The “Global Premium Hair Care Market Size, Share & Industry Trends Analysis Report By Demography (Women, Men and Children), By Product, By Distribution Channel, By Regional Outlook and Forecast, 2023 – 2029” report has been added to ResearchAndMarkets.com’s offering.
The global Premium Hair Care Market is poised for substantial growth, with an anticipated market size of $31.1 billion by 2029, exhibiting a robust Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.
The premium hair care market’s growth is attributed to various factors and trends, including the increasing demand for dry shampoo, the availability of herbal and organic products, and consumers’ fast-paced lifestyles.
Dry shampoo is expected to account for approximately 1/5th of the market share by 2029, with the rising popularity of natural components such as Kaolin clay and Fuller’s Earth, reducing the potential harm from chemical use.
Key Market Players
Leading market players are adopting acquisition strategies to meet evolving consumer demands. For instance, in April 2022, Wella Company acquired Briogeo, enhancing its sustainable portfolio. In January 2023, P&G Beauty signed an agreement to acquire Mielle Organics, aiming to better serve black communities.
Market Growth Factors
Increasing Demand for Organic Hair Care Products: The market is witnessing a surge in demand for organic hair care products, including conditioners, shampoos, serums, oils, and styling products. There is a significant expected increase in demand for organic hair oils that combat dandruff, particularly in Western Europe.
Increased Accessibility of Customized Hair Care: With intensifying competition in the hair care sector, manufacturers are focusing on delivering tailored solutions. Customized hair care products address specific consumer needs, helping companies establish a solid customer base.
Market Restraining Factors
Availability of Counterfeit Products: The presence of counterfeit hair care products has hindered market growth. Consumers often struggle to distinguish between genuine and counterfeit products, with knockoff items available online and in small beauty supply stores at significantly lower prices.
Scope of the Study
Demography: The market is segmented by women, men, and children.
Product: Segmentation includes shampoo, hair styling products, hair oil, hair color, conditioner, dry shampoo, and others.
Distribution Channel: The market encompasses online sales, specialty stores, departmental stores, supermarkets and hypermarkets, pharmacy and drug stores, and others.
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