Global Luxury Hair Care Products Market Report 2022
New York, Sept. 30, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Luxury Hair Care Products Global Market Report 2022” – https://www.reportlinker.com/p06323501/?utm_source=GNW
The global luxury hair care market is expected to grow from $19.27 billion in 2021 to $20.62 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The luxury hair care market is expected to reach $27.22 billion in 2026 at a compound annual growth rate (CAGR) of 7.2%.
The luxury hair care market consists of the sale of luxury hair care products by entities (organizations, independent traders, and partnerships) that are used by individuals for overall hair health. These products generally refer to high-end hair care products sold at a premium price to the consumer.
Luxury hair care products contain highly concentrated ingredients compared to regular or generic brands.
Major types covered in the luxury hair care market include shampoos, conditioners, hair coloring products, styling products, hair oil and other product types. Shampoo refers to the special cleansing soap used to wash the hair.
Luxury hair care products are sold through various distribution channels, including supermarkets and hypermarkets, department stores, specialty stores, e-commerce and other distribution channels.
Asia-Pacific was the largest region in the luxury hair care market in 2021. Regions covered in the luxury hair care market report are Asia-Pacific, Western Europe, Eastern Europe, East, North America, South America, Middle East and Africa.
The Luxury Hair Care Market research report is part of a series of new reports that provide statistics on the Luxury Hair Care market, including the global market size of the Luxury Hair Care industry. luxury, regional shares, competitors holding luxury hair care market share, detailed luxury hair care market segments, market trends and opportunities. , and any other data you may need to thrive in the luxury hair care industry. This Luxury Hair Care Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing penetration of e-commerce platforms is expected to propel the growth of the luxury hair care market in the future. The e-commerce retail market refers to the purchase of goods over the Internet and the transfer of money and data to complete those transactions.
The e-commerce retail marketplace helps the luxury hair care market with easy transactions, selling items and services directly to customers, and delivering products to doorsteps. For example, according to the study published in Digital360, an Italian digital branding provider, e-commerce across the world grew from $3.46 trillion in 2019 to $4.29 trillion in 2020, with a current penetration rate of 20.2%. Hence, the growing penetration of e-commerce platforms is expected to drive the demand for luxury hair care over the forecast period.
Product innovation is a key trend gaining popularity in the luxury hair care market. Many companies operating in the luxury hair care sector are looking for new product innovations to strengthen their position in the luxury hair care market.
For example, in May 2022, Medimix, an Indian manufacturer of cosmetic products comprising skin care and hair care, launched a total care organic shampoo in its hair care portfolio. Medimix Total Care Shampoo consists of wheat protein and nine other natural herbs such as tea tree oil, rosemary oil, neem, wild ginger and others in a unique formula , which will help minimize hair loss, will act as an anti-dandruff and conditioner. Hair.
In December 2021, Procter and Gamble, an American consumer goods company operating in the luxury hair care market, acquired Ouai Holding, LLC for an undisclosed amount. With this acquisition, Procter and Gamble plans to expand its product line.
Ouai’s roots in authenticity with a highly connected community fills a void in P&G’s portfolio by delivering a modern premium offering that Gen Z and Millennials love. The Ouai Haircare is a US-based lifestyle brand that operates in hair and body products, including the luxury hair care sector.
Countries covered in the Luxury Hair Care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea , the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06323501/?utm_source=GNW
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