Hair Preparations Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Hair Preparations Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6071977 •
  • Format: PDF
Major players in the hair preparations market are Unilever plc, Estée Lauder Companies Inc, Coty Inc, Procter & Gamble, BASF SE, SHISEIDO GROUP, JOHNSON & JOHNSON, ORIFLAME COSMETICS AG, L’Oréal SA and Revlon Inc.

The global hair preparations market is expected to grow from $92.8 billion in 2020 to $106.52 billion in 2021 at a compound annual growth rate (CAGR) of 14.8%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $136.61 billion in 2025 at a CAGR of 6%.

The hair preparations manufacturing market consists of the sales of hair preparations. Hair preparations include sprays, bleaches, dyes, conditioners, rinses, shampoos, nutrient lotions, etc. which are applied topically in the hair.

The rising level of air pollution is expected to drive the hair preparations market.In October 2019 a study from the Future Science Research Centre and EADV Congress revealed that exposure to common air pollutants known as particulate matter (PM) is one of the leading causes for hair loss in humans.

According to the report published by World Health Organization (WHO), it is estimated that 90% of the world’s population lives in polluted areas. This is expected to increase the demand for hair care products in the forecast period.

Counterfeits are made to look like known brands; consumers find it difficult to distinguish genuine products from the counterfeit products, thereby damaging the brand’s reputation and devaluing the investment made by the brand, resulting in loss of revenues.For instance, statistics published by the European Commission states that over 40 million counterfeit articles were confiscated.

Therefore, rising instances of counterfeiting limits the growth of the hair preparations market.

The hair preparations market covered in this report is segmented by type into hair spray, conditioner, shampoo, hair oil and other types. The hair preparations market in this report is segmented by distribution channel into hypermarket/supermarket, specialty store, online stores, convenience stores and other distribution channels.

There is a growing preference by consumers for natural ingredient products in the hair preparations market.According to the survey conducted by Kari Gran, 75% of millennial women prefer buying natural products.

Hair care product manufacturing companies are focusing on development of natural ingredient products due to rising concerns of allergic reactions, hair and scalp problems by using synthetic ingredients.