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The hair loss treatment products market is estimated to grow by USD 2.21 billion at a CAGR of 4.6% between 2022 and 2027. The market is propelled by rising hair-related concerns among consumers. Innovative product developments and portfolio extensions drive premiumization, attracting consumers seeking effective solutions. Furthermore, increasing awareness about hair loss fuels demand for hair care products, spurring growth in the market as individuals prioritize addressing hair-related issues.
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This report extensively covers market segmentation by product type (vitamins and supplements, shampoos and conditioners, and others), gender (men, women, and children), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
By Product Type
The market share growth by the vitamins and supplements segment will be significant during the forecast period. The adoption of vitamins and supplements in the market is high due to factors such as rising awareness and consumption of these hair care products and the increasing demand from developing countries.
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The vitamins and supplements segment was valued at USD 3.16 billion in 2017 and continued to grow until 2021. Vitamins and supplements are great for the overall health of the hair and boost hair growth significantly. Vitamins fight frizz, tame flyaways, and protect against heat damage caused by styling tools. Meanwhile, supplements such as iron, biotin, zinc, selenium, and folic acid improve hair health and growth. Such factors are driving the growth of the vitamins and supplements segment in the market during the forecast period.
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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Countries such as China, Japan, and India are the major revenue contributors in APAC. This is due to the changing climate in various regions of APAC, which is an environmental factor causing people to suffer from hair damage and hair loss-related issues. Major manufacturers such as Unilever PLC, and L'Oreal SA, have been introducing innovative and enhanced hair loss treatment products every year, which are affordable and easily available in all supermarkets and hypermarkets in developed as well as developing countries. Moreover, the growing trend of online shopping is contributing to the growth of the market in APAC. In developing markets, e-commerce Companies offer discounts on almost every product to increase the volume of sales of personal care products, including hair loss treatment products.
The Hair Loss Treatment Products Market experiences significant growth driven by factors such as androgenetic alopecia and alopecia areata affecting diverse demographics, including Millennials and Indian and Chinese populations. Lifestyle patterns and stress levels contribute to hair loss concerns, prompting increased demand for solutions. Organizations like the American Academy of Dermatology and the American Hair Loss Association play crucial roles in raising awareness. Regulatory bodies like the US Food and Drug Administration ensure product safety. Brands offer diverse solutions, including hair loss transplant, laser therapy, and vitamins and supplements, meeting the needs of consumers seeking effective remedies.
The rising hair-related issues among consumers are notably driving the market growth, although factors such as the availability of counterfeit products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market experiences notable growth due to escalating hair-related concerns among consumers. This surge is particularly evident among Millennials, attributed to shifting lifestyles, hormonal imbalances, and heightened stress levels, notably among working women. This demographic tends to invest significantly in hair care products. The market sees a boost from the availability and affordability of various hair care products, including shampoos, conditioners, oils, and mousses, facilitated by the rise of online distribution channels. Additionally, organizations like the American Academy of Dermatology and the National Alopecia Areata Foundation contribute to market growth by raising awareness and offering solutions for hair regeneration. These factors are poised to propel the global hair care products market forward during the forecast period.
The use of social media marketing is one of the emerging market trends. Social media plays a key role in raising awareness of the availability of hair care products such as shampoos and conditioners, as well as vitamins and supplements. Consumer engagement with social networking and interest in blogging has led to sellers using social media for sales promotion. Facebook, Twitter, Instagram, and YouTube are some prominent social media platforms for product promotion.
The increased penetration of the internet along with the growth of the e-commerce segment has increased the demand and awareness of the wide range of hair products available in the market. For example, worldwide, the total number of active users of social networks reached 7 billion in 2022, which is about 62% of the world's population and continues to grow every day. The growing influence of social media is expected to increase product awareness, including products related to hair loss, which will drive market revenue during the forecast period.
The availability of counterfeit products is a major challenge impeding growth. The growth outlook of the hair loss products market and growing demand for hair care products are driving the fake hair loss products market. Counterfeit products are made from low-quality raw materials and can damage the hair. The increasing spread of e-commerce in different geographies encourages the sale of fake products. It is difficult for customers to distinguish between genuine and fake products because they look so similar. Due to the low price, fake products are in high demand.
The growing number of fake products is adversely affecting the sales and pricing strategies of genuine Companies operating in the global hair loss products market. To face such challenges, global players are forced to price their products at low prices, which reduces their profit margins and estimates the sales share in the global hair loss products market. Advertisements and promotions from genuine sellers help attract customers and ensure brand loyalty and prevent users from switching to fake products. However, such promotional activities incur huge expenses and further reduce the profit margins of sellers. Thus, the low price of such products is a major challenge for the Companies of branded hair care products, which in turn may hamper the growth of the global market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
L'Oreal SA - The company's key offerings include?hair loss treatments.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market is influenced by various factors, including lifestyle patterns, chronic disease cases, and increasing awareness about hair loss. With rising urbanization and sedentary lifestyles, hair loss cases are on the rise, particularly among Indian and Chinese populations. The market sees traction from effective formulations targeting underlying causes like androgenetic alopecia and alopecia areata. Innovations like hair loss transplants and laser therapy gain momentum as consumers prioritize personal grooming. Research and development activities and digital platforms further drive market growth, catering to the diverse needs of the consumer segment seeking solutions for hair-related concerns.
The market witnesses a surge in demand due to factors like rising disposable income and an increasing prevalence of chronic diseases. Consumers seek effective solutions for various hair-related conditions such as telogen effluvium, anagen effluvium, and cicatricial alopecia. The market also sees growth in regions like the Asia-Pacific Economic Cooperation (APEC) due to lifestyle changes and urbanization. Additionally, awareness campaigns by organizations like the American Academy of Dermatology and the National Alopecia Areata Foundation contribute to market expansion. Regulatory bodies like the US Food and Drug Administration ensure product safety, boosting consumer confidence in brands like Triple Hair Group Inc and Plenty Natural. Moreover, the American Hair Loss Association's advocacy efforts further propel market growth by addressing male pattern baldness and hypotrichosis concerns.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Hair Loss Treatment Products Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.6% |
Market growth 2023-2027 |
USD 2.21 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.5 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Church & Dwight Co. Inc., Cipla Ltd., Costco Wholesale Corp., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., Firma VicNic, Johnson & Johnson, Lexington International LLC, LOreal SA, Natura & Co Holding SA, Pierre Fabre SA, Shiseido Co. Ltd., Sun Pharmaceutical Industries Ltd., Taisho Pharmaceutical Holdings Co. Ltd., The Estee Lauder Co. Inc., The Himalaya Drug Co., The Procter and Gamble Co., Unilever PLC, Vita Cos Med Klett Loch GmbH, and Vitabiotics Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Gender
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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