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Professional Hair Care Market Growth Accelerated by Rising Beauty Consciousness

Professional Hair Care Market Growth Accelerated by Rising Beauty Consciousness

The global professional hair care market is anticipated to witness high growth owing to the rising beauty consciousness among consumers globally. Professional hair care products are used to maintain and treat hair problems among consumers and professionals in salons. These products offer several benefits such as strengthening hair roots, preventing hair fall and dandruff, moisturizing and repairing damaged hair. The growing concern for hair care and treatment of hair problems has fueled the demand for professional hair care services and products in the recent years.

The Global professional hair care market is estimated to be valued at US$ 25.96 Bn in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 To 2031.

Rising disposable incomes and expanding working women population have boosted consumer spending on styling and Professional Hair Care Market Growth . In addition, growing preference for organic and natural ingredients based products is encouraging manufacturers to bring innovative products.

Key Takeaways

Key players operating in the professional hair care market are Meta Inc., HTC Corporation, Unity Technologies, Microsoft Corporation, Samsung Electronics Co., Ltd., Magic Leap, Sony Corporation, Vuzix Corporation, Apple Inc, Niantic Inc., Northern Digital Inc., Snap Inc., SoftServe, and Accenture. These players are focusing on new product launches and expanding their business globally.

Key opportunities in the market include increasing salon businesses globally. Rising beauty consciousness and preference for professional hair treatments are propelling the growth of various hair styling services including hair spa, hair coloring, Keratin treatment etc. This is positively impacting the professional hair care market.

The professional hair care market players are expanding their business globally especially in emerging economies of Asia Pacific and Latin America. Regions like China, Japan, India are expected to witness high growth owing to rising middle class population and growing focus on modern hairstyles.

Market drivers and restrain

Rising working women population: Growing number of working women globally is significantly driving the demand for professional hair care products and services. Working women prefer styling, treatment and coloring of hair on regular basis which is positively impacting the market growth.

Increasing beauty consciousness: Consumers nowadays are more conscious about their looks and personal grooming. They are regularly visiting salons to maintain and style their hair which requires the use of professional hair care products. This is a major factor fueling the market growth.

High cost of professional services: The professional hair treatments, styling and coloring services are expensive depending upon the procedure and brand used. This high cost of services acts as a major restraint for the market especially in price sensitive developing regions.

Segment Analysis

The professional hair care market Companies can be segmented based on product type as hair coloring, shampoo, styling agents. Hair coloring dominates the market with over 35% share owing to rising preference for coloring hair to look younger and hide signs of aging among people of all age groups. The product offers temporary and semi-permanent solutions through different formulations like liquid, cream-based, gels etc in different shades to suit every hair type.

Global Analysis

North America dominates the professional hair care market with over 40% share driven by high spending power of consumers, presence of major players and professional salons/stylists. The region witnessed over 25% value growth during forecast period driven by US market which is one of the largest individual markets globally. Asia Pacific is the fastest growing region expanding at over 30% CAGR led by China, India and countries of Southeast Asia. Increasing disposable income, inclination towards modern beauty treatments and mushrooming of salons and studios have been driving growth in the region.

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

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