by The professional hair care market comprises various hair care products including shampoos, conditioners, serums, oils, sprays, and gels that are used for styling, straightening, enhancing texture and shine of hair. These products are manufactured using premium ingredients and formulas that nourish hair and give protection from external aggressors like pollution, dust, and Sun exposure. Hair care products help in repairing damaged hair, promoting hair growth and preventing hair fall. Rising consumer inclination towards self-grooming and growing personal care industry has fueled the demand for professional hair care products.
The Global professional hair care market is estimated to be valued at US$ 25.96 Bn in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Professional Hair Care market are Meta Inc., HTC Corporation, Unity Technologies, Microsoft Corporation, Samsung Electronics Co., Ltd., Magic Leap, Sony Corporation, Vuzix Corporation, Apple Inc, Niantic Inc., Northern Digital Inc., Snap Inc., SoftServe, and Accenture.
The Professional Hair Care Market Growth offers significant growth opportunities with the rising working population and increasing spending on personal grooming and styling products. The market is witnessing frequent product innovation with launch of natural and herbal hair care products catering to the changing consumer preferences.
Technological advancements like smartphone-connected devices and digital applications are changing the consumer shopping experience in the professional hair care industry. Digital channels aid product consultation, virtual try-ons, and personalized recommendations driving greater customer engagement.
Market Drivers
Rising working population and increasing disposable income: Growing number of working professionals and dual-income households has increased the spending power on professional hair and beauty services. This drives the demand for premium hair care products.
Changing lifestyle and fashion trends: Evolving fashion styles and trends along with growing social media influence has made professional hair care essential for styling, grooming and protection. Products catering to latest hairstyles fuel market growth.
Rising environmental and health concerns: Increased awareness about harmful chemicals in synthetic products is driving the demand for natural, herbal and organic hair care solutions without silicone, paraben or sulfate. This acts as a key driver for the professional hair care market.
Current Challenges in the Professional Hair Care Market
The Professional Haircare Market Analysis is facing various challenges currently. Large chains and salons are posing tough competition to standalone salons. Changing consumer preferences and growing inclination towards DIY hair care products are also affecting the market growth. Increasing prices of raw materials used in hair care products is another major challenge. High employee costs and rental costs of commercial spaces for salons are further adding to their operational expenses. Strict government regulations regarding the use of chemicals in products and hygiene standards in salons also increase the compliance burden on businesses. However, growing awareness about professional hair treatments and rising disposable incomes are likely to support the market demand in the coming years.
SWOT Analysis
Strength: Wide variety of professional products and treatments available as per different hair and scalp needs. Established supply chain and distribution channels of major market players.
Weakness: High setup and operational costs of salons limitsSmall and medium players. Growing popularity of affordable DIY hair masks and serums.
Opportunity: Untapped regional markets especially in developing countries provide expansion opportunities. Increasing spending on luxury hair care driven by rising incomes.
Threats: Easy availability of counterfeit products undermine brands reputation. Intense competition from online hair product retailers.
Geographical Regions
North America currently dominates the professional hair care market, holding around 30% share in terms of value. Easy availability of professional products through stores and salons along with high consumer spending on hair and beauty products drives the region’s growth.
The Asia Pacific market is expected to witness fastest growth during the forecast period owing to growing awareness about hair treatments, rapid urbanization, and increasing disposable incomes in major countries like China and India. Rising number of salons and expanding modern retail infrastructure will further support the regional market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
