Pune, India -- (SBWIRE) -- 11/30/2018 -- Hair Care Market – Overview
The hair care market has increased significantly with rising emphasis on grooming globally. Market reports associated with the healthcare industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to grow at a stable CAGR of 3.40% in the forecast period.
The market for hair care products shows increased potential for growth due to the escalating demand perceived from the consumer end. Growing cosmetic expenses, increasing incidence of hair related diseases, strengthening hair and beauty industry, and presence of robust marketing strategies by the players is expected to buoy the development of the market in the forecast period.
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Segmental Analysis:
The hair care market is segmented on the basis of gender, product, distribution channel, application, and end-user. On the basis of product, the hair care market is segmented into shampoo, hair colorant, hair styling, conditioners, and hair oil. The application basis of segmentation of the market comprises of hair treatment and scalp treatment. The segmentation of the market on the basis of gender divides the market into female and male. By distribution channel, the hair care market is segmented into e-commerce, hypermarkets, and pharmacies. The end-user segment of the market is segmented into salons and home care.
Industry Updates:
Oct 2018 Jeunesse Global has moved into the $79 billion worldwide hair care market with the introduction of its RVL Advanced Hair Care System, an innovative product line intended to reveal your best hair. RVL utilizes the Jeunesse exclusive HPT-6 polypeptide ingredient that merges amino acids and glycoproteins from six select botanicals.
Detailed Regional Analysis:
The haircare market's regional analysis comprises of Europe, Asia Pacific, Americas, the Middle East, and Africa. The European region is responsible for the significant market portion of about 34.5% in the haircare market. The large share is chiefly attributed to the incidence of advanced economies such as Italy, the U.K., coupled with a growing cosmetic industry within the region. The Americas region is responsible for the next principal market share whereas the Asia Pacific region is projected to develop at the incremental CAGR of 3.81% during the forecast period. The existence of enormous opportunities and endlessly developing economies will boost the market within the region. The Middle East and African region with the prevalence of low-income countries is responsible for the least market share in 2016. Further, the Asia Pacific region have enormous opportunities for the growth of hair care market owing to the incidence of emerging economies such as Australia, China, India, and others.
Competitive Analysis:
The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market. The leadership trends in the market are reinforcing the level of growth that can be achieved in the present market scenario. The evolution patterns are reviewed in tandem to the customer likings to realize the highest growth, and in the long run, viability. The ability to utilize the economies of scale is further proving to be beneficial for overall market growth. The potential for profitability in a market has been determined to be optimistic which will be fruitful for future expansions.
The important companies in the hair care market are Unilever, Shandong Baisheng Biotechnology Co., Ltd, L'ORÉAL, OLVEA Group, Shiseido Company, Limited, Oriflame Cosmetics AG, Henkel Corporations (Schwarzkopf Professional), REVLON Inc, Johnson & Johnson Services, Inc., Kao Corporation, Amway, and Procter & Gamble Co.
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