According to the report by Expert Market Research (EMR), The global Hair Loss Products Market Size was around USD 10.70 billion in the year 2023. Aided by the increasing awareness regarding hair loss and the rising prevalence of hair loss, the market is estimated to grow at a CAGR of 8.0% between 2024 and 2032, reaching a value of nearly USD 21.4 billion by 2032.
Hair loss products are a variety of formulations designed specifically to address hair thinning, balding, and alopecia. These products aim to either prevent hair loss, promote hair regrowth, or improve the health of existing hair. Hair loss products comprise a range of formulations, including shampoos, serums, oils, and supplements designed to prevent hair loss, promote hair growth, and maintain scalp health.
The driving forces behind the hair loss products market growth include a growing awareness of hair care products, advancements in hair loss treatment formulations, and an increasing inclination towards personal grooming across both genders.
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The rising incidence of alopecia is largely attributed to a combination of genetic predispositions and lifestyle factors such as high stress levels, poor nutrition, and underlying health conditions like thyroid disorders and hormonal imbalances. These causes are becoming more widely recognised, leading to greater consumer demand for effective hair loss solutions. The healthcare sector’s focus on dermatological conditions, including hair health, also contributes to the increased diagnosis and treatment of alopecia, further fuelling the global hair loss products market expansion.
The global demographic shift towards a larger elderly population results in an increased incidence of age-related hair thinning and loss. As the median age rises worldwide, so does the demand for products that can alleviate or reverse age-associated hair loss. This demographic trend is significant in developed nations where there is higher spending power and a greater focus on maintaining a youthful appearance, driving the demand for hair restoration products.
Recent advancements in hair loss product formulations are significantly enhancing their effectiveness, propelling the hair loss products market growth. Innovations include the development of more potent synthetic compounds, such as new variations of minoxidil, and the integration of advanced biotechnology to create more bioavailable forms of natural supplements like biotin and collagen. Additionally, the incorporation of herbal extracts with scientifically-backed benefits, such as saw palmetto and pumpkin seed oil, appeals to consumers seeking natural treatment options. These innovations not only improve product efficacy but also help differentiate brands in a competitive market.
Economic growth in emerging markets has led to increased disposable incomes, allowing consumers to allocate more resources to personal care, including specialised hair care products. As standards of living improve, individuals are more inclined to invest in premium personal care products that offer specific benefits, such as hair loss prevention and scalp health improvement. A growing retail sector and the expansion of e-commerce, which makes these products more accessible to a wider audience, are also aiding the hair loss products market expansion.
Social media and other digital platforms have played crucial roles in both educating the public about hair loss and normalising the conversation around it. Influencers and celebrities sharing their experiences with hair loss treatments have helped reduce the stigma associated with such conditions. Moreover, aggressive marketing campaigns by leading brands have not only informed consumers about the latest products but also made the pursuit of hair loss treatment more mainstream. This increased awareness has led to a higher acceptance, consequently fuelling the hair loss products market development.
Hair Loss Products Market Segmentation
The global hair loss products market can be divided based on product, gender, distribution channel, and region.
Market Breakup by Product
- Shampoos and Conditioners
- Oils
- Serums
- Others
Market Breakup by Gender
- Men
- Women
Market Breakup by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Speciality Stores
- Pharmacies
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Hair Loss Products Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global hair loss products market. Some of the major players explored in the report by Expert Market Research are as follows:
- L’Oréal S.A.
- The Procter & Gamble Company
- Unilever PLC
- Taisho Pharmaceutical Holdings Co., Ltd.
- Minimalist PTE. LTD.
- Natura International Inc.
- Himalaya Global Holdings Ltd.
- Pierre Fabre S.A
- DHI Global Europe Ltd.
- Philip Kingsley Products Ltd.
- Others
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