The hair styling products market is expected to reach a valuation of US$ 23.5 billion in 2023 and is projected to be worth US$ 39.9 billion by 2033. The market is expected to record a significant CAGR of 5.4% CAGR.
Hair styling product manufacturers are increasingly developing multi-functional and innovative products that cater to the changing needs of consumers. Products that offer benefits such as heat protection, anti-frizz, and UV protection, along with their primary styling function, are becoming more popular among consumers.
Hair styling products that offer long-lasting shine and volume without causing damage to the hair are also in high demand. Multiple-purpose hair styling products, such as hair dryers with built-in styling tools, are becoming increasingly popular. The demand for these products has increased significantly due to the better quality and results that professional hair styling products provide compared to alternatives that can be made at home.
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The market for high-end, specialized products for professional use is increasing, focusing on efficiency, longevity, and great styling results. These products meet the needs of both consumers and experts by accommodating a variety of hair types, textures, and styles. Many people are searching for the same products used by top stylists for the ultimate in hairstyle perfection, which has only served to fuel this trend as a result of the growth of digital networking.
Growing Innovation and Product Improvement in Hairstyles, as well as a Huge Shift in Global Fashion Trends
As a result of developments, ingredients used in hair styling products have changed, as has the technology behind them. For instance, hair care products that stop hair loss, improved product preparations, and an increase in the availability of hairstyling and colorant products, have been a sign of individual identity. Earlier, only women purchased hairdo products. Guys are becoming more interested in using clays, waxes, and other styling products on their hair. This is also relevant because the world’s fashion trends are ever-evolving.
Growing Popularity and Introduction of Organic Hair Styling Products:
The introduction of organic products is another significant aspect that is driving the hair styling products market. People were hesitant to use hair products because they had so many drawbacks. A lot of people are also experiencing excessive hair loss, which makes it difficult for them to use hair products. The demand for organic hair care products is expanding significantly in the global market for hair styling products. The leading players in the market have launched a new line of organic products to draw clients.
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Key Takeaways:
- The market in Japan is expected to record a CAGR of 4.1% over the forecast period.
- Several companies focus on sustainability, eco-friendliness, and ethical sourcing in their product offerings to meet consumer demands and remain competitive.
- The use of social media and influencer marketing is becoming increasingly important in promoting hair styling tools and building brand awareness.
- Asia Pacific is expected to be a significant market for hair styling tools due to increasing disposable income, urbanization, and changing consumer preferences.
- The hairspray segment is expected to record a CAGR of 6.1% through the forecast period.
Competitive Landscape:
The competitive landscape of the hair styling products market is highly fragmented, with global and regional players competing for market share. Some key players in the market include L’Oreal SA, Procter & Gamble Co., Unilever PLC, Henkel AG & Co. KGaA, Amway Corporation, Avon Products Inc., Revlon Inc., Kao Corporation, Shiseido Company Limited, Estee Lauder Companies Inc.
These companies compete on product quality, pricing, marketing, and distribution strategies. They are investing in product innovation, expanding their portfolio, and exploring new distribution channels to remain competitive. Furthermore, companies focus on sustainability and ethical sourcing to meet changing consumer demands and stay ahead of the curve.
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Key Segments
Hair Styling Products Market by Product:
- Hair Gels
- Hair Sprays
- Styling Creams & Waxes
- Hair Mousse
- Others
Hair Styling Products Market by End Use:
- Household
- Salons & Spas
- Fashion Industry
Hair Styling Products Market by Gender:
- Male Hair Styling Products
- Female Hair Styling Products
- Unisex Hair Styling Products
Hair Styling Products Market by Sales Channel:
- Wholesalers/Distributors
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores and Online Stores
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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