Market Trends of Hair Styling Products Industry
This section covers the major market trends shaping the Hair Styling Products Market according to our research experts:
Innovation and Social Media Triggering Market Growth
Increasing demand for different hair styling products is due to consumer interest in new hairstyles, hair colors, and new product innovations. The primary reason for the growth in demand for hair styling products is the adoption of different Western hairstyles, along with making the hair straight, curly, and wavy, among other styles. The innovation by various companies in creating new hair styling products is further adding to market demand. For instance, in 2022, the Complex Culture brand launched a fresh hair mist, Heat Cheat, which can be applied on damp hair before blow-drying, or on dry hair before using styling tools. This heat-protectant mist helps in protecting hair from heat styling damage.
Additionally, the millennials and gen Z are much more attracted to styling their hair owing to social media influence. The population is interested in trying different hairstyles by observing celebrities and influencers on social media platforms. This growing use of social media and adaptation of social media trends is also driving market growth.
Asia-Pacific Emerging as the Fastest-growing Market
Asia-Pacific is the fastest-growing region for the hair styling products market. The market includes a high growth rate, and China caters to a large portion of the market demand. The key players in the market focus on understanding the demand from customers in the urban and youth populations, along with their willingness to spend on the premium products offered. Products designed for focused hair types are gaining popularity among users, with companies now focusing on products rich in active ingredients. Across all products, price segments, and sectors, there is an increase in demand for natural ingredients that feature essential oils and organic and biodynamic ingredients. Other countries like India, Japan, and Australia contribute to the market's growth due to their interest in foreign hairstyles. Market players are targeting consumers of a certain age, especially teenagers and millennials. For instance, in September 2021, Kao Corporation launched the " Cape for Active" series of hair spray in collaboration with the famous anime series Jujutsu Kaisen. Because of this collaboration, young consumers in the country are attracted to the products.
