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Bangladesh Hair Oil Market Size (2024 - 2029)

The Bangladesh Hair Oil Market is anticipated to experience growth driven by factors such as an enhanced quality of life, the influence of beauty and personal care on self-esteem, and a shift towards sustainable hair oil brands. The market's expansion is supported by trends in hair care, where women increasingly use oils to promote hair growth and strength. While traditional kitchen oils like olive and coconut are popular, other oils such as almond are gaining traction for their additional benefits. The market is further bolstered by rising disposable incomes and decreased inflation, although vendors face challenges from intense competition and changing consumer preferences.

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Market Size of Bangladesh Hair Oil Industry

Bangladesh Hair Oil Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.69 %
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

Bangladesh Hair Oil Market Analysis

The Bangladesh Hair Oil Market size is expected to grow from USD 176.53 million in 2023 to USD 232.80 million by 2028, at a CAGR of 5.69% during the forecast period (2023-2028).

  • Factors that are projected to push market expansion throughout the forecast period include the improved quality of life, the impact of beauty and personal care on self-esteem and social connection, and the steady consumer shift towards sustainable hair oil brands. Using hair oil to promote growth and strength is one of the country's latest trends in hair care. Women in Bangladesh are focused on using oils to improve hair strength, nourishment, and scalp and to help hair to aid in growth.
  • While many women in the country use oils around their kitchen, like olive oil and/or coconut oil, some other oils are believed to offer even more benefits to hair and scalp. For instance, almond oil makes the hair feel smoother to the touch. It often makes the hair softer, making it easier to comb through and style. Some women in the country even put a small amount of oil into other hair products like shampoo, conditioner, or leave-in products to help give an extra boost of moisture which is expected to boost sales further.
  • Furthermore, with the fast-paced recovery of developing economies leading to increased disposable income and decreased inflation, consumer prices are expected to support the hair oil market demand during the forecast period.
  • For instance, based on data from the World Bank, in 2021, the annual inflation rate for consumer prices was recorded at 5.5%, showing a slight decrease compared to the previous year when it stood at 5.7%. However, vendors are expected to face ongoing challenges due to intense competition, pricing concerns, and evolving consumer preferences, all of which will continue to exert pressure on their profit margins.

Bangladesh Hair Oil Industry Segmentation

Hair oil is an oil-based personal care product intended to improve the condition of hair.

The Bangladeshi hair oil market is segmented based on the product type and distribution channel. Based on the product type, the market is segmented as almond oil, coconut oil, olive oil, and other product types. Based on the distribution channel, the market is segmented as hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels.

The market sizing has been done in value terms in USD for all the abovementioned segments.

Product Type
Almond Oil
Coconut Oil
Olive Oil
Other Product Types
Distribution Channel
Hypermarket/Supermarket
Convenience Store
Online Retail Stores
Other Distribution Channels

Bangladesh Hair Oil Market Size Summary

The Bangladesh hair oil market is poised for significant growth, driven by evolving consumer preferences and increasing awareness of personal care. The market is experiencing a shift towards sustainable and herbal hair oil brands, as consumers become more conscious of the benefits of natural ingredients. This trend is further supported by the rising demand for products that promote hair strength, nourishment, and growth. The introduction of value-added herbal hair oils and innovative packaging solutions, such as sachets, has also contributed to market expansion, particularly among rural and lower-income populations. The growing popularity of e-commerce and online shopping platforms is enhancing market penetration, providing consumers with easier access to a wide range of hair oil products.

Key players in the market, including Marico, Dabur, Kumarika, Bajaj Corp Ltd, and Emami, dominate the landscape with their extensive product offerings and distribution networks. These companies are actively engaging in strategic initiatives such as partnerships, expansions, and new product launches to maintain their market share. The competitive environment is characterized by aggressive promotional activities and collaborations with popular personalities to boost brand visibility and sales. Despite the challenges posed by intense competition and pricing concerns, the market is expected to continue its upward trajectory, supported by increasing disposable income and a growing focus on personal grooming and self-care among consumers in Bangladesh.

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Bangladesh Hair Oil Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Almond Oil

      2. 2.1.2 Coconut Oil

      3. 2.1.3 Olive Oil

      4. 2.1.4 Other Product Types

    2. 2.2 Distribution Channel

      1. 2.2.1 Hypermarket/Supermarket

      2. 2.2.2 Convenience Store

      3. 2.2.3 Online Retail Stores

      4. 2.2.4 Other Distribution Channels

Bangladesh Hair Oil Market Size FAQs

The Bangladesh Hair Oil Market is projected to register a CAGR of 5.69% during the forecast period (2024-2029)

Dabur, Kumarika, Emami Limited, Marico and Bajaj Consumer Care are the major companies operating in the Bangladesh Hair Oil Market.

Bangladesh Hair Oil Market Report Snapshots