May 22, 2024
Professional Hair Care Market

Increased Consumer Awareness Is Anticipated To Open Up New Avenue For Professional Hair Care Market

The professional Hair Care Market is estimated to be valued at US$ 22.53 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Professional hair care products aim to provide superior style and quality to consumers’ hair. These products are sold through commercial distribution channels such as salons, specialty stores, and professional consultations. They comprise hair dyes, hair masks, hair care serums, hair sprays, and conditioners that help repair and strengthen hair while protecting it from environmental stressors. Professional hair care involves personalized and tailored solutions for specific hair types and concerns.

Market Dynamics:
The professional hair care market is witnessing growth due to increasing demand for products that provide natural ingredients, texture definition, and color protection. Consumers are shifting their preferences towards premium, results-driven hair care regimens that nourish the scalp and hair fibres from within. This is fueling the demand for protein-rich, highly moisturizing variants infused with natural extracts. Furthermore, rising consumer awareness about hair health and frequent new product launches catering to specific hair goals are also driving the market growth. However, high costs of professional hair care products and availability of cheaper alternatives remains a challenge for widespread adoption.
Segment Analysis
Content: The professional hair care market can be segmented into hair colorants, hair styling products, and hair care treatments. Among these, hair colorants dominates the market and accounts for over 35% share. Hair coloring has become extremely popular worldwide to change hair color or cover gray hair. The demand for hair colorants is high due to increasing aging population globally.

PEST Analysis
Content: Political: Countries are imposing stringent regulations on the ingredients used in hair care products to avoid any adverse effects on customers. Economic: Rising disposable income and improved living standards in developing nations have boosted the growth prospects of the professional hair care market. Social: People are getting more aware about hair problems and taking professional grooming seriously which is driving the demand for premium hair care products. Technological: Companies are innovating products related to hair nourishment, anti-hair fall, volume builder, etc through continuous R&D to cater to the evolving needs of consumers.

Key Takeaways
The global professional hair care market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing beauty consciousness among individuals.

The North America region dominates the professional hair care market holding around 40% share owing to the presence of major players and rapid adoption of premium hair care products in the region. Europe stands as the second largest market for professional hair care.

Key players operating in the professional hair care market are Fable & Mane, Henkel AG, Procter & Gamble Co., Unilever Corporation, Kao Corporation, Aveda Corporation, Avon Products Inc., L€TMOreal S.A., Revlon, Inc., Johnson & Johnson, Natura & Co., and Coty Inc. P&G, Henkel and L’Oreal enjoy leadership positions in the global market due to their diversified product portfolios and widespread distribution channels.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it