Rising at 5.3% CAGR, Professional Hair Care Market Size to Reach $57.5 billion by 2033
Professional Hair Care trends, size
By product type, the shampoo segment accounted for the highest market share, growing at a CAGR of 4.5% during the forecast period
WILMINGTON, DELAWARE, UNITED STATES, July 3, 2024 /EINPresswire.com/ -- The global professional hair care market size was valued at $34.8 billion in 2023, and is projected to reach $57.5 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.
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The professional hair care products are grooming products that are used to apply on hair to get a desired hairstyle and are also used to handle hair problems including hair fall, frizzy hair, split ends, dandruff, and dry or itchy scalp. The professional hair care products include shampoo, hair wax, hair colorants, straightening & perming products, hair gel, hair conditioner, and others. Application of these professional hair care products nourishes the hair & scalp, and gives an aesthetic hairstyle and look. Moreover, these grooming products including hair straightening & perming products, hair colorants, and styling agents are gaining popularity among young as well as aged consumers. Over the past couple of decades, there has been a rise in the concern over the hair protection, hair fall, hair density, as well as the quality of hair that needs to be ude products including hair color, hair wax, hair straightener, and others. Increase in self-awareness toward following trending fashion among youngsters is expected to drive profits in the professional hair care market. Furthermore, the availability these professional hair care products in the market through different distribution channels that include online stores, salons, and others also boosts the professional hair care market growth.
The hair coloring segment in the professional hair care market is anticipated to be the fastest growing segment during the forecast period. This is attributable to the rise in social media including Instagram as well as increase in celebrity influence has contributed toward rise in awareness about fashion trends related to hair color such as gray & pastel color specifically among the young consumers. In addition, golden Ombore hair color, rose blonde hair color, gray & pastel hair color, and nude hair color are some of the best hair color trends at present. Moreover, increase in number of hair salons and spas is also contributing in fueling the growth of the hair coloring segment in terms of value sales.
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The E-commerce segment in the professional hair care market is anticipated to be the fastest growing segment during the forecast period. This is due to the easy accessibility, heavy discounts, and offers on cosmetics products including professional hair care. This boosts the adoption of e-commerce in the professional hair care market, and becomes a popular medium for the purchase of professional hair care products. Moreover, easy availability of different types of professional hair care products along with the information about the ingredients used in hair care products such as hair wax, hair color, and others coupled with the tips on how to use these products, time-saving feature, and the facility of home delivery contribute to the growth of online sales.
Market Segmentation
The professional hair care market is segmented on the basis of product type, distribution channel, and region. By product type, the market is classified into hair coloring, shampoo, styling agent, and straightening & perming product. By distribution channel, the professional hair care market is classified into hypermarket, salon, specialty store, e-commerce, pharmacy, and others. By region, it is analyzed across North America (U.S., Canada, Mexico) , Europe (Germany, France, UK, Italy, Spain, and Rest of Europe) , Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific) , and LAMEA (Brazil, UAE, South Africa, Saudi Arabia, Turkey, and Rest of LAMEA) .
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Market Key Players:
The major players operating in the professional hair care market include L'Oréal 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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