Market Trends of North America Hair Care Industry
Growing Influence of Social Media and Impact of Digital Technology on the Market
The emergence of evolving technologies, such as smartphones, personal computers, the internet, e-commerce, social media, communication strategies, and marketing campaigns, have changed the landscape of the region's personal care products market. The players operating in the market have been using influencer marketing on social media to influence customers and encourage advertisers and marketing practitioners to shift their brand conversations in the digital space. Social media has become an increasingly important platform for brands to showcase their products. Social media posts can reach a wide range of potential customers across the country and generate buzz, particularly in the beauty and personal care industry. Leading brands such as L'Oréal, Unilever, and Estée Lauder, among others, have been turning to Facebook, Instagram, and YouTube to promote product launches and engage their consumers with tutorials and promotional campaigns.
Additionally, social media platforms have also helped expand the reach of smaller companies or start-up brands which lack large marketing budgets or, in some cases, even an offline presence. These brands have also been focused on sharing their narrative and ideology, along with a detailed description of the ingredients used in their products and their sources, with potential consumers to create a sense of transparency and awareness, which in turn helps attract a more extensive consumer base. Consumers are more likely to discover new brands or products via advertisements and updates on brands' social media pages on platforms including Facebook and Twitter. Furthermore, beauty and personal care product consumers tend to take into consideration product reviews and other consumers' opinions in the form of recommendations, comments on social media, posts from expert bloggers, or celebrity endorsements before making their purchase decision. Thus, the growing influence of social media coupled with digital technological advancements has been further augmenting the growth of the market over the review period.
United States Occupies the Largest Share of the Market
The US hair care market is experiencing an escalating pull by the availability and affordability of hair care products, such as shampoos, conditioners, oils, and sprays, leading to the enhanced spending pattern in the hair care market. Furthermore, the market witnessed an increasing number of millennials experiencing hair problems, like hair fall and dandruff, owing to changing lifestyle patterns, along with an increase in stress levels among the working-class women population, which is expected to boost the demand for these products in the forecast period.
In response to the rising expenditure on hair care products, the players operating in the market are following various strategies, like product innovation, expansion, and promotional investments, to occupy the market share. The shift in consumer preferences and discretionary spending on hair care products by consumers are encouraging manufacturers to bring product innovations in terms of packaging to boost the market demand. Products, such as treatment oils for hair loss protection, imparting shine, and decreasing frizz, are available in dropper packaging for dosing and precise application. Companies also started offering travel-size packaging, such as sachets, deluxe samples, and mini bottles, for convenience and portability, which helps drive the market studied. For instance, in September 2022, Epres launched a new product, Olaplex, for bond repair for heat-damaged hair.
