Hair Care Market in US by Product and Distribution Channel - Forecast and Analysis 2020-2024

  • Published: Jun 2020
  • Pages: 120
  • SKU: IRTNTR41414
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The hair care market size in the US has the potential to grow by $1.15 billion during 2020-2024. The market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by distribution channel (offline distribution channel and online distribution channel) and product (shampoo, hair color, conditioner, and others). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Amway Corp., Coty Inc., Henkel AG & Co. KGaA, Kao Corp., L'Oréal SA, LVMH Moët Hennessy Louis Vuitton, Revlon Inc., The Estée Lauder Co. Inc., The Procter and Gamble Co., and The Unilever Group.

Market Overview

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Market Competitive Analysis

The US hair care market is fragmented owing to the presence of several established vendors. The competitors compete on varied factors, such as product quality, technological innovation, packaging, and promotional activities. LVMH Moët Hennessy Louis Vuitton, Revlon Inc., The Estée Lauder Co. Inc., The Procter and Gamble Co., and The Unilever Group are some of the major market participants. Although the availability of a wide range of colors and color shades will offer immense growth opportunities, the presence of counterfeit products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this US hair care market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this US hair care market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Amway Corp.
  • Coty Inc.
  • Henkel AG & Co. KGaA
  • Kao Corp.
  • L'Oréal SA
  • LVMH Moët Hennessy Louis Vuitton
  • Revlon Inc.
  • The Estée Lauder Co. Inc.
  • The Procter and Gamble Co.
  • The Unilever Group

Hair Care Market in US: Segmentation by Product

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The hair color segment will offer several growth opportunities to market vendors during the forecast period. Over 31% of the US hair care market growth will originate from the hair color segment during the forecast period. Market growth in this segment will be faster than the growth of the market in shampoo, conditioner, and other segments.

Hair Care Market in US: Segmentation by Distribution Channel

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Market growth in the offline distribution channel segment will be slower than the growth of the market in the online distribution channel segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the US hair care market size.

Hair Care Market in US: Key Drivers and Trends

There is a growing demand for new and innovative hair care products. This is encouraging manufacturers to launch advanced hair care products. Product innovation and product line extension that will lead to product premiumization is one of the major factors driving the market growth. For instance, one of the premium professional hair care product manufacturers, Alterna Haircare by Henkel, offers Bamboo Smooth Anti-Frizz AM Daytime Smoothing Blowout Balm and PM Overnight Smoothing Treatment. The purchase volume of such products is increasing as they protect the hair against frizz and humidity and are free of sulfate, phthalate, and paraben.

Moreover, there is also increasing preference for organic products. The growing demand for natural and organic hair care products has encouraged manufacturers to introduce plant-extracted colors, and this will also influence market growth. Some natural hair colorants introduced in the US market include Henkel’s Schwarzkopf Professional Essensity and L’Oréal’s L’Oréal Paris Prodigy. As a result of such factors, the US hair care market will register a CAGR of over 1% during the forecast period.

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Hair Care Market in US: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive US hair care market growth during the next five years
  • Precise estimation of the US hair care market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of US hair care market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The hair care market growth will increase by $0.69 billion during 2019-2024.
The hair care market is expected to grow at a CAGR of 1.08% during 2019-2024.
Technavio has segmented the hair care market by product (Shampoo, Hair color, Conditioner, and Others) ,distribution channel (Offline distribution channel and Online distribution channel) , and geographic (North America, APAC, Europe, MEA, and South America).
Amway Corp., Coty Inc., Henkel AG & Co. KGaA, Kao Corp., LVMH Moët Hennessy Louis Vuitton, Revlon Inc., The Estée Lauder Co. Inc., The Procter and Gamble Co., The Unilever Group are a few of the key vendors in the hair care market.
North America will register the highest growth rate of 36.02% among the other regions. Therefore, the hair care market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Germany
  • Brazil
  • Japan
The key factors driving the hair care market growth are:
  • Availability of a wide range of colors and color shades
The hair care market vendors should focus on grabbing business opportunities from the shampoo segment as it accounted for the largest market share in the base year.
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