Global Professional Hair Care Market Is Estimated To
Witness High Growth Owing To Growing Demand for Natural and Sustainable
Products
The global professional hair care market is
estimated to be valued at US$ 19.3 Bn in 2020 and is expected to exhibit a CAGR
of 5.3% over the forecast period (2021-2028), as highlighted in a new report
published by Coherent Market Insights.
Market Overview:
The professional hair care market includes a wide range of products and
services that are specifically designed for hair care professionals and salons.
These products offer several advantages such as advanced hair care
formulations, professional-grade ingredients, and long-lasting results. The
need for these products is driven by the increasing demand for personalized and
professional hair care solutions. Consumers are willing to invest in high-quality
hair care products that are tailored to their specific needs, ensuring healthy
and lustrous hair.
Market key trends:
One key trend in the professional hair care market is the growing demand for
natural and sustainable products. Consumers are becoming more conscious about
the ingredients used in their hair care products, leading to a shift towards
natural and organic formulations. This trend is driven by the increasing
awareness about the harmful effects of chemicals and synthetic ingredients on
hair health. For instance, companies like Fable & Mane, Aveda Corporation,
and Unilever Corporation have introduced natural and sustainable hair care
products that are free from harsh chemicals and are environment-friendly. The
use of botanical extracts, essential oils, and plant-based ingredients provides
nourishment and improves the overall health of the hair.
PEST Analysis:
Political: The professional hair care market is influenced by political factors
such as government regulations and trade policies. For instance, import/export
regulations can impact the availability of certain ingredients or finished
products in different regions.
Economic: The economic factors like disposable income, consumer spending
patterns, and GDP growth influence the purchasing power of consumers and their
willingness to invest in professional hair care products and services.
Social: The social factors like changing beauty trends, cultural preferences,
and social media influence play a significant role in shaping consumer behavior
and their choices in the professional hair care market.
Technological: The technological advancements in the hair care industry, such
as the development of advanced formulations, innovative ingredients, and
devices, drive the growth of the professional hair care market. For instance,
the introduction of hair straighteners, curling irons, and hair dryers with
advanced features and damage control technologies enhance the salon experience
and improve the overall outcomes.
Key Takeaways:
- The global Professional
Hair Care Market is expected to witness high growth, exhibiting a CAGR
of 5.3% over the forecast period, due to the increasing demand for personalized
and professional hair care solutions.
- North America is expected to dominate the professional hair care market,
driven by the presence of key players and a high awareness about hair care
products among consumers.
- The key players operating in the global professional hair care market include
Fable & Mane, Henkel AG, Procter & Gamble Co., Unilever Corporation,
Kao Corporation, Aveda Corporation, Avon Products Inc., L'Oreal S.A., Revlon,
Inc., Johnson & Johnson, Natura & Co., and Coty Inc. These players are
focusing on product innovation, partnerships, and acquisitions to gain a
competitive edge in the market.
In conclusion, the global professional hair care market is witnessing
significant growth due to the increasing demand for natural and sustainable
products. Consumers' growing preference for personalized hair care solutions
has created opportunities for key players to introduce advanced formulations
and innovative products. With the rise of social media and evolving beauty
trends, the professional hair care market is expected to continue its growth
trajectory in the coming years.
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