Hair Preparations Global Market Report 2024

The hair preparations market size has grown strongly in recent years. It will grow from $137.5 billion in 2023 to $149.73 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The expansion observed in the historical period can be credited to extensive marketing campaigns promoting hair care products, a rise in government initiatives, an upsurge in disposable income, and an increase in issues related to hair.

The hair preparations market size is expected to see strong growth in the next few years. It will grow to $210 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated expansion in the forecast period can be ascribed to a growing prevalence of spa and salon services, heightened beauty concerns, and an increasing aging population base. Notable trends expected in the forecast period involve the introduction of vegan hair preparations, emphasis on forming partnerships, the launch of silicone and sulfate-free products, and the introduction of items with sustainable packaging. These initiatives aim to enhance product offerings and maintain competitiveness in the market.

The increasing levels of air pollution are anticipated to drive the demand for hair preparations. For example, data from IQ Air, a Swiss air quality technology company, in 2022 identified the top 10 countries with the highest air pollution, including Chad, Iraq, Pakistan, Bahrain, Bangladesh, Burkina Faso, Kuwait, India, Egypt, and Tajikistan. Additionally, according to a blog article by Kent, an Indian healthcare products and home appliances company, if air pollution is not controlled, the air quality is projected to deteriorate by 2030, necessitating the use of oxygen kits for easier breathing. Consequently, the escalating levels of air pollution are expected to contribute to increased demand for hair care products in the forecast period.

The growing concerns related to hair issues are poised to drive the expansion of the hair preparations market. These concerns encompass various issues such as hair loss, thinning, dandruff, dryness, frizz, and breakage, impacting the overall health and appearance of individuals' hair. As individuals seek to address and improve the health and appearance of their hair, the hair care market experiences growth through the introduction of various products, including shampoos, conditioners, and styling products. This trend is exemplified by data from Dermatology & Cutaneous Surgery Institute (DCSI), a U.S.-based skin care clinic, which reported in January 2022 that approximately 65% of individuals aged 35 and older in the United States are grappling with issues related to hair loss and thinning. Consequently, the increasing concerns about hair-related issues are propelling the growth of the hair preparations market in the foreseeable future.

Growing consumer preference for hair preparation products that incorporate natural ingredients. According to a survey conducted by Kari Gran, 75% of millennial women express a preference for purchasing natural products. In response to concerns about allergic reactions and hair and scalp problems arising from synthetic ingredients, haircare product manufacturers are increasingly focusing on developing products with natural ingredients.

Major companies in the hair preparations market are actively innovating new products aimed at hair regrowth to establish a competitive advantage. Hair regrowth involves the growth of new hair strands to replace lost or damaged hair, often by reviving previously dormant or inactive hair follicles. For example, in May 2023, CurrentBody, a UK-based beauty devices company, launched the LED Hair Regrowth Helmet. This FDA-approved hair care device is designed to address hair loss and thinning, featuring an array of LED diodes that stimulate scalp blood flow to promote hair growth. The helmet includes Bluetooth headphones for entertainment during 10-minute sessions, and users can anticipate visible results after 16 weeks of daily use. This convenient at-home solution provides a promising option for individuals looking to effectively address concerns related to hair loss, contributing to an anticipated increase in demand for hair care products in the forecast period.

Major companies operating in the hair preparations market report are L’Oreal S.A, The Procter & Gamble Company, Unilever PLC, Natura & Co, Henkel AG & Co KGaA, Johnson & Johnson, The Estee Lauder Companies Inc., Revlon Inc., BASF SE, Kao Corporation, New Avon LLC, Dabur Ltd., Amway Corporation, Church & Dwight Co Inc., Avon Products, Inc., Combe Inc., Goody Products Inc., Shiseido Group, Mandom Corp, Amorepacific Corporation, LG Household & Health Care Ltd., AEKYUNG Industry Co., Ltd., Beirsdorf AG, Mintel International Group, CHI Haircare, FFOR Ltd., Willow Hair, Schwarzkopf Professional, OSMO, Fudge professional, Davines S.p.A, Oriflame Cosmetics AG, K&D, NMGK Group of Companies, ELFARMA Ltd., Phyto, Lierac, Wilson’s Chemical Innovations Inc., Vitacare Labs Inc., Oneka Elements, Coty Inc., Grupo Boticário, Huda Beauty, Cosmo Cosmetics, Spa Cosmetics, MCH Cosmetic, Amka Products Pty Ltd.

Asia-Pacific was the largest region in the hair preparations market in 2023. Western Europe was the second-largest region in the global hair preparations market. The regions covered in the hair preparations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hair preparations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain. The hair preparations market consists of the sales of hair serums, dry shampoos, hair wax, hair mousse, heat protectant spray, and sea salt spray. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary categories of hair preparations include hair spray, conditioner, shampoo, hair oil, hair color, and other variants. Hair spray, for instance, is a liquid applied post-styling to keep the hair in place. These products come in both organic and chemical formulations and cater to individuals of various genders, including males, females, and those seeking unisex options. Hair preparations are available through a variety of distribution channels such as hypermarkets, supermarkets, specialty stores, online platforms, convenience stores, and others.

The hair preparations market research report is one of a series of new reports that provides hair preparations market statistics, including global market size, regional shares, competitors with a hair preparations market share, detailed hair preparations market segments, market trends and opportunities, and any further data you may need to thrive in the hair preparations industry. This hair preparations market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.