The new report by Expert Market Research titled, ‘Global Hair Growth Products Market Trends, Report and Forecast 2022-2027’, gives an in-depth analysis of the global hair growth products market, assessing the market based on its segments like product types, gender, age groups, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 7.82 Billion
- Forecast CAGR (2022-2027): 4.30%
The hair growth products market is driven by the increasing cases of hairfall owing to the changing lifestyle, stressful work environment, and polluting environment. The expanding influence of social media and the advertisements by celebrities on these hair growth products are also contributing to the steady growth of the market. In addition, the growing necessity to improve physical appearance and build self-esteem is also bolstering the hair growth products industry. Also, the ever-increasing distribution channels, mainly e-commerce, is boosting the hair growth products industry. Moreover, the rising purchasing power and the introduction of innovative products that meets customer expectations is also leading to the expansion of the market. The inclination of people towards herbal hair growth products is playing a vital role in the development of the industry.
Industry Definition and Major Segments
Hair is an integral part of the human body that is a health indicator and hair growth products are applied on hair to treat hair fall and improve the quality of hair. The different hair growth products include oils, shampoos, serums, and containers, among others.
The hair growth products industry, by product type can be segmented into
- Shampoos and Conditioners
- Supplements and Vitamins
Based on gender, the market is divided into
On the basis of age group, the market is classified into
- Under 35
- 35 to 50
- Above 50
The regional markets of hair growth products include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The increasing competition among the industry players to bring forth superior quality products with lucrative offers to escalate their market potential are leading to the incremental development of the hair growth products industry. For instance, Triple Hair Group, a Canadian biotechnology company, launched RiznTM, a brand offering hair growth for men. The hair density spray of RiznTM is made of natural ingredients to prevent hair loss and promote hair regrowth. In addition, Maypharm launched a new set of hair products, namely HAIRNA hair fill, HAIRNA shampoo, HAIRNA treatment, and HAIRNA toner, to help with hair loss prevention, and improve quality of hair. The research activities and the investments made by key industry players are also expected to propel the hair growth products industry in the forecast period.
Key Market Players
The major players in the market are Johnson & Johnson Consumer Inc., Vita Balance Inc., Philip Kingsley Products Ltd, Glenmark Pharmaceuticals, Farouk Systems, Inc., Nutraceutical Wellness Inc., and Mosaic Wellness PVT LTD., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.