The global professional hair care market is on track to grow significantly, with an estimated value of $34.8 billion in 2023. It is projected to reach $57.5 billion by 2033, expanding at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2033.
Professional hair care products, which include shampoos, conditioners, hair colorants, styling agents, and treatments for hair issues like fall and frizz, are increasingly popular. These products not only enhance the aesthetic appeal of hair but also address common hair problems, such as split ends and dandruff. The rising concern about hair protection and health among consumers, particularly the youth, is fueling this market’s growth.
Hair Coloring Segment Expected to Lead Growth
Among the various segments, hair coloring is expected to be the fastest-growing area in the professional hair care market. The influence of social media platforms like Instagram and the impact of celebrity trends have raised awareness of hair color fashions, particularly among younger consumers. Popular trends currently include golden ombre, rose blonde, and pastel shades. Additionally, the increasing number of salons and spas is driving sales in the hair coloring segment.
E-Commerce Driving Market Expansion
The e-commerce segment is also anticipated to grow rapidly during this period. Online shopping offers consumers easy access to professional hair care products, often at discounted prices. The convenience of home delivery, along with detailed information about product ingredients and usage tips, enhances the appeal of purchasing hair care products online.
Roshan Deshmukh, Research Manager for Consumer Goods at Allied Market Research, states, “Global demand for professional hair care products is expected to rise due to growing concerns about hair protection and personal appearance, especially among younger and older consumers alike.”
Market Segmentation
The professional hair care market is categorized by product type, distribution channel, and region:
Product Type: This includes hair coloring, shampoos, styling agents, and straightening and perming products.
Distribution Channel: Categories include hypermarkets, retail chains, e-commerce platforms, specialty stores, pharmacies, and salons.
Region: The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players in the Market
Major companies in the professional hair care sector include L’Oréal Group, Henkel AG & Co., Procter & Gamble, Unilever, Kao Corporation, Aveda (Estée Lauder), Avon Products, Revlon, Tony & Guy, and Shiseido Company.
Benefits for Stakeholders
This report provides a thorough analysis of market segments, current trends, and growth dynamics, helping stakeholders identify opportunities in the professional hair care market.
Key benefits include:
A quantitative analysis of market segments.
Insights into drivers, restraints, and opportunities.
Porter’s Five Forces analysis to assess buyer and supplier power.
Detailed segmentation analysis for identifying market opportunities.
Geographic mapping of key countries contributing to market revenue.
Competitive positioning of major players for benchmarking purposes.
Conclusion
The professional hair care market is poised for substantial growth, driven by changing consumer preferences, increased online shopping, and innovative product offerings. Understanding these dynamics will be crucial for stakeholders looking to capitalize on emerging opportunities in this expanding market.
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