Hair & Scalp Care Market

Introduction:

Hair and scalp care refers to the practices and products used to maintain the health, cleanliness, and appearance of the hair and scalp. It involves various routines, techniques, and products aimed at promoting healthy hair growth, preventing hair and scalp issues, and enhancing the overall condition and aesthetics of the hair. Hair and scalp care is crucial not only for maintaining healthy hair but also for addressing various disease conditions. Common conditions such as Dandruff, Alopecia, Scalp Dermatitis/Eczema, and so on. These lead to the introduction of new hair or scalp treating products to the market.

Need for Hair & Scalp Care:

The increasing consumer awareness and concern about hair and scalp health. People are becoming more conscious of the importance of maintaining healthy hair and scalp to prevent issues such as hair loss, dandruff, dryness, and other related problems. This awareness has led to a growing demand for hair and scalp care products and services. Further, Manufacturers are continuously introducing innovative products with advanced formulations and ingredients to cater to specific hair and scalp concerns. These products include shampoos, conditioners, serums, oils, masks, and treatments tailored for various hair types, such as dry, oily, damaged, or color-treated hair. The rising disposable income and increasing urbanization in developing countries continue to contribute to the growth of the hair and scalp care market.

Global Market Trend:

The Global Hair & Scalp Care Market has reached a value of $72.61 billion in 2022. This market is projected to grow from $77.11 billion in 2023 to $117.48 billion in 2030 with a CAGR of 6.2% in the forecast period 2023-2030. This market is estimated based on different key pointers that attribute to the growth which are product such as Hair Colorants, Hair Spray, Shampoos, Conditioner, Hair Loss Treatment Products, Hair Styling Products, Perms and Relaxants, distribution channel including Direct Selling, Hypermarkets /Supermarket, Retail Chains, Online Stores, Pharmacies/ Drug Stores, Convenience Stores, Other Distribution Channels, and treatment such as Hair Treatment, Scalp Treatment. Leading companies such as Shiseido Company, Limited, Johnson & Johnson Services, Inc., Unilever, Procter and Gamble, L'Oreal SA, Henkel AG & Co. KGaA, Kao Corporation, Marico, and Combe Incorporated.

The hair loss treatment product segment leading the growth of the hair and scalp market in the forecast period. Hair loss, or alopecia, is a common concern for many individuals, and the demand for effective hair loss treatments has contributed to the growth of this market segment. There is a greater awareness among consumers about the available options for treating hair loss. With advancements in scientific research and technology, more effective hair loss treatment products have been developed and made accessible to the market. Consumers are actively seeking solutions to address their hair loss concerns, hence it drives the demand for hair loss treatment products. Moreover, the increasing prevalence of hair loss, rising consumer awareness, product innovation, research investments, evolving beauty standards, and technological advancements continue to drive the market of hair and scalp care.

Regional Analysis:

The Asia Pacific region holds a significant market share in the hair and scalp care market. This is due to a vast population, including countries like China, India, Japan, South Korea, and Southeast Asian nations and the sheer size of the population creates a substantial consumer base for hair and scalp care products. Further, the region has been experiencing rapid economic growth and urbanization, resulting in an increase in disposable income and improved living standards. As a result, consumers in the Asia Pacific region have more purchasing power and are willing to invest in personal care products, including hair and scalp care. For instance, in September 2021, Drunk Elephant, a brand under Shiseido Company Limited, extended its distribution channels by launching its product lines on Ultra Beauty's online and offline platforms. Moreover, the leading companies are targeting the Asian base to expand their product global presence, which leads to driving the growth of the market of hair and scalp care.

Conclusion:

With the growth of digital platforms and social media, consumers around the world have access to a wealth of information about hair and scalp care. Constantly, consumers are more educated about different hair concerns, available products, and effective solutions. This increased awareness drives the demand for specialized hair and scalp care products. Hence, it is recommended that the companies should invest in identifying target consumer segments within the hair and scalp care market and tailor products and marketing strategies accordingly. Different demographics, such as age groups, gender, and cultural backgrounds, may have unique hair care needs and preferences. Developing specialized product lines and marketing campaigns can help capture the interest of specific consumer groups. Expanding the product line of hair & scalp care and strengthening the collaboration continue to improve the growth of the hair & scalp care market in the coming years as predicted in the forecast period.