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(IT-NEWSWIRE.COM, March 30, 2020 ) Market Overview
The Global Haircare Products Market is expected to grow at a CAGR of 4.6% during the forecasting period (2019-2026).Due to growing self-concern of the people for maintaining and caring of hairs will grow the market for the Haircare Products in the forecast period.
Haircare Products are used for personal grooming so that the hairs can be maintained in the controlled and desired manner. Increasing hair problems due to the increasing pollution and the unhealthy lifestyle of the people will drive the market for haircare products during the forecast period whereas introduction of new products for various age groups and the entry of new organic haircare products have also increased the demand prominently.
The report covers all the major trends and drivers playing a key role in the growth of the Haircare Products market.Haircare Products market segmented by Product Type, Distribution channel, and Region.
Market Dynamics
The global Haircare Products is primarily driven by rising disposable income coupled with an increase in internet penetration in developing countries such as China, India,and Brazil. Internet penetration in developing countries has enabled huge market potentials for e-commerce businesses. These E-commerce businesses provide convenience and easiness for shopping to consumers who want to buy beauty and personal care products such as haircare products through online shopping portals.
The rising culture for salon and spa is the other driver for the Haircare Products market to grow. With the growing concern for the wellness, people are opting for these spas and salons for the haircare, which indeed is creating demand for the haircare products at saloons and spa. The rising culture is asking people to visit these spas and saloons frequently all around the world and hence is expected to boost the market for haircare for the forecast period.
However, Government Regulation on manufacturing and labeling of the haircare products as well as growing awareness among customers for usage of harmful chemical haircare products are hampering the growth of Haircare Products.
Market Segmentation
By product type, the global Haircare Products segmented into Shampoo, Hair Color, Conditioner, and others. The shampoo has the dominant position in the haircare products and is expected to retain its dominance in the forecasted period. However, due to increase in aging population and increasing pollution is driving the growth of hair color product globally. It is expected that hair color product will grow at a CAGR of ~XX% during the forecast period.
By distribution channel, the global haircare product Market segmented into online and offline distribution channels. Offline distribution channel has the dominant position in the Haircare Products market due to the rising supermarkets and hypermarket all across the globe giving excess to consumers for buying such products easily. Although with the e-commerce rise, the online distribution channels market share to grows with higher CAGR in the forecast period.
Geographical Analysis
By geography, the global Haircare Products is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
APAC holds the largest market share for Haircare Products due to the high demand of various Haircare Products by the people and also due to the rise in the internet penetration with the growing population in the countries like India and China are the main driver for the region in the forecast period. The growing popularity going organic by people in the region is enabling the market players to launch new organic-based product.For instance, LOrιal Professional is revolutionizing the natural haircare sector with the launch of a 100% vegan hair-dye product called Botanea in May 2018. Designed for salon use, the range consists of powdered henna, indigo and cassia derived from pure plant extracts sustainably sourced in India. Stylists mix the powders with water to create the dye, which can produce a range of warm and cool tones a first for natural hair dyes. It can also be used for highlighting.
Europe is after APAC in terms of the market share of Haircare Products due to the rise in the supermarket and hypermarket culture backed by rise in disposable income of people will be the major drivers for haircare product market in the region.With
investment and development in Eastern Europe are constantly growing. Poland is entering its third decade of dynamic growth with new overseas retailers and luxury brands entering the market with thirty new global brands setup operations in the country last few years. There is retail boom in Russia as 63 new complexes in 40 Russian cities have been completed. There is positive attitude in Western Europe of investment in outdated shopping centers to allow retailers to expand locally.
Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Haircare Products is a competitive market with the presence of various global and regional players in the market. The major players include Procter and Gamble, L'Oreal S.A., The Estee Lauder Companies Inc., KAO Corporation, and Unilever. Other key players in the market include Henkel, Shiseido Group, Johnson & Johnson, Amway, Oriflame Cosmetics Ag, Revlon Inc., Combe Inc., Avon Products Inc., Beiersdorf AG.
In February 2018, Hindustan Unilever launched New anti-dandruff shampoo named Pure derm, as a solution to recurring dandruff with regular use.
In April 2019, Procter & Gamble (P&G) promised to invest $12m (£6.8m) to further expand its innovation center in Singapore, with plans to launch new brands.
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**The Global Haircare Products Market report would provide access to an approx., 90 market data table, 150 figures, and 150 pages.
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