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The hair styling products market is estimated to grow at a CAGR of 5.6% between 2022 and 2027. The size of the market is forecast to increase by USD 5,331.45 million. The growth of the market depends on several factors, including innovation and portfolio extension leading to product premiumization, evolving fashion trends in hair styling, and a rise in the number of fashion-conscious consumers.
This report extensively covers market segmentation by type (HCGP, hair styling spray, and dry shampoo), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The innovation and portfolio extension leading to product premiumization are notably driving the market growth, although factors such as a growing preference for do-it-yourself (DIY) hair styling tools at home 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.
Key Hair Styling Products Market Driver
The innovation and portfolio extension leading to product premiumization are notably driving the market growth. With the growing competition and customer demand for innovative products, vendors have actively started focusing on bettering their R&D operations. Additionally, they have also been focusing on differentiating themselves from pharmaceutical companies. To that end, their investment in innovating ingredients and technologies is rising.
Customers usually look for hair styling products that can address concerns about multiple hair-related issues in minimal time. To meet these customer needs, vendors regularly innovate their product ranges and expand their product lines. In addition, the growing purchasing power and increasing disposable income have helped increase customer spending on hair care products, especially premium ones. Therefore, higher product premiumization and product line extension, coupled with the growing customer expenditure on beauty products (including hair styling products), will further strengthen value sales in the market and positively impact the market growth during the forecast period.
Key Hair Styling Products Market Trend
Growing demand for natural and organic hair styling products is the key trend in the market. Awareness of hair and skin-related problems caused by synthetic hair styling products has pushed the demand for natural and organic hair styling products. Regular use of synthetic hair styling products can cause hair and skin-related issues such as skin irritation, skin allergies, nerve damage, chemical burns and blisters on the scalp, hair breakage, and some forms of cancer.
Organic hair styling products are made of natural and organic ingredients such as plant extracts, natural oils, and other natural ingredients. Other natural ingredients used in organic hair styling products include aloe vera, sea salt, charcoal, coconut oil, argan oil, and moringa oil. Manufacturers of hair styling products are emphasizing more on organic skincare products. Thus, product line extension also helps in differentiating offerings. Organic hair styling products are free from harmful ingredients such as petrochemicals, sulfates, and ammonia. These organic hair styling products adhere to high standards of purity set by various governing bodies of different countries. Therefore, the growing popularity of natural and organic hair styling products is expected to increase the demand, thereby propelling the growth of the market during the forecast period.
Key Hair Styling Products Market Challenge
Growing preference for do-it-yourself (DIY) hair styling tools at home is the major challenge impeding the market growth. The demand for DIY hair styling solutions is increasing across the globe. People share their experiences with DIY home hair styling solutions through blogs and social media platforms. DIY home hair styling solutions make use of available resources at home, such as socks, stationery products, and towels, which protect individuals from the heat generated by hair styling products. There is an increasing number of accidents due to electrical shock, which is also making consumers prefer DIY hair styling.
Consumers prefer DIY hair styling products that do not damage the hair. Also, DIY hairstyling is comparatively cheaper than the services provided in salons, hence, people prefer to opt for this. It involves using homely products, hence considered safer as well. Moreover, due to their busy schedule, people lack time to visit salons, hence, DIY at home helps save a lot of time. This implies less frequent visits to salons and spas, which can negatively impact the growth of the global hair styling product market during the forecast period.
Key Hair Styling Products Market Customer Landscape
The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Hair Styling Products Market Customer Landscape
Vendors 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.
Unilever PLC - The company offers hair styling products under its brand Nexxus Curl as its key offerings in the beauty and hair care segment. Under the personal hygiene segment, the company offers hair care, skin cleansing, deodorants, skincare, and oral care products along with other beauty and personal care products. Under the CPG segment, the company includes food, ice cream, and beverages categories, as well as Unilever Food Solutions.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Based on type, the market is segmented into HCGP, hair styling spray, and dry shampoo. The market share growth by the HCGP segment will be significant during the forecast period. HCGP segment comprises hair cream, gel, hair pomade, paste, and protectants. The market for hair cream, hair gel, hair pomade and paste, and heat protectants is expected to grow during the forecast period. This is majorly laid by the growing awareness of the product and increasing demand amongst the male population for hair styling and grooming products. Moreover, consumers worldwide are increasingly becoming aware of the several benefits of some of these hair styling products.
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The HCGP segment shows a gradual increase in the market share of USD 7,275.96 million in 2017 and continue to grow by 2021. Consumers seek low-priced hair stylings products such as pomades and pastes. Men are the largest customer segment for hair gel, cream, pomades, and pastes, but for hair protectants, women are the major users. This is because most women have long hair and need something to protect them from sun damage. These also help to dry hair faster. Therefore, the overall segment for other hair styling products is expected to grow at a steady rate during the forecast period.
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APAC is projected to account for 35% of the global market share growth by 2027. Another region offering significant growth opportunities to vendors in Europe. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The hair styling products market in Europe is expected to grow at a notable rate during the forecast period. Europe, especially western Europe, is considered a hub for fashion and the latest trends. The most popular luxury fashion and beauty products brands are in European countries. Even though the market for beauty products is saturating, factors such as increased product innovations and endorsements support the demand for beauty and personal care products, including hair styling products.
In European countries, such as Italy and Germany, sectors dealing with non-essential goods were not authorized to operate their production facilities completely at the beginning of Q1 2020, owing to the COVID-19 outbreak. However, with the initiation of vaccination drives in Q4 2020 and the lifting of restrictions on the supply chain of raw materials, the demand for hair styling equipment witnessed growth in 2021, owing to the increased demand from salons. Vendors were actively promoting online sales, especially through brand-owned e-commerce portals in their home countries, and giving discounts on hair styling equipment. This is expected to drive the growth of the hairstyle product market in the region during the forecast period.
The 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. The market has been segmented by type (HCGP, hair styling spray, and dry shampoo), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
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Hair Styling Products Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
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Market growth 2023-2027 |
USD 5,331.45 million |
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Market structure |
Fragmented |
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YoY growth (%) |
4.85 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 35% |
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Key countries |
US, China, Japan, Germany, and Brazil |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amorepacific Group Inc., Amway Corp., Flora and Curl Ltd., Godrej Consumer Products Ltd., Henkel AG and Co. KGaA, Hoyu Co. Ltd., Kao Corp., LOreal SA, Mandom Corp., NATULIQUE Ltd., Olaplex Holdings Inc., Oriflame Holding AG, Pai Shau Inc., Revlon Inc., Shiseido Co. Ltd., The Avon Co., The Estee Lauder Co. Inc., The Procter and Gamble Co., Unilever PLC, and Wella Operations US LLC |
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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, and market condition analysis for the forecast period. |
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Customization purview |
If our 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 Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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