The past decade has brought about a great cultural shift in the thought process of people worldwide. With emerging aesthetic awareness and a tendency to capitalize on the purchasing power brought about with a rise in disposable income of people, general masses are advancing towards novel applications of hair care products, thus increasing the demand for it.
According to a recent UN report, 92 percent of the world’s population is living in areas where pollution levels are exceeding tolerable levels. Air pollution levels and hair care are related in the sense that as the dust particles carried by the air increases, a certain type of fungus feeds on peoples scalp, damaging the hair growth. Likewise, another forecast tells that people aged over 60 are going to double by 2050 and triple by 2100. This trend forecasts that as aging is going to become apparent, issues like baldness are making older people to reach out to cosmetology services.
Millennial population in workplaces is another factor that is reflecting positively over the hair care industry overall. As millennial crowd aspire to present itself best, it is nothing but imperative that hair care related to fashion trends such as perming are going to see a rise. Bringing about all these facts to the forefront, it can be assumed that the professional hair care market companies are in for a fruitful future like never before.
According to a recent data report by IndustryARC, global professional hair care market oozed from opportunities worth $14,000 to $14,600. The analyst of the report assigns a CAGR of 2.5 to 3.5% to the market over the course of 2019 to 2025. Additionally, Europe has been identified as the key region, chunking out 34% to 36% of the overall demand as of 2018. It is observed while analyzing the trends that above all, people are more concerned about coloring their hair to make their appeal count. Speaking purely in terms of coloring application, the segment is projected for a CAGR of 2.5% to 3% through to 2025.
Professional Hair Care Market: Competitive Landscape
Some of the key companies that are operating in this space and making strides are Henkel AG and Company, KGaA, IDA, Kao Corporation, L’Oreal S.A, Procter & Gamble, Milbon Co, Shiseido, Unilever, and Revlon. Henkel AG operates globally in serving coloring applications. One of its subsidiaries, Schwarzkopf Professional is among the world’s three top suppliers of hair salon products. IDA, on the other hand, specializes in services such as perming and repair of damaged hair. IDA mentions of carrying along a philosophy of innovation in technologies in repairing damaged hair.
Kao having been established in 1887, is leaning on USP’s such as cleanliness, beauty, and health for 130 years. L’Oreal S.A manufactures cosmetics including beauty and hair care products. Procter & Gamble is a hair care brand operating in developing countries such as India with sustainability as its principle.
Milbon Co is another hair care company which is betting on technology in the form of advancements such as electronic hair color stimulation suppression. Shiseido, on the other hand, is holding value components such as delivering a holistic hair care experience by integrating its backend and front end offices tightly. Unilever is a brand focused company which is used by 2.5 billion people every day. Clear is one of the sub products to maintain hair well-conditioned. Revlon has electronic product advantages. One such innovative technology advancement of Revlon is electronic hair root removal which helps people keep the scalp shining. Estee Lauder is a women pioneering brand built to serve the needs of woman hair care. It actively addresses its brand to be women-centered by launching several campaigns over the World Wide Web.
Australia Professional Hair Care Market
Hong Kong Professional Hair Care Market
India Professional Hair Care Market