USD 21.20 million
Report ID:
SQMIG30L2214 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|Tables:
67
|Figures:
65
Professional Hair Care Market size was valued at USD 22.46 Million in 2023 and is poised to grow from USD 23.8 Million in 2024 to USD 37.83 Million by 2032, growing at a CAGR of 5.96% during the forecast period (2025-2032).
A constellation of pivotal factors propels the trajectory of the personal care electrical appliances market. The escalating presence of working women, particularly in developing economies, serves as a robust driving force. Concurrently, there is an increasing demand for grooming tools, especially among men, reflecting evolving beauty norms and heightened awareness. Furthermore, the market's propulsion is amplified by technological breakthroughs, notably within hair care tools, enhancing their efficacy and user experience.
As disposable incomes witness an ascent, individuals are expected to allocate a greater proportion of their personal expenditure to self-care. This shift is poised to further catalyze market growth, resulting in personal care vendors proactively embarking on strategic maneuvers. These encompass a spectrum of initiatives, including novel product development, strategic mergers and acquisitions, and geographical expansion. Collectively, these efforts coalesce to fortify market development and sustain growth in the dynamic landscape of personal care electrical appliances.
US Professional Hair Care Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 21.20 million
Largest Segment
Hair Coloring
Fastest Growth
Hair Coloring
Growth Rate
5.96% CAGR
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tHE global professional hair care market is segmented on the basis of product type, distribution channel, region. By product type, the market is segmented into hair coloring, shampoo, styling agent, straightening and perming product. By distribution channel, the market is segmented into hypermarket, salon, e-commerce, pharmacy, specialty store, others. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Professional Hair Care Market Analysis By Product
The shampoo category emerged as the frontrunner, claiming the largest market share in 2021. The efficacy of a shampoo is gauged by its ability to execute this cleansing process with utmost efficiency. Intriguingly, the successful performance of a shampoo transcends mere cleansing functionality.
In summary, the shampoo segment commands the market landscape, mirroring its integral role in maintaining hair hygiene and augmenting user satisfaction. Its multifaceted role encompasses thorough cleansing while catering to psychological needs, illustrating its significance within the broader spectrum of professional hair care products.
Professional Hair Care Market Analysis By Distribution Channel
The traditional channel dominated the market landscape in 2021. The ascendancy of the traditional distribution channel can be attributed to its effective utilization of intermediaries, resulting in widespread geographical coverage and product accessibility. Through this channel, products seamlessly reach consumers via a network of third-party entities, including hyper/supermarkets, malls, and hair spas, among others. This intricate web of intermediaries ensures that professional hair care offerings are within easy reach of consumers, contributing to the channel's substantial market share.
In a contemporary context, the strategic evolution of distribution strategies is evident. Professional hair care service providers are increasingly gravitating towards the utilization of direct sales channels, including professional distribution channels, as a means to bolster brand image and enhance consumer engagement. This strategic shift underscores a departure from traditional indirect sales channels. The potency of direct sales channels lies in their ability to foster a more intimate connection between providers and consumers, thereby optimizing brand loyalty and customer satisfaction.
In conclusion, the professional hair care market's Distribution Channel dynamics are marked by a dualistic paradigm, where the Traditional channel's extensive intermediary network prevails, complemented by a contemporary focus on direct sales channels to amplify brand image and consumer engagement.
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The Asia-Pacific region emerges as a beacon of heightened allure within the global landscape. With a pronounced presence, Asia-Pacific commands the largest market share and is poised to maintain this ascendancy even further, projecting to dominate the market by 2030. Asia-Pacific's professional hair care market expansion is underpinned by an intricate interplay of factors. Shifting hair fashion trends, a rapid upswing in disposable income, population growth, and environmental challenges, particularly air pollution, converge to propel its growth trajectory. This region creates an opportune environment for shampoo and hair coloring product manufacturers to foster substantial client bases. The proliferation of professional hair care product usage in developed nations and the mounting embrace of organic components enhance the prospects for cultivating a robust consumer following.
In summation, the Asia-Pacific realm shines as the epicenter of burgeoning potential within the global professional hair care market. The amalgamation of evolving trends, economic factors, demographic dynamics, and environmental concerns contributes to its remarkable journey towards dominance in the industry.
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Professional Hair Care Market Drivers
Rising Beauty and Grooming Consciousness
Fashion and Celebrity Influence
Professional Hair Care Market Restraints
Regulatory Challenges
Price Sensitivity
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The competitive landscape of the global professional hair care market is a dynamic terrain characterized by intense rivalry and strategic maneuvers among key players. Established industry giants, including L'Oréal Group, Procter & Gamble, Henkel AG & Co. KGaA, and Unilever, exert significant influence, leveraging their extensive product portfolios, robust distribution networks, and brand recognition to maintain dominance. These industry titans engage in multifaceted strategies to fortify their positions, encompassing product innovation, partnerships, acquisitions, and geographical expansions. A keen focus on research and development drives the introduction of advanced formulations and cutting-edge technologies, catering to evolving consumer preferences. The market is further enriched by a growing influx of niche and boutique brands that emphasize organic, sustainable, and personalized offerings, appealing to discerning consumers seeking tailored solutions. This dynamism has instigated a wave of innovation and creativity, revitalizing the market's landscape.
Professional Hair Care Market Top Player’s Company Profiles
Professional Hair Care Market Recent Developments
In March 2024, Tricoci University of Beauty Culture announced a groundbreaking partnership with Ashtae, a renowned leader in addressing a wide range of hair texture challenges. This collaboration aims to revolutionize professional hair care education, highlighting a mutual commitment to excellence in product offerings and educational resources for students and the broader community.
In March 2024, iluvia, a professional haircare brand under Renaura Wellness Pvt. Ltd., has secured a Series A funding from Fireside Ventures and Multiply Ventures. This investment represents a crucial milestone for the organisation as it will play a pivotal role in the company’s efforts to assemble a high-caliber team and to fuel its brand expansion initiatives.
In February 2024, Godrej Professional, a renowned brand under the umbrella of Godrej Consumer Products Limited (GCPL), has unveiled its latest innovation - Botosmooth Hair Botox. This groundbreaking treatment promises to transform hair, offering a smoother, frizz-free look that lasts for up to 30-60 washes.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global professional hair care market analysis, the global professional hair care market showcases a robust landscape characterized by dynamic trends and diverse offerings. The convergence of innovation, evolving beauty standards, and increasing consumer demand has sculpted a thriving industry. As of now, the market encompasses a wide range of products and services, including hair treatments, coloring, styling, and salon-grade shampoos and conditioners. The market's trajectory is underpinned by factors such as the surge in disposable incomes, fashion consciousness, and the proliferation of salons and spas. Emerging trends, such as sustainable and organic formulations, are also reshaping the industry. The dominance of key players, coupled with their strategic initiatives like product launches, partnerships, and expansions, underscores the competitiveness of the market.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 22.46 Million |
Market size value in 2032 | USD 37.83 Million |
Growth Rate | 5.96% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Professional Hair Care Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Professional Hair Care Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Professional Hair Care Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Professional Hair Care Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30L2214
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