Hair care products are being widely used globally due to the growing attentiveness amongst buyers’ vis-à-vis cleanliness and hygiene. The market returns for the global hair care products market is forecasted to touch an expected US$82.2 billion in 2018 with a decent growth during 2013-2018. Europe ruled this industry with the maximum market share of about 35% in 2012. Asia Pacific is second in the list and has materialized as the fastest-growing region in the industry.
An assortment of products available in the market is firing the growth of the global market. Presently, the global market for hair care products is extremely competitive in nature with the presence of a huge number of indigenous as well as global players operational in the market. The launch of new products is expected to toughen the competitive landscape of the global hair care products market in the coming few years.
Hair care products have developed over the years and there are plentiful shampoos, hair conditioners, hair oils, hair colorants, and hair styling agents accessible to buyers. With so many merchandises obtainable in the market, makers are dared to conserve the quality of each product. Growing price of raw ingredients and packing materials are also substantial challenges for the makers. All hair care product producers are determined to meet the challenges and uphold lucrativeness.
The global economy is recuperating and the disposable income of many individuals in many regions is increasing, which consecutively has propelled the growth of purchaser expenditure. The young population are becoming more fashionable and many are experimenting with hair styling products and hair colors to express their personality. These shifts in consumer lifestyles are also motivating the market. Hair care product vendors are becoming more structured in their craft. Better consideration of consumer penchants and more prevalent product accessibility are aiding the market growth.
Significant players in the market are concentrating on advertising undertakings and publicity campaigns so as to augment their market presence globally. Furthermore, these players are making significant efforts to present ground-breaking products to lure new consumers and buoy up the growth of the global hair care products market. The climbing number of distribution channels and network worldwide, like supermarkets, retail stores, hypermarkets, and convenience stores is projected to drive the call for assorted hair care products, thus boosting the growth of the global market. Also, the foremost businesses are aiming on using organic and natural products to offer enriched results to buyers. This is anticipated to fast-track the growth of the overall market.