The increasing demand for hair colour products, linked to the aging global population as well as the need to protect and hair from the increasing air pollution, are the major factors contributing toward the growth of the global hair care market, found Grand View Research in a recent report . According to the market research firm, the global hair care market is expected to reach USD 211.1 billion by 2025.
Several other trends contribute to the market growth and boost sales of products and services: the fashion industry, rising hair-related problems, technological innovation in product manufacturing. In addition, high penetration of salon services across the globe along with increasing demand for professional products, and changing grooming pattern especially among male consumers also contribute to boost sales of hair care products.
In emerging markets, the increasing migration of rural population to metropolitan areas and rising expenditure on beauty and personal care products are anticipated to accelerate the market growth. Thus, resulting in the introduction of modified products sustaining the various needs of the consumers based on different cultures, regions and hair types.
Other key findings of the study are:
- Services held the largest market share, in part due to the growing popularity of hair extensions in countries such as the United Kingdom, and the United States, and to the inclination towards enhanced appearance coupled with growing population base.
- Sales of shampoos are boosted by the rising demand for organic and natural shampoos and by the increased frequency of use linked to air pollution. As a result, shampoo is holding the largest share in the product segment.
- Hair colour is expected to witness fastest growing product over the forecast period.
- India is expected to be the fastest growing country with a CAGR  of 9.73% due to the presence of wide range of hair oil products.