by The professional hair care market encompasses a wide range of hair care products such as shampoos, conditioners, hair colorants, hair sprays, and hair gels. These products are utilized by professional hair stylists, beauticians, and hairdressers across salons and barber shops. Professional hair care products provide superior quality and performance compared to regular retail products due to the presence of premium ingredients and formulations. The professional hair care segment caters to various hair care needs such as curling, straightening, strengthening, coloring, volumizing, and conditioning. Furthermore, the launch of innovative hair care solutions associated with hair texturizing, anti-aging, damage repair, and hair growth promotion is fueling market revenue.
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.
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 strategic collaborations to expand their market share.
The key opportunities in the Professional Hair Care Market Growth include rising disposable income, increasing penetration of salons and barbershops globally, growing beauty consciousness among consumers. The market players are focusing on regions including Asia Pacific and Middle East & Africa owing to growing middle-class population and increasing beauty services spending in these regions.
The professional hair care market is witnessing high growth owing to increasing consumer spending on premium hair care products. The consumers are willing to pay more for professional hair care products believing that these products give long-lasting and better hair health results. Also, rising influence of social media and digital content related to hair styling and fashion trends is promoting premium hair care product adoption worldwide.
Market Drivers
The key driver promoting the Professional Haircare Market Analysis growth is the increasing consumer spending on premium hair care products. The impact of social media and digital content related to hair styling and latest fashion trends is making consumers brand conscious and they are willing to pay more for professional hair care products believing that these products give long-lasting and better hair health results unlike regular retail products. This has increased the demand for salon hair products globally and boosted the market revenues.
PEST Analysis
Political: The professional hair care market is impacted by regulations related to the formulation and sale of hair care products. Regulations ensure product safety and quality.
Economic: The overall GDP growth impacts consumer spending power and demand for professional hair care products. Higher disposable incomes increases the spending on hair treatments and styling products.
Social: Changing lifestyles and fast-paced lives have increased the demand for professional hair care services. Social media influence has made styling and hair treatments more popular. Consumers pay more attention to hair appearance and fashion trends.
Technological: Advancements in hair care ingredients and formulations have led to products that offer long lasting effects with minimal damage. Digital marketing platforms help professionals connect with their target audience and promote their services online.
Content about geographical regions where market in terms of value is concentrated
The professional hair care market in North America holds the largest share, led by the United States. High purchasing power, large beauty industry, and focus on latest trends drives demand. The Europe market is second largest supported by widespread availability of salons and growing demand for hair care services. Asia Pacific is the fastest growing region due to rising incomes, large population, and increasing western influence on fashion and grooming trends in countries like China and India.
Content about the fastest growing region for given market
The professional hair care market is witnessing rapid growth in the Asia Pacific region. Factors such as rising incomes, growing middle class, increasing consumer spending on personal care, western influence on salon culture and styling trends are fueling market expansion. Countries like China, India, Japan, Indonesia, Vietnam and others provide immense opportunities for established brands as well as local manufacturers. Urbanization, digitization and social media also promote awareness about various hair care services and treatments in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
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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
