Hair Care Market size is anticipated to cross USD 223 Billion by the end of 2036, growing at a CAGR of 10% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of hair care was over USD 99 Billion. The increase in demand is due to the increasing popularity of hair coloring and the growing trend for men to grow their hair longer. Consequently, diverse acceptance has become more common as a result of the evolution of fashion and changes in social norms hair color trends. The demand for specialized hair care products that protect the color treated hair, like color protecting shampoos, conditioners and treatments, is driven by these trends. The consumption of hair styling products in the world has also increased as a result of long hair and the adoption of multiple hairstyles among men. Also, growing men hair color brands are propelling the growth of the market. For instance, with sales of over 73.28 million dollars, Just For Men Mustache & Beard ranked as the top men's hair coloring brand in the US in 2020.
Moreover, the increased use of these products has led to a significant increase in hair care market growth as consumers become increasingly concerned and access to new, more effective and safer hair care products is being made available.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 10% |
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Base Year Market Size (2023) |
~ USD 99 Billion |
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Forecast Year Market Size (2036) |
~ USD 223 Billion |
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Regional Scope |
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Product (Hair Colorants, Shampoo, Conditioner, Hair Oil)
Shampoo segment for hair care market is expected to hold a share of 47% during the forecast period. Because it contains a variety of hair-enriching components that aid in stimulating hair growth from the scalp follicles, including vitamins, botanical extracts, minerals, oils, and others, the shampoo category is anticipated to keep a sizable share. Additionally, the high volume of shampoos that customers use is anticipated to support the segment's growth. Consumer needs for shampoo products with natural components have evolved as a result of growing consumer knowledge of the negative consequences of chemical formulations. For instance, the organic hair care products are expected to grow to USD 6.7 billion by 2025. Also, 80% of customers globally firmly believe that shampoos made of natural ingredients are better for hair health. Furthermore, there is a growing market for shampoos that are 80–100% organically derived, free of silicone, parabens, and sulfates. The growth rate of the shampoo segment will be further supported by factors such as increased awareness about hair care, rapid urbanization and rapidly increasing income levels due to changes in lifestyles.
Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Stores)
Supermarket/Hypermarket segment for hair care market is anticipated to hold a share of 43% during the projected period. This growth is due to the availability of a wide range of products under one roof, which eliminates the need for visiting several stores, the supermarket/hypermarket segment is expected to lead the market. The likelihood of buying counterfeit goods is also reduced by consumers' ability to see the item in its physical form. Hypermarkets & supermarkets have focused on offering a variety of categories, such as synthetic, natural and chemical free products marketed to customers who are interested in them, and providing them with the opportunity to select from a number of brands before making a purchase.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Distribution Channel |
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APAC Market Forecast
Hair care market in Asia Pacific is poised to hold a share of 36% during the foreseen period. The Asia Pacific region has emerged as the world's biggest market for hair care, due to its large population shift towards urban areas and increased awareness of hairdressing procedures. Market growth is also supported by the involvement of various brands and celebrities. In particular, major Asian Pacific megacities use high end hair care products. This trend is expected to lead to market sales in the region, complemented by an increasing middle-class population and higher expenditure capacity. Moreover, urban and young consumers are increasingly inclined to invest in premium products.
North American Market Statistics
North American market is projected to hold a share of 27% by the end of 2036. North America is probably to have a significant market share in view of the excessive cost of products such as hair and skin care. For example, in 2022, hair care products will cost American consumers approximately USD 86 billion. Shampoo was the most profitable hair care product that year, accounting for about USD 3.6 billion in sales, followed by hair conditioner and hair coloring. In light of these elements, the market in North American region is predicted to flourish during the forecast period.
Author Credits: Anil Kumar, Ipsheeta Dash
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