2013-12-30 13:46:24 - The global professional hair care market is expected to grow at a CAGR of 4.5%, reaching more than US$ xx Billion by 2018.
The demand for professional hair is expected to increase at a steady pace over the forecast period. The increase in demand could be attributed to an increase in demand for hair oils. Hair oils are leave-in treatments that leave hair shiny and this feature attracts the consumers. Ever since their launch, hair oils have had a unique place in the market, that could never have been replaced by any category of products and it is expected to remain the same for the coming years. Additionally, there have been a lot of promotional activities in the take-home segment of professional hair care products in terms of value-packages and gifts of purchases, driving the demand to the next level, and resulting
in an increase in sales.
In Asia, the main reason for demand increase has been heavy promotional activities over the Television, while in Europe hair oils have been driving the market. Europe stands tall among all the continents, leading with the highest market share, while Latin America shows the highest growth in terms of sales. This shows that the Latin American market has an untapped potential for the industry and the manufacturers can expect huge profits in this continent.
While companies such as L’Oreal and Procter & Gamble are the major players in the global professional market, few outlets such as the drug store chains and the mobile hairdressers are disrupting the market by diverting the products and selling them in different packages. Diversion has been a critical issue and is being taken seriously by many manufacturers.
The IndustryARC report on the Global Professional Hair Care Market identifies many such insights and M&A opportunities, besides providing a detailed analysis of the professional hair care services.
IndustryARC is a research and consulting firm based out of India. We publish more than 20 reports every month in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Lifesciences & Healthcare and FMCG.