DUBLIN–(BUSINESS WIRE)–Feb 17, 2022–
The United States hair care market is projected to register a CAGR of 3.2% during the forecast period 2022-2027.
According to the International Journal of Dermatology and the United States National Library of Medicine, in the United States, 33% of COVID-19 survivors experienced Telogen effluvium hair loss.
A COVID-19 survivor experiences this type of acute hair loss due to the body’s weakness from the illness. Also, the pandemic also gave rise to incidents of stress-induced hair loss due to the uncertainty and stress of the times which could pay the way for anti-hair loss or hair thickening claimed product in the forecast period. Thus in 2021 Virtue Labs launched Flourish female-focused hair loss lines.
The United States haircare market has witnessed several changes over the past decade, with the emergence of various hairstyling, hair regrowth, and hair colorant products. The shampoo segment is expected to maintain its dominance over the market, while the hair colorant and conditioner segments may witness rapid adoption rates over the forecast period.
The fashion-conscious youth population is constantly aware of various hair care offerings, such as hair styling and colorant products that express individuality. Thus, such consumer habits are driving the market.
Escalating Expenditure On Hair Care Products
The market is experiencing an escalating pull by the availability and affordability of hair care products, such as shampoo, conditioner, oil, spray, etc., leading to the enhanced spending pattern on the hair care market.
Furthermore, the market has witnessed an increasing number of millennials experiencing hair problems like hair fall, and dandruff owing to changing lifestyle patterns, along with an increase in stress levels among the working-class women population, which is expected to boost the demand for these products in the forecast period.
A further shift in consumer preferences and discretionary spending on hair care products by consumers are encouraging manufacturers to bring product innovations, in terms of packaging, to boost the market demand.
Products, such as treatment oils for hair loss protection, imparting shine, and decreasing frizz, are available in dropper packaging for dosing and precise application. Companies have also started offering travel-size packaging, such as sachets, deluxe samples, and mini bottles, for convenience and portability acting as a driving factor in the market studied.
Shampoo Holds The Largest Share
There is a growing demand for shampoos due to the rise of prevalence of disorders related to hair such as dandruff, hair fall, oily hair, and itchiness is boosting the sales of the Shampoo market during the forecast period. Dry shampoo is gaining prominence in the United States over the last five years.
The benefit of daily shampooing is questioned as many argued that too frequent washing can strip the hair from its natural oils, creating an opportunity for dry shampoos. Further, convenience is a compelling attribute for consumers which plays a definite part in hair care product purchases.
Companies started incorporating convenient attributes to their dry shampoo products keeping in line with consumer preference. Herbal shampoo is growing is going at a greater pace than cosmetic shampoo, dry shampoo and anti-dandruff shampoo. Natural ingredients and botanical for use in hair care products are performing well in United States and it is pressing the herbal shampoo market forward.
Product Innovations, the emerging men’s grooming sector and increasing demand for organic shampoos is driving the growth of the Shampoo market during the forecast period.
The United States hair care market is highly competitive. The most active companies in the market include key players, such as:
- Procter & Gamble Co.
- Unilever PLC
- L’Oreal SA
- Shiseido Group
- The Estee Lauder Companies Inc.
- Kao Corporation
- Henkel AG & Co. KGaA
- Amway Corp.
- Beiersdorf AG
- Oriflame Cosmetics Ag
These players consider mergers and acquisitions as one of their key strategies to achieve consolidation and optimize their offerings.
Moreover, these players are merging with local players to gain dominance in the local markets. Procter & Gamble is one of the most active companies in the market, with numerous brands offering a broad range of hair care products. The company has spent considerably on improving the quality of products and on product innovation, in terms of functionality, ingredients, size, and packaging.
Laura Wood, Senior Press Manager
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KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL HOME GOODS HEALTH OTHER HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 02/17/2022 01:19 PM/DISC: 02/17/2022 01:19 PM
Copyright Business Wire 2022.