Rising air pollution to Augment Professional Hair Care Market Growth

Professional Hair Care Market

Professional Hair Care Market, By Type (Product, Services), By Product (Shampoo, Hair Color, Conditioner, Hair Styling Product, Hair Oil), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

 

The global Professional Hair Care Market is estimated to be valued at US$ 18072.9 million in 2022 and is expected to exhibit a CAGR of 4.6 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Shampoo, hair conditioner, hair wax, hair colorants, straightening & perming treatments, hair gel, and other products are among the professional hair care goods. The usage of these professional hair care products offers nutrition for the hair and scalp and also provides an attractive haircut and appearance.

 

Competitive Landscape:

Key players involved in the growth of the global Professional Hair Care Market are Milbon Co., Ltd., Estée Lauder Companies Inc., Henkel AG & Company, Procter & Gamble, KGaA, IDA(World Hair Cosmetics (Asia) Ltd), Kao Corporation, L'Oréal S.A, Shiseido Company, Unilever, Revlon, Inc.

 

Market Key Drivers:

Rising air pollution has led to an increase in the usage of hair care products. This is anticipated to drive the growth of the global Professional Hair Care Market. For instance, the hair care market is valued to be at US$ 88.5 billion.

Rising hair spas and saloons is projected to propel the growth of the global Professional Hair Care Market. For instance, as per the published reports around 75,000-80,000 hair spas are there across the globe. The global Nutricosmetics Market size was valued at US$ 9.9 Billion (revenue) in 2022 and is expected to expand at a CAGR of 11.76% and expected to reach 24.1 Billion in terms of revenue during 2023– 2030.

 

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of the global Professional Hair Care Market as the rising cases of the pandemic have imposed strict lockdown and restriction policies. The lack of moving people and the closure of beauty parlors and saloons to curb the spread of the virus has impeded market growth. The global Hair Care Products Market is expected to surpass US$ 152.26 Bn by the end of 2028, in terms of revenue, and exhibit a CAGR of 5.33% during the forecast period (2021 to 2028).

 

Key Takeaways:

The global Professional Hair Care Market is anticipated to exhibit a CAGR of 4.6 % during the forecast period rising mergers and acquisitions. For instance, L’Oréal entered an acquisition with the Canadian company ModiFace. This acquisition was put forward by L’Oréal to further increase its global expertise in beauty skills.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Professional Hair Care Market due to mergers and acquisitions, product expansions and rising hair salons and spas, and rising usage of hair care products. For instance, as per IBIS, in 2023 there were around 952,619 Hair Salons in the US.