Professional Hair Care Market Expected to See Healthy Growth at a CAGR of 4.6% | $26,242.7 million by 2026
By product type, the shampoo segment accounted for the highest market share in 2018, growing at a CAGR of 4.5% from 2019 to 2026
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, October 20, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “Professional hair care market By Form and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026”, the global professional hair care market size was valued at $18,596.9 million in 2018 and is projected to reach $26,242.7 million. by 2026, registering a CAGR of 4.6% from 2019 to 2026. Professional hair care products are grooming products that are used to apply to the hair to achieve the desired hairstyle and are also used to treat hair problems, including hair loss, frizzy hair, split ends, dandruff, and dry or itchy scalp.
The major players operating in the professional hair care industry are L’Oreal Group, Henkel AG & Co., Procter & Gamble Co., Unilever Corporation, Kao Corporation, Aveda Corporation (Estée Lauder), Avon Products Inc., Revlon Inc., Tony & Guy and Shiseido Company, Limited.
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Professional hair care products include shampoo, hair wax, hair dye, straightening and perm products, hair gel, conditioner and others. The application of these professional hair care products nourishes the hair and scalp and gives an aesthetic hairstyle and look. Moreover, these grooming products, including hair straightening and perming products, hair dyes and styling agents, are gaining popularity among young and old consumers. Over the past two decades, there has been an increase in concerns regarding hair protection, hair loss, hair density, as well as hair quality that needs to be maintained from time to time among customers. This triggers the demand for various professional hair care products such as shampoo, hair color and others. Rise in celebrity influence, persistent awareness of appearance and facial appearance are some of the key factors driving the demand for professional hair care products including hair color, wax capillary, straightening iron and others. Rising self-awareness to keep up with trendy fashion among young people is expected to generate profits in the professional hair care market. Additionally, the availability of these professional hair care products in the market through different distribution channels including online stores, salons and others is also driving the growth of the professional hair care market.
The hair coloring segment in the professional hair care market is expected to be the fastest growing segment during the forecast period. This is attributed to the rise of social media, including Instagram, as well as the rise of celebrity influence, which has helped increase awareness of fashion trends related to hair color, such as the gray and pastel color, especially among young consumers. Moreover, Ombore golden hair color, pink blonde hair color, gray and pastel hair color and nude hair color are some of the hottest hair color trends right now. Moreover, the increase in the number of hair salons and spas is also helping to fuel the growth of the hair coloring segment in terms of sales value.
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The e-commerce segment in the professional hair care market is expected to be the fastest growing segment during the forecast period. This is due to the ease of access, strong discounts and offers on cosmetic products, including professional hair care. This is driving the adoption of e-commerce in the professional hair care market and becoming a popular medium for purchasing professional hair care products. Plus, easy availability of different types of professional hair care products as well as information about ingredients used in hair care products such as hair wax, hair color and others, along with tips on how to use them. ‘use these products, time-saving feature, and ease of home delivery contribute to the growth of online sales.
According to Roshan Deshmukh, Research Manager, Consumer Goods at Allied Market Research, “Global demand for the professional hair care market is expected to increase due to rising hair protection concerns as well as increasing concerns regarding appearance and facial appearance among young and old consumers, resulting in an increasing demand for professional hair care products among consumers around the world.
The global professional hair care market is segmented on the basis of product type, distribution channel, and region. By product type, the market is categorized into hair coloring, shampoos, styling agents, and straightening and perm products. By distribution channel, the market is divided into hypermarkets/retail chains, e-commerce, specialty stores, pharmacies, salons, and others. By region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
By product type, the shampoo segment accounted for the highest market share in 2018, growing at a CAGR of 4.5% from 2019 to 2026.
By distribution channel, the salon segment occupied the maximum share in 2018 and is expected to dominate the market forecast.
By region, North America accounted for approximately 35.46% of the market in 2018 by share and is expected to grow at a CAGR of 4.3%.
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