In a world where first impressions count, looking your best is paramount. For many, hair loss impacts confidence and self-esteem. This is leading to a boom in the market for hair loss treatment products with increasing demand from men, women, and children affected by androgenetic alopecia - a condition leading to baldness. Manufacturers are responding by expanding their product ranges to address this growing need, introducing innovative and affordable solutions to secure a larger share of an increasing market.
Furthermore, our increasingly hectic lifestyles are resulting in rising stress levels, which have been identified as a major cause of hair loss. This has spurred demand for hair loss treatment products globally. The growing preference for brands that promote natural hair growth, coupled with a rising demand for approved, origin-specific ingredients, is expected to shape the market dynamics further. Despite the popularity of alternate hair loss treatments, the market for hair loss treatment products is projected to see consistent growth.
Hair loss is a crucial issue most people face nowadays due to several internal factors, such as hormonal imbalance, major diseases, aging, and many others. The increasing demand for treatment among people with androgenetic alopecia, a hair problem among women, men, and children that leads to baldness and requires medication, is accelerating the market for hair loss treatment products. Manufacturers are revitalizing their product portfolios and targeting conscious consumers by introducing new products at affordable prices to attain a larger market share.
According to research by the American Academy of Dermatology, more than 40% of women globally have started facing hair loss issues by age 40 due to hormonal imbalances and other reasons. The increasing stress level owing to the ever-changing lifestyle is one of the major factors responsible for hair loss, increasing the demand for hair loss treatment products across the globe. The growing popularity of brands that aim to assert natural hair growth and an increasing consumer inclination toward origin-specific ingredients with approval from the US Food and Drug Administration and dermatology-approved products are predicted to enhance the market dynamics over the forecast period. However, the market is anticipated to restrain growth owing to the growing popularity of alternate hair treatments such as hair loss transplants, laser therapy, and scalp reduction.
Hair Loss Treatment Products Market Trends
Increasing Hair-related Issues Boosting Market DemandThe market witnessed a rising number of millennials experiencing hair loss due to changing lifestyle patterns, hormonal disbalance, and increased stress levels among working-class women. According to the AMCP’s (Academy of Managed Care Pharmacy) report in 2022, the prevalence of alopecia areata is increasing among females (0.25% - 0.27%) than males (0.14% - 0.17%). Thus, the increasing incidence of alopecia is further encouraging the players to innovate new products. For instance, in March 2022, Triple Hair Group Inc., a company specializing in the development of innovative treatments for alopecia, launched Plenty Natural, patented and clinically proven natural hair growth products for women. The natural ingredients in Plenty Natural products will prevent thinning and hair loss and stimulate hair growth. Moreover, the availability and affordability of hair treatment products, such as shampoo, conditioner, oil, foam, etc., supported by the development of online distribution channels, are playing critical roles in increasing spending on hair care products worldwide.
Additionally, the primary factor boosting the market for hair loss treatment products is the growing number of organizations that spread awareness and solutions for hair regrowth, like the National Alopecia Areata Foundation and the American Hair Loss Association. Various studies have depicted that more than 50% of the Indian and Chinese populations look for hair fall control products, including shampoos, conditioners, serums, and other product types in the overall hair care product range. It indicates strong demand for hair loss treatment products in these countries compared to others.
Asia-Pacific Holds the Largest Market ShareAsia-Pacific holds the largest market share for hair loss medication and anticipates dominating the market over the forecast period. Hair loss is one of China's most common health problems. According to a survey conducted by the China Association of Health Promotion and Education in 2021, over 250 million Chinese experienced hair loss, wherein 1 out of 6 people suffer from thinning hair. Millennials are the prominent group suffering from hair thinning which recorded 39.3% in 2021.
Due to the high incidence of hair loss issues, the market for hair loss treatment products is witnessing increased demand in Asian regions. Moreover, the increasing disposable income induced Asian consumers to spend more on hair care products. Thus, the consumption upgrade resulted in the growth of hair loss treatment products in the market. Major manufacturers like Unilever PLC, L'Oréal SA, and Shiseido Company Limited have introduced innovative, affordable, readily available, and enhanced hair loss treatment products yearly in all supermarkets and hypermarkets in developed and developing countries.
Hair Loss Treatment Products Market Competitor AnalysisThe global market for hair loss treatment products is competitive, with various international and domestic players. The market vendors are developing new products as per customer convenience and emphasizing technologically advanced therapies to increase their market share and gain traction in the global market. Significant players like Procter & Gamble Company, Unilever PLC, L'Oréal SA, Taisho Pharmaceutical Co. Ltd, and Pierre Fabre dominate the primary market share of hair loss treatment products. Advanced distribution networks and manufacturing expertise give manufacturers an edge to expand their product range. The key players in the hair loss treatment products industry are focusing on R&D for the latest product innovation and engaging in mergers and acquisitions, which is expected to continue during the forecast period.
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Table of Contents
1.2 Scope of the Study
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.1 Shampoo & Conditioner
5.1.4 Other Product Type
5.2 Distribution Channel
5.2.2 Convenience Stores
5.2.3 Specialty Retailers
5.2.5 Online Retail
5.2.6 Other Distribution Channel
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle East & Africa
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 The Procter & Gamble Company
6.3.2 L'Oreal SA
6.3.3 Unilever PLC
6.3.4 Taisho Pharmaceutical Co. Ltd
6.3.5 Pierre Fabre Group
6.3.6 Himalaya Wellness Company
6.3.7 Shiseido Company Limited
6.3.8 Johnson & Johnson
6.3.9 Natura & Co.
6.3.10 The Estee Lauder Companies Inc.
A selection of companies mentioned in this report includes:
- The Procter & Gamble Company
- L'Oreal SA
- Unilever PLC
- Taisho Pharmaceutical Co. Ltd
- Pierre Fabre Group
- Himalaya Wellness Company
- Shiseido Company Limited
- Johnson & Johnson
- Natura & Co.
- The Estee Lauder Companies Inc.