, are anticipated to promote the production of more environmentally friendly products. Manufacturers are trying to develop hair styling equipment that consumes less energy to draw customers.

Attributes	Details
Hair Styling Products Market CAGR (2023 to 2033)	5.4%
Hair Styling Products Market Size (2023)	USD 23.5 billion
Hair Styling Products Market Size (2033)	USD 39.9 billion

Hair Styling Products Historical Analysis (2018 to 2022) Vs Market Outlook (2023 to 2033)

The hair styling products market recorded a CAGR of 4.9% from 2018 to 2022 and reached a valuation of USD 22.4 billion in 2022. Various hair styling products such as hair creams, hair wax, hair gels, hair oils, and similar other hair styling products are gaining traction among target customers.

Short-term Outlook (2023 to 2026):	Physical appearance has become incredibly significant in the fashion industry and all of the marketplaces connected to these products. Sales of hair styling products are anticipated to rise as people's attention to appearance has grown.
Mid-term Outlook (2026 to 2029):	Numerous hair styling product brands are focusing on developing the best hair styling products for daily use to gain market share. Over the following years, product ranges in the hair styling industry are expected to grow.
Long-term Outlook (2029 to 2033):	Customers’ perceptions and buying behavior are likely to be influenced by a confluence of various factors in this time frame. These include increased awareness of various hair treatment products, increased per capita income, online penetration, and so on. Hair styling product manufacturers are likely to focus on these to launch new products in the market.

Which Factors are Primarily Driving the Hair Styling Products Market Growth?

Men's Hair Styling Products Make Up the Massive Sales

Many new trends are influencing the global demand for hair styling products. An increase in the sales of hair styling products for men is one of them.

Previously, demand was limited to hair styling products for women, but now, men are also showing strong interest in hair styling products. This is the result of changes in fashion ideologies across the world.

Sales of Hair Styling Products are Augmented by Increased Demand for Organic Hair Care Products

People are making a significant transition to all-natural hair care products, which are skin and hair-friendly. As a result, most market players are developing products with herbal or organic ingredients.

This came about as a result of experiencing the damage that styling products with chemical bases may cause. Owing to advancements in chemicals and technologies, it is expected that hair care products that treat hair loss are likely to have better formulas.

Which Regional Markets Are Set to Be Lucrative for Hair Styling Product Manufacturers?

Europe Hair Care Products Market Holds Nearly one-fourth of the Global Market Share

• The hair styling products and hair care markets in Europe are expected to account for a significant market share of around 23.4% in 2023. Europe is expected to dominate the hair styling products market and hair care market because of growing spending power, increasing look consciousness, availability of various hair treatment products, and more.
• The hair treatment products in North America are expected to account for a market share of around 21.4% due to factors such as high standard of living, availability of innovative products, etc.
• The market in Latin America is likely to account for an 11.2% share of the global market in 2023.
• The hair styling products market in East Asia & South Asia regions is anticipated to be driven by factors such as high demand for organic products and essential oils, companies focusing on products rich in active substances, and rising demand for hair styling products for men. Both regions together account for a market share of around 34.3%.
• The hair styling products market in the Middle East and Africa region is expected to progress slightly slower than other regions. In 2023, the market in this region is set to account for 9.7% of the global market.

Country-wise Analysis

What Factors are Expected to Support the Hair Styling Products Market Growth in India?

Rising Look Consciousness & Availability of New Hair Care Products

The demand for hair styling products in India is expected to record a significant CAGR during the forecast period. Changes in customer behavior and rising product awareness have been recognized as the main market drivers. The enormous millennial population, increasing urban migration, and growing women's employment contributes to the market expansion. It has been noted that the premium segment is becoming increasingly popular with urban and young people, who are willing to spend more on products that deliver results more quickly.

Traditional retail sales still dominate the industry. Still, eCommerce sales of hair care products are likely driven by increased Internet usage and eCommerce enterprises' efforts to draw in more customers.

What is the Market Outlook for Hair Styling Products in China?

Surging Use of Hair Styling Products for Women

The market for hair styling products is expanding in China as a result of consumer concerns about scalp health, including hair thinning, hair loss, dandruff, and sensitive scalp.

In particular, consumers in China are spending more money on hair care products, which is attracting attention and driving market growth. These products are being launched specifically for women with hair loss issues.

Category-wise Analysis

Which Hair Care Products are Likely to Witness Increasing Demand?

Sales of Hair Styling Products Led by Gels, Creams & Sprays

With the introduction of numerous hair styling, hair regeneration, and hair colorant products (hair gels, hair styling creams, hair sprays, and more) over the last decade, the market has seen several changes.

Hair care treatments for hair loss are likely to see improved formulations in the near future, owing to developments in chemicals and technologies. Moreover, as men have become more conscious about their hair, the demand for hair styling products for men has increased.

A young, fashion-conscious population constantly updated about hair care services, such as hairstyles and colorants that represent uniqueness, is influencing consumer habits in the hair care market.

Competitive Landscape

To offer products derived from organic and natural ingredients, key hair styling product brands are focusing on technology to manufacture as per the requirements of the customers. Hair treatment products have also benefited from the expansion of locally started companies.

Hair styling product suppliers focus on adjusting to specialized shop business models so they may offer a choice of brands, categories, and products.

P&G has pioneered product diversification; most recently, the company introduced a cutting-edge, individualized hairstyle product line that primarily targeted African American customers. L'Oréal S.A. focuses strategically on mergers and acquisitions, intending to expand its influence in domestic, regional, and international markets. Matrix Essential is one of the most recent acquisitions.

Recent Development in the Hair Styling Products Market

• In October 2022, Kao Corporation's brand Oribe Hair Products came out with a limited-edition dry texturizing spray. This limited-edition design spray gives hairstyle and shines right away, adds rough-luxe texture and volume, and soaks up oil and dirt to make it last longer between washes.
• Arata, a Slick Organics Private Limited brand, released its advanced curl care line in February 2022. This line includes gels and creams for styling hair. The curls look shiny because the products contain Murumuru butter, mango butter, hydrolyzed proteins, grape seed oil, natural fragrances made from herbs, and floral extracts.
• Godrej Consumer Products sold their BBlunt houses premium products to Honasa Consumer Pvt. Ltd. in February 2022. With this purchase, Honasa Consumer Pvt. Ltd. Is likely to own and run all of the Bblunt hair styling products.

Key players in the market include L'Oreal SA, Procter & Gamble Co., Unilever PLC, Henkel AG & Co. KGaA, Amway Corporation, Avon Products Inc., Revlon Inc., Kao Corporation, Shiseido Company Limited, and Estee Lauder Companies Inc.

Key Segments

Hair Styling Products Market by Product:

• Hair Gels
• Hair Sprays
• Styling Creams & Waxes
• Hair Mousse
• Others

Hair Styling Products Market by End Use:

• Household
• Salons & Spas
• Fashion Industry

Hair Styling Products Market by Gender:

• Male Hair Styling Products
• Female Hair Styling Products
• Unisex Hair Styling Products

Hair Styling Products Market by Sales Channel:

• Wholesalers/Distributors
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores and Online Stores

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• The Middle East and Africa

Frequently Asked Questions

How Big is the Hair Styling Products Market?

The market is valued at USD 23.5 billion in 2023.

What is the Current Hair Styling Products Market Valuation?

The market is estimated to secure a valuation of USD 39.9 billion in 2033.

What is the Market's Growth Outlook?

Through 2033, the market is projected to continue to expand at a CAGR of 5.4%.

What is the Market Growth Forecast for Europe?

The European market is scheduled to reach a market share of 23.4%.

What is the North America Market Development Prediction?

The North American market is projected to contribute 21.4%.

What Limits the Growth Potential of the Market?

High brand competition leads to a conflict for market share, and brand recognition may inhibit the market.