An increase in hair and scalp problems, an increase in the popularity of medicinal herbs hair care products, comprehensive marketing strategies for hair care products, a rise in disposable income, technological advancements in product manufacturing, and a rise in spending on haircare products are some of the key factors driving the growth of the global market for hair care products. Moreover, appealing packaging, increased consumer awareness of hair care, and a trend towards hair care and style products are driving the market for hair care.
The Hair Care Industry will bring in $2.96 billion in revenue in 2023. The market is projected to expand by 3.56% per year (CAGR 2023-2027).
Market Leaders in the Hair Care products Industry:
1) Unilever PLC: TRESemme haircare is a brand owned by Unilever PLC. The company was founded in 19th century. Headquarters are located in London. Following up on its announcement from May 30 2023, Unilever revealed on July 7 2023 that it has successfully acquired the majority of Nutrafol, a well-known manufacturer of hair wellness products.
2) Procter Gamble Co: Established in 1837. Headquarter locations are in Cincinnati, Ohio. Head and Shoulders, Pantene, and Herbal Essences are some of the hair care brands owned by Procter & Gamble Co. Recent acquisitions by Frim include OUAI Haircare in December 2021, TULA in January 2022, and Mielle Organics in January 2023.
3) L’oréal s.a: L'Oreal, the world's largest cosmetics firm, was established in 1909. The company's top-selling brands include Yves Saint Laurent, Lancome, CeraVe, Garnier, Kiehl's, L'Oreal Paris, and Maybelline. Headquarters in France's Clichy. On December 8th, 2021, L'Oréal signs a contract to buy California-based American skincare brand Youth to the People.
4) Avon Products: Headquarters are in London, where the company was founded in 1886. Avon Products Inc. is a multi - level marketing company that creates and markets cosmetics and associated goods. The acquisition of Avon Products by Natura &Co (NTCO3 - B3) is scheduled to close on January 3, 2020, the company reports.
5) Revlon Inc.: The company Revlon Inc. primarily operates in the cosmetics sector. The reportable business segments for the corporation are Revlon, Elizabeth Arden, Fragrances, and Portfolio. Established in 1932, New York is where the company's headquarters are in New York.
6) Aveda Corporation: Established in 1978. located in Minneapolis, Minnesota. a supplier of cosmetics with its headquarters in Minneapolis, Minnesota. The business produces body care, skin and cosmetics, fragrance, hair care, and cosmetics as well as teaching massage, aesthetics, and cosmetology to students. Nykaa, a multi-brand beauty company, has partnered with Aveda, a haircare company, to open a chain of upscale salons in India, with the first site opening in Bengaluru in 2022.
7) Amka Products Pt Ltd: Amka is a locally owned South African business that has been in the beauty and health industry for more than 60 years. The corporate offices are in Centurion, Gauteng, 0157, South Africa, at 14 Ellman St. Established in 1979.
8) Johnson & Johnson Pvt. Ltd.: Johnson & Johnson is the largest and most diverse healthcare company in the world. The company is divided into three divisions: pharmaceutical, medical devices and diagnostics, and consumer. It was founded in 1886. The company's headquarters are in Mumbai.
Definition: Hair care refers to everything people do to keep their hair tidy, better and healthier, and attractive.
