The global premium hair care market size is expected to be worth around US$ 35.17 billion by 2030, according to a new report by Vision Research Reports.
The global premium hair care market size was valued at US$ 19,758.5 million in 2020 and is anticipated to grow at a CAGR of 7.6% during forecast period 2021 to 2030.
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Premium Hair Care Market (By Product: Shampoo, Dry Shampoo, Hair Color, Conditioner, Hair Styling Products, Hair Oil; By Demography: Men, Women, Children; By Distribution Channel: Supermarkets & Hypermarkets, Departmental Stores, Specialty Stores, Pharmacy and Drug Stores, Online) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||US$ 35.17 billion by 2030|
|Growth Rate||CAGR of 7.6% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Demography, Product, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Procter & Gamble Company; L’Oréal S.A.; Aveda Corporation; Johnson & Johnson; Unilever; The Estee Lauder Companies; Alcora Corp.; Beiersdorf Group (Nivea); John Masters Organic; Kao Corp.; Ouai; Briogeo; Living Proof, Inc.|
The overall personal care industry has a significant dependence on the chemicals and pharmaceutical industry for raw materials used in the final products. Thus, any price variations in these sectors have repercussions across the market. Consumers prefer buying premium haircare, skincare, and other beauty products through online channels, as it is convenient for them to shop for a wide range of brands and products that are available at comparatively lower prices. With the growing internet penetration, along with several technological advancements, consumers are increasingly buying premium hair care products from online retailers. In addition, the technology to enhance the conversion rate of website visits plays a crucial role in the salability of new products.
The market in the Asia Pacific region is expected to register the fastest growth rate during the forecast period due to the rising awareness about personal hygiene and wellbeing along with the gradually increasing disposable income levels and standards of living. Furthermore, hair care has always been a top priority for both men and women. Over 30% of men and around 22% of women, globally, prioritize hair care over skin, face, and physique.
By Product Analysis
Theshampoo product segment dominated the market in 2020 with a revenue share of more than 29%. The segment is estimated to retain the dominant position throughout the forecast period. The changing consumer perception toward organic products, coupled with the growing utilization of environmentally sustainable products, has fueled the demand for naturally derived products.
products such as shampoo, conditioner, hair styling waxes, and gels, which compels them to go for cheaper options over high-cost quality products.However, changing lifestyles of consumers along with rising environmental concerns, such as rising pollution,will support the market growth
By Demography Analysis
Based on demography, the market has been segmented into men, women, and children. The women segment accounted for the largest revenue share of over 82% in 2020 and will remain dominant throughout the forecast period.
The new generations of consumers are seeking brands that provide cost-effective, safe, and eco-friendly solutions or products, which are devoid of harmful chemicals and possible side effects.
By Distribution Channel Analysis
The online segmentaccounted for the largest revenue share of over 26.05% of the global market in 2020. Consumers prefer to purchase products through online channels due to convenience and availability of a wide range of products of various brands.
The specialty stores channel is projected to register the second-fastest CAGR of 7.8% from 2021 to 2030.Specialty stores focus on specific product categories and offer a wide range of products for that specific category, thus, making it easier for customers to purchase desired products.
By Regional Analysis
Asia Pacific led the market in 2020 with a revenue share of more than 38% and will expand further at the fastest CAGR from 2021 to 2030. Organic premium hair care products emerged as the most significant trend in 2020.
Given that the COVID-19 pandemic continues to be both unpredictable and rapid, the demand for premium hair care products across the globe, especially in severely affected countries, will be largely shaped by the duration of the crisis.
- Procter & Gamble Company
- L’Oreal S.A.
- Aveda Corp.
- Johnson & Johnson
- The Estee Lauder Companies
- Alcora Corp.
- Beiersdorf Group (Nivea)
- John Masters Organic
- Kao Corp.
- Living Proof, Inc.
- By Product
- Dry Shampoo
- Hair Color
- Hair Styling Products
- Hair Oil
- By Demography
- By Distribution Channel
- Supermarkets & Hypermarkets
- Departmental Stores
- Specialty Stores
- Pharmacy and Drug Stores
- North America
- Asia pacific
- Central and South America
- Middle East and Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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