Hair Styling Products Sales to Soar through 2027; Rise in the Number of Beauty Conscious Customers Driving the Market
Global Hair Styling Products Market: From an estimated market size of US$ 18,458.8 Mn in 2018, the value sales of the hair styling products market are expected to reach US$ 28,765.7 Mn by 2027, expanding at a CAGR of 5.1%
The global hair care market has been surging in terms of value sales. Over the years, men as well as women have become more conscious about their looks and appearance, due to which there has been an increase in the demand for various cosmetic products, i.e. skincare, hair care as well as body care products. In case of hair care, men as well as women have been found to be very conscious about the look and style of their hair.
This is one of the key factors that has boosted the demand for hair styling products in the global market. Various hair styling products have been gaining traction among target customers. These products include hair gels, hair sprays, styling creams & waxes, hair mousse and similar other hair styling products.
Manufacturers of hair styling products have been adopting natural as well as organic ingredients in their products
Nowadays, the preference of customers has been gradually shifting towards natural and organic products owing to rise in awareness about the various health benefits associated with the usage of these products. A similar trend has been observed in the hair styling products market with various manufacturers of hair styling products aiming at using natural and organic ingredients, & anti-pollution ingredients in their finished products.
For instance, in 2018, Mizani, a key manufacturer of hair styling products, launched a new line of natural hair styling products for textured curly hair. In 2016, Sephora, another key player in the hair styling products market, announced the launch of natural hair styling products for the North America and Asia Pacific markets.
Owing to an increase in the demand for natural hair styling products in the global market, several key retailers have been introducing new hair styling products that to contain natural ingredients. In 2015, Target launched a new line of natural hair styling products under its own private brand label.
The global hair styling products market has witnessed an increase in the number of new product launches over the past couple of years
Over the past decade, the global hair styling products market has witnessed significant evolution in hair styling products that are capable of catering to the varying needs and demands of target customers. The perception and buying behaviour of customers has been influenced by a confluence of various factors such as the rise in awareness about various hair styling products and rise in per capita income, online penetration, etc., due to which keeping track of the same has become one of the primary tasks of the manufacturers of hair styling products to be able to launch new products.
In 2017, Procter and Gamble, one of the key players in the global hair styling market, launched various types of hair styling products in different international markets. The company launched a line of hair styling products specifically for the African-American demographic segment.
Unilever launched an eco-friendly brand, Love Beauty and Planet, which consisted of new variants of hair styling products. Hair texturizer Products are triggering demand from its target customers. Hair Texturizing Products are mainly used in the view of maintaing a good and composed hair style of the consumers.
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Millennials are accounting for the higher customer share of the global hair styling products market
The activities of the millennial population and their perception towards various consumer goods have been considered to be among the most influential factors in driving the demand for hair styling products in the global market. These consumers are very active and more conscious about their looks and appearance.
Even when it comes to using hair styling products, millennials have specific preferences. Taking this factor into account, various hair styling products companies have been strategizing on coming up with new products targeting the millennial segment.
In 2017, Cloud 10 introduced five types of hair styling products for the millennial segment in the North America market. Unilever launched a new line of hair styling products, which include hair gels and creams, targeting the millennial segment. In the 2017, the Procter & Gamble Company launched a new line of hair styling products through its Old Spice brand, which specifically targets the millennial population of the North America market.
Global Hair Styling Products Market Competitive Landscape: Multinational players are relatively highly concentrated in the global hair styling products market as compared to local and regional manufacturers of hair styling products
The global hair styling products market is primarily characterised by the presence of a large number of regional and multinational companies. The detailed profiles of hair styling product companies are also included in the global hair styling products market report to evaluate their strategies, key product offerings and recent developments.
Some of the key players profiled in the global hair styling products market study include Procter & Gamble, L’Oreal, Unilever plc, Shiseido Company, Amorepacific corporation, Flora, Ltd., Kao Corporation, Henkel AG & Company, Godefroy Manufacturing Company, Swallowfield plc, Shu Uemura Art of Hair, Vogue International LLC, CURLS(R), LLC, Ouai haircare, Redken, Scental Pacific, Delta Laboratories Pty Ltd., Natrocare Laboratories, Mizani and Mielle Organics LLC.
Based on product type
- hair gel
- hair spray
- styling creams & waxes
- hair mousse
- other types
Based on end use
- salon & spa
- fashion industry
Basis of gender
Based on sales channel
- convenience store
- specialty store and online store