Professional Haircare Products Market by Product, Distribution Channel, Type, and Geography - Forecast and Analysis 2020-2024

The professional haircare products market share is expected to increase by USD 4.63 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 4%.

This professional haircare products market research report extensively covers professional haircare products market segmentation by product (hair colorants, shampoos and conditioners, and hair styling products), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America). The professional haircare products market report also offers information on several market vendors, including Coty Inc., Henkel AG & Co. KGaA, Kao Corp., KOSÉ Corp., L'Oréal SA, Natura & Co., Shiseido Co. Ltd., The Estée Lauder Companies Inc., The Procter & Gamble Co., and and Unilever Group. among others.

What will the Professional Haircare Products Market Size be During the Forecast Period?

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Professional Haircare Products Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The introducing customized products is notably driving the professional haircare products market growth, although factors such as the growing penetration of DIY professional haircare solutions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the professional haircare products industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Professional Haircare Products Market Driver

One of the key factors driving growth in the professional haircare products market is the introduction of customized products. The key manufacturers in the global professional haircare products market have begun investing in customized products and haircare treatments that suit the specific requirements of customers. However, common issues like dandruff, damaged hair due to sun exposure, and damaged scalp are reasons that sustain the demand for haircare products across the globe. The introduction of customized products is expected to drive the growth of the global professional haircare products market during the forecast period.

Key Professional Haircare Products Market Trend

The evolving consumer expectations is a professional haircare products market trend that is expected to have a positive impact in the coming years. Manufacturers, retailers, and other players in the global professional haircare products market are focused on helping the market expand by delivering products and services that suit the evolving requirements of consumers across the globe. Consumers, of late, are demanding value-added products at reasonable prices. Natural, chemical-free hair colorants, of late, dominate the professional haircare products market. Haircare clinics are increasingly preferred by consumers across the globe. Haircare specialists detect the specific hair type and need of a consumer before suggesting a product. Haircare consumers are willing to pay for premium products if they offer them superior quality. A large number of consumers visit salons for haircuts, hair styling, and hair coloring.

Key Professional Haircare Products Market Challenge

The growing penetration of DIY professional haircare solutions will be a major challenge for the professional haircare products market during the forecast period. People share their experience with DIY at home professional haircare solutions, in terms of natural benefits, through blogs and social media platforms. DIY at home professional haircare solutions consist of natural ingredients such as herbs and hydrolyzed plant proteins. Every natural ingredient used in these haircare solutions attributes a health benefit, and the publishers of recipes educate viewers on the benefits of using these ingredients. Consumers, of late, prefer do-it-yourself (DIY), professional haircare products that help them sort their haircare problems at home. Such products have widely appealed to the convenience-seeking consumer segment. They save the time and money invested in professional haircare products. This implies less frequent visits to salons and spas, which can negatively impact the growth of the global professional haircare products market.

This professional haircare products market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global professional haircare products market as a part of the global personal products market.Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the professional haircare products market during the forecast period.

Who are the Major Professional Haircare Products Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Coty Inc.
• Henkel AG & Co. KGaA
• Kao Corp.
• KOSÉ Corp.
• L'Oréal SA
• Natura & Co.
• Shiseido Co. Ltd.
• The Estée Lauder Companies Inc.
• The Procter & Gamble Co.
• and Unilever Group.

This statistical study of the professional haircare products market encompasses successful business strategies deployed by the key vendors. The professional haircare products market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Coty Inc. - Key products offered by the company include WELLAPLEX BOND BUILDERS SYSTEM and KOLESTON PERFECT.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The professional haircare products market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Professional Haircare Products Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the professional haircare products market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the personal products market includes the following core components:

• Raw material suppliers
• Manufacturers
• Distributors
• Wholesalers/retailers
• End-consumers

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Professional Haircare Products Market?

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30% of the market’s growth will originate from APAC during the forecast period. Market growth in this region will be faster than the growth of the market in the European, North American, and MEA regions.

Europe is another region shoing major market growth. Some of the factors contributing to the growth of the professional haircare products market in the region are the rising demand for premium products in markets such as the UK, Germany, France, and Italy, the changing lifestyles of consumers and the increasing demand for multiple hair shades or colors among men and women. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Professional Haircare Products Market?

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The professional haircare products market share growth by the hair colorants segment will be significant during the forecast period. As consumers are wary of the risks associated with applying hair colors by themselves, a large number of them prefer visiting salons or spas to get their tresses colored. Chemical hair colorants can lead to itchy skin, allergies, rashes, and other side effects. A number of vendors in the hair colorants segment are investing in chemical-free, organic hair colorants that are safe to use. The demand for ammonia-free hair colorants is on the rise. L'Oréal, Clairol, and Garnier are some of the brands that have launched ammonia-free hair colorants.

This report provides an accurate prediction of the contribution of all the segments to the growth of the professional haircare products market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Professional Haircare Products Market Report?

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

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