The global hair loss products market size to cross USD 4 billion by 2025, growing at a CAGR of over 6% during the forecast period. The global hair loss treatment products market is witnessing robust growth, which is expected to continue during the forecast period. An increasing number of customers demanding hair loss products to meet functional purposes has been driving the market over the last few years. The number of people with androgenetic alopecia (hair loss & ailments) is growing at a steady pace.
The usage and demand for hair care products such as serums, shampoos, conditioners, and oils to improve the volume or strength have been increasing. The global demand for premium-quality hair wigs and extensions is influencing manufacturers to establish production facilities in Asian countries in China and India. It offers hair loss products at a lower cost than global markets. Low-priced goods are becoming extremely popular among price-conscious customers that explore cost-efficient options for surgical hair replacement procedures.
Moreover, the growth in per capita disposable income has increased discretionary spending among several European countries, which bodes well for manufacturers in the region. The influence of social media is driving the demand for hair care products, especially for natural and organic ingredients. The growing inclination toward the maintenance of cleanliness and hygiene is another major driver. The introduction of innovative and differentiated products, as well as enriching consumer experience with the help of technological advancements, is further fueling the market growth.
- The shampoo and conditioners segment is estimated to be the largest segment. It is expected to account for 48% of the total revenue in 2025
- APAC is likely to be the fastest-growing region in the global hair loss products market. The region is growing at CAGR of 6% during the forecast period
- The emergence of onion-based hair oils will drive the oil segment. The total segment will account for 19% revenue in 2025
- The offline segment is expected to grow at an increment growth of over $900 million by 2025
HAIR LOSS PRODUCTS MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Distribution channels
INSIGHTS BY PRODUCTS
Shampoos and conditioners are the most widely penetrated hair care products worldwide. The segment accounts for the largest revenue share among both male and female consumers across the globe. One key reason for the high adoption of these products, especially among men, is the convenience of usage as they can easily be fit into daily bathing and grooming routines.
Oils are the most common and widely utilized hair care products and constitute an essential component of hair care kit, primarily in developing countries of APAC. Oils are gaining traction in European countries such as France and Italy. The growth is on account of the incorporation of organic and essential oil extracts, which have regrowth properties. Serums, such as oils, have a wider inclination among women and have a high adoption in Europe and North America as women are suffering from hair loss. With the rise in the number of new alternatives with traditional ingredients such as onion and argan, the segment can impact significant growth opportunities in the coming years.
INSIGHTS BY GENDER
The women segment is expected to maintain its dominance during the forecast period. This is due to the increasing fashion awareness and collective popularity of hair care products among females. More than 80% of women are apprehensive about the ingredients in the products related to essential care. Hence, the demand is not growing for organic-based products, but also ingredients.
The men's hair loss products market share is witnessing a steady growth. Although women consumers dominate the overall segment, there has been a gradual rise in the number of men consumers. This growth can be attributed to the growing awareness of the side effects of hair growth drugs and surgical procedures worldwide. Another important factor driving growth is the rising demand for grooming and styling products among men across the globe.
INSIGHTS BY DISTRIBUTION CHANNELS
The distribution channel modes include online and offline mediums. The online segment includes official company websites and third-party vendors. The offline channel is further segmented into supermarkets, department stores, chemists, catalogs, spas & salons, and other modes such as hair clinics. To gain a competitive edge, vendors are relying on the multi-channel sales model.
The purpose of multi-channel is to diminish the gap between different distribution channels and provide a common path for engagement with consumers. One such example of a multi-channel sale is the launch of pop up stores. Pop-up stores provide engagement and consumer interaction to online as well as offline consumers. In emerging economies, the e-commerce sector is playing a significant role in product penetration, which extends the reach beyond the limit of traditional distribution.
INSIGHTS BY GEOGRAPHY
The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. Japan is leading the hair loss products market, followed by China and India. Australia and Singapore lag in the revenue momentum owing to the niche demand from core target consumers.
Europe, with a market share of 25%, is estimated to continue its significance during the forecast period. The growth can be concentrated in Norway, Sweden, the Netherlands, Italy, Poland, and Russia. The UK, Germany, Italy, and France can serve as the hotspots for the launch of premium and luxury goods in Europe.
North American hair loss market is expected to contribute 15% of the total market revenue by 2025. The US region is the major contributor. The region is expected to witness the growth of numerous domestic vendors in the next five years. The shift in the grooming trend among generation X and millennials is more likely to sustain during the forecast period.
INSIGHTS BY VENDORS
Customer demands have steered the global market. Manufacturers have been introducing new produces depending on the prevailing trends in fashion, beauty, and personal sectors. However, this has not been able to increase the demand for hair care products. This is because new trends and products showcased by celebrities and influencers on social media are one of the primary factors propelling the market in the current scenario.
The market is observing consolidation wherein several vendors are focusing on the acquisition of domestic brands to strengthen their product portfolio. With the help of acquisitions, vendors are also trying to reduce the competition.
Local vendors in the regional area are catering to the demands of the consumers by launching products based on the demography of the region. For example, Loreal updated its product offerings per consumer preferences in Brazil.
The global hair loss products market research report offers trends, growth enabers, and restrains of the market. The report includes revenues & forecasts for the following segments:
Segmentation by Product
- Shampoos & Conditioners
By Distribution Channels
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa