Market Size of Global Premium Hair Care Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Premium Hair Care Market Analysis
The global premium hair care market is projected to register a CAGR of 6.6% during the forecast period, 2022-2027.
The COVID-19 pandemic had positively influenced consumers' spending habits and purchase decisions and had also witnessed a slowdown in growth owing to various governments imposing multiple measures intended to slow down the spread of COVID-19. Some basic initiatives included social isolation directives, limitations on business opening hours, and travel restrictions. According to the International Journal of Dermatology and the US National Library of Medicine, hair loss had been found to be a late onset symptom of COVID-19 with almost 25% of patients reporting the issue and Telogen effluvium (an acute hair loss that is experienced when the body goes through physical trauma such as illness, pregnancy or even a crash diet). Another notable trend is the rise of do-it-yourself (DIY) hair care products and routines. As many beauty salons had closed, and even in places where they were not, consumers had forgone services owing to concerns over close physical contact. As a result, DIY hair coloring is finding new customers with the hair dye sales increasing 23% in Apr 2020 (Y-O-Y) as stated by Baird.
Over the medium term, consumers across the global market face varied hair care-related problems, among which, hair loss and oily scalp are the most common ones. These problems are mainly due to hot and sweaty weather conditions, pollution, among others which lead the consumers to shampoo their hair daily, removing the natural oils present in the hair or scalp. This in turn is driving the global premium hair care market.
Increasing celebrity endorsements and raising awareness about the harmful effects of chemicals and synthetic products augment the demand for natural/organic, and vegan hair care products, along with ease of usage and availability of small travel-size packs acting as significant trends observed in the market.
Premium Hair Care Industry Segmentation
Premium hair care refers to the hygiene and cosmetic care provided for the hair so that it would be healthy, clean, and stylish. These products cost more than mass-produced hair care products and offer better quality. The market studied is segmented by type, distribution channel, and geography. Based on type, the market studied is segmented into shampoo, conditioner, hair color, hair oil, hair creams and masks, hair styling products, and other types. Based on distribution channels, the market studied is segmented into hypermarkets/ supermarkets, specialty stores, online stores, convenience stores, and other distribution channels. Based on geography, the market studied is segmented into North America, Europe, Asia-Pacific, South America, Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| By Type | |
| Shampoo | |
| Conditioner | |
| Hair Color | |
| Hair Oil | |
| Hair Creams and Masks | |
| Hair Styling Products | |
| Other Types |
| By Distribution Channel | |
| Hypermarkets/Supermarkets | |
| Specialty Stores | |
| Online Stores | |
| Convenience Stores | |
| Other Distribution Channels |
| By Geography | |||||||||
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Global Premium Hair Care Market Size Summary
The global premium hair care market is experiencing a significant transformation, driven by evolving consumer preferences and increased awareness of product ingredients. The market is witnessing a growing demand for natural and organic hair care products as consumers become more conscious of the harmful effects of synthetic compounds like parabens and aluminum. This shift is further fueled by the rise in DIY hair care routines, particularly during the COVID-19 pandemic, which led to a surge in hair dye sales as consumers sought alternatives to salon services. The market is also seeing a trend towards vegan and cruelty-free products, with celebrity endorsements playing a crucial role in shaping consumer choices. The emphasis on natural formulations is prompting companies to innovate and launch products with plant-based and botanical ingredients, catering to the demand for safer and more sustainable options.
Regionally, the Asia Pacific market is poised for rapid growth, driven by increasing disposable incomes and a heightened focus on personal grooming and hygiene. The influence of K-Pop culture and celebrities in Thailand and Korea is further propelling the demand for premium hair care products, particularly among millennials. The market is characterized by a diverse range of specialized products addressing various hair and scalp issues, from hair fall to dryness. Key players such as Procter & Gamble, L'Oreal, and Unilever are actively expanding their product portfolios and distribution networks, leveraging mergers, acquisitions, and strategic partnerships to enhance their market presence. The competitive landscape is marked by continuous innovation and a focus on research and development, as companies strive to meet the growing consumer demand for high-quality, effective hair care solutions.
Global Premium Hair Care Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Shampoo
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2.1.2 Conditioner
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2.1.3 Hair Color
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2.1.4 Hair Oil
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2.1.5 Hair Creams and Masks
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2.1.6 Hair Styling Products
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2.1.7 Other Types
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2.2 By Distribution Channel
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2.2.1 Hypermarkets/Supermarkets
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2.2.2 Specialty Stores
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2.2.3 Online Stores
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2.2.4 Convenience Stores
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2.2.5 Other Distribution Channels
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 Spain
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Global Premium Hair Care Market Size FAQs
What is the current Global Premium Hair Care Market size?
The Global Premium Hair Care Market is projected to register a CAGR of 6.60% during the forecast period (2024-2029)
Who are the key players in Global Premium Hair Care Market?
Procter & Gamble Company, The Estee Lauder Companies, L’Oreal S.A., Johnson & Johnson and Unilever Plc are the major companies operating in the Global Premium Hair Care Market.
