The new report by Expert Market Research titled, ‘Global Hair Growth Products Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global hair growth products market, assessing the market based on its segments like product types, genders, age groups, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 7.82 billion
- Forecast CAGR (2022-2027): 30%
The hair growth products market is being driven by the rising cases of hair loss, increasing prevalence of scalp related issues such as dandruff, growing awareness about hair care, increasing disposable incomes, and the emerging e-commerce industry. In addition, the growing popularity of premium hair growth products including shampoo, conditioners, serums, and oils, among others, coupled with the improving standards of living is anticipated to provide a boost to the market growth in the forecast period. Geographically, Europe is likely to attain a significant growth in the forecast period owing to the growing demand for natural and plant-based hair care products in the region. Additionally, the growing endorsement activities on social media platforms to promote the use of hair care products and influence the masses are likely to provide impetus to the market in the forecast period.
Industry Definition and Major Segments
Hair growth products refer to products that support the health of hair by preventing the issues of hair fall and nourishing the scalp, making the hair smooth and silky. The majorly used hair growth products include shampoo and conditioner, serums, and vitamins, among others.
The hair growth products industry, on the basis of product type, can be segmented into:
- Shampoos and Conditioners
- Serums
- Oils
- Supplements and Vitamins
- Others
Based on gender, the market can be bifurcated into:
- Men
- Women
On the basis of age group, the market can be segmented into:
- Under 35
- 35 to 50
- Above 50
The regional markets for hair growth products include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The product innovations, coupled with the growing research and development activities in the personal care sector are likely to contribute towards the market growth. Several pharmaceutical companies are also working towards the development of prescription drugs and supplements to treat the problem of hair fall. Moreover, the growing demand for plant-based and clean-labelled products by consumers is also compelling manufacturers to diversify their product portfolio and meet this growing demand. Such developments are projected to support the market growth in the forecast period.
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Key Market Players
The major players in the market are Johnson & Johnson Consumer Inc., Vita Balance Inc., Philip Kingsley Products Ltd, Glenmark Pharmaceuticals, Farouk Systems, Inc., Nutraceutical Wellness Inc., and Mosaic Wellness PVT LTD., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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