Market Trends of Medicated Shampoo Industry
This section covers the major market trends shaping the Medicated Shampoo Market according to our research experts:
Increasing Expenditure on Hair Care Products
Growing awareness about hair care products through social media, magazines, and TV advertisements is encouraging consumers to purchase various hair care products, especially anti-dandruff and medical shampoo. Developed countries, like the United States and the United Kingdom, are witnessing a growth of 6-8% in expenditure on hair care products. For instance, according to the Bureau of Labor Statistics, the average annual expenditure on hair care products per consumer in the United States witnessed a growth rate of 8.02% between 2012-2017. In 2017, a consumer in the United States spent around USD 89.95 on hair care products, which also included hair loss treatment products. The development of distribution channels and the expansion of key players in rural regions are also supporting the rising expenditure on hair care products, including medicated shampoo.
Asia-Pacific Emerges as the Fastest Growing Market
Herbal and medicinal har care products are traditionally used in India, China, Japan, and Southeast Asia, and as a result, they are the prominent markets for these products in Asia. China and Japan together account for a major share of the Asian market. Concerns about beauty among Chinese and Japanese people are quite high, which supports the growth of the medicated shampoo market. Growing preference for foreign brands among working men and women in Asia drives the market. Increasing expenditure on personal care products in Asian countries is encouraging key players to launch more products addressing hair problems, such as scalp psoriasis. For instance, in 2017, Maruho Co. Ltd announced the launch of a topical scalp psoriasis treatment, Comclo® Shampoo 0.05%, for the Japanese market.
