NORTH AMERICA HAIR STYLING PRODUCT FORMULATIONS MARKET ANALYSIS

Market Challenges And Opportunities

North America Hair Styling Product Formulations Market- Drivers

• Increasing interest of millennial in hair styling products: Increasing interest of millennial in hair styling products is expected to drive the North America hair styling product formulations market growth. Millennial population across the North America region is highly conscious regarding their looks and appearance. Therefore, their perception towards various consumer goods is considered as a major influential factor that boosts demand for hair styling products. Millennial have specific preferences when it comes to use of hair styling products. To cater to their diverse requirements, hair styling products manufacturers are launching new products targeting the millennial segment. For instance, in Aug 2021, Garnier, a subsidiary of L'Oréal, introduced Whole Blends Shampoo Bars in the U.S. The launch is a part of the company's larger sustainability strategy, and the product is made with formulations that uses less water than their liquid equivalents and no plastic packaging. The solid shampoo bars are made with 94% plant-based ingredients, and are devoid of dyes, preservatives, silicones, and soap. Earlier, demand for hair styling products was limited to just the women customers. However, with time, men are observed to be more inclined towards use of hair gels, hair wax, clays, and others. This is also a result of the change in the fashion trends worldwide. The hair styling products market for men is also expected to experience huge demand over the forecast period. 

North America Hair Styling Product Formulations Market Restraints

• Shift in customer choice from hair styling products to hair care products: North America hair styling product formulations market can be hampered by shift in the customer choice from hair styling products to hair care products, in order to achieve natural and healthy hair. As a result of its side effects, consumers are turning to organic hair care products. Various chemical-based hair styling products are available in North America, and when these products are used excessively, these can cause hair loss or damage to the hair growth, and thus, restricting the market growth.
• Counterbalance: In the long term scenario, hair styling products are better in comparison to hair care products, since quality hair styling products are able to offer hair problem solutions than ordinary hair products. Investing in high quality hair styling products is a worthy investment from the customer point of view. Thus, with happy customers, demand of the hair styling product formulations market is expected to be driven positively. For instance, the company AER introduced a portable cordless smart hair dryer in January 2020. Also, it can be connected to a smartphone to provide customized solutions. However, including new features, such as 24K gold tools and models built using supersonic technology, is anticipated to drive market expansion.

North America Hair Styling Product Formulations Market Opportunities

• Increased demand for multi-purpose hair care products: Increased demand for multi-purpose hair care products is expected to drive the North America hair styling product formulations market growth during the projected period. Multi-purpose hair care products are popular because these may be used for multiple reasons at once such as a hair crème that can be used as a conditioner, a hair serum, or even as oil.