The Latest Hair Care Products Industry Statistics Explained
The global hair care market was valued at $95.45 billion in 2020.
The statistic that the global hair care market was valued at $95.45 billion in 2020 indicates the total revenue generated by the global sales of hair care products and services during that year. This figure reflects the significant size and economic importance of the hair care industry, encompassing a wide range of products such as shampoos, conditioners, styling products, hair colorants, and treatments, as well as services provided by salons and professional stylists. The increasing emphasis on personal grooming and self-care, along with changing consumer preferences for natural and sustainable products, are some of the factors contributing to the continuous growth of the global hair care market. Additionally, the statistic underscores the market potential and opportunities for businesses operating in the hair care industry to meet the diverse needs and demands of consumers worldwide.
It is projected to expand at a CAGR of 3.40% over the forecast period (2020-2027).
The statistic indicates that the subject being analyzed is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.40% over the specified forecast period, which in this case is from 2020 to 2027. CAGR is a measurement used to represent the year-over-year growth rate of an investment or business metric over a specific period of time. In this context, a CAGR of 3.40% suggests a steady and consistent growth rate for the subject being projected over the forecasted years. This statistic provides insights into the anticipated rate of expansion, helping stakeholders and decision-makers understand the expected trend and pace of growth in the given period.
Hair care product sales in the U.S. reached $13.2 billion in 2020.
The statistic that hair care product sales in the U.S. reached $13.2 billion in 2020 indicates the total revenue generated from the sales of various hair care products within the United States during that year. This figure reflects the substantial market size and consumer demand for hair care products in the U.S. The significant revenue suggests that individuals in the U.S. prioritize personal grooming and hair care, leading to a thriving industry with numerous brands and products catering to diverse preferences and needs. The growth and size of the hair care product market also reflect changing trends, consumer behaviors, and preferences in the beauty and personal care industry.
Over 49% of U.S. consumers use hair care products daily.
The statistic that over 49% of U.S. consumers use hair care products daily indicates that a substantial portion of the population in the United States regularly incorporate hair care products into their daily grooming routines. This suggests a strong consumer demand for such products and highlights the importance of personal care and grooming within American culture. The high percentage also implies a significant market size for the hair care industry, with a large potential customer base. It could also reflect the increasing emphasis on personal appearance and self-care within society, as individuals strive to maintain healthy and attractive-looking hair.
The hair color segment is expected to witness the fastest growth in the hair care market.
This statistic suggests that the hair color segment within the hair care market is projected to experience a significant increase in sales and consumer demand at a faster rate compared to other segments. This could indicate a growing popularity and interest in hair coloring products among consumers. Factors such as changing fashion trends, increased awareness about personal grooming, and the desire for self-expression through hair color are likely driving this growth in the market. Marketers and businesses operating in the hair care industry may want to pay attention to this trend and adjust their strategies to capitalize on the opportunities presented by the growing demand for hair color products.
Pantene is the best-selling hair care brand in the U.S. with sales of over $928 million in 2020.
The statistic “Pantene is the best-selling hair care brand in the U.S. with sales of over $928 million in 2020” indicates that Pantene has achieved a significant level of success in the U.S. hair care market. By surpassing other hair care brands in terms of sales, Pantene has established itself as a preferred choice among consumers, reflecting its strong brand recognition, quality products, and effective marketing strategies. The sales figure of over $928 million in 2020 highlights the substantial revenue generated by Pantene, reinforcing its position as a leading player in the competitive hair care industry. This statistic underlines Pantene’s market dominance and consumer appeal, showcasing its ability to meet the needs and demands of a large customer base.
The online platform segment is expected to witness significant growth in the hair care market over the forecast period.
This statistic suggests that the online platform segment within the hair care market is projected to experience a notable increase in sales and market share in the foreseeable future. This growth could be driven by factors such as the increasing digitalization of retail, consumers’ growing comfort with making beauty and personal care purchases online, and the convenience and accessibility offered by e-commerce platforms. The rise of online shopping platforms for hair care products is expected to present a lucrative opportunity for businesses operating in this segment, potentially leading to increased competition and innovation in online marketing strategies and product offerings.
Shampoos hold approximately 34% share of the global hair care market.
The statistic that shampoos hold approximately 34% share of the global hair care market indicates that out of all hair care products purchased worldwide, shampoos account for about one-third of the market. This suggests that shampoos are a significant and popular product within the hair care industry, with a sizable portion of consumer expenditures allocated towards this specific product category. The high market share held by shampoos implies that they are a staple product for many consumers when it comes to hair care routines and maintenance. Additionally, this statistic highlights the competitive landscape within the hair care market, as shampoos compete with various other products such as conditioners, styling products, and treatments for consumer attention and spending.
North America accounted for the largest market share of approximately 25% in the hair care market in 2020.
The statistic states that in 2020, North America had the largest market share, representing approximately 25% of the total market share in the hair care industry. This indicates that North America was the leading region in terms of hair care product sales and consumer demand during that year. The significant market share suggests that a substantial portion of hair care products were purchased and used in North America compared to other regions globally. Companies operating in the hair care industry may have focused their marketing and distribution efforts in North America due to the region’s strong market presence and potential for growth.
Organic hair care products are projected to exhibit a CAGR of more than 8.4% from 2022 to 2027.
This statistic indicates that sales of organic hair care products are expected to grow at a Compound Annual Growth Rate (CAGR) of over 8.4% from 2022 to 2027. This projected growth rate suggests a strong upward trend in consumer demand for organic hair care products over the next five years. Factors driving this growth could include increasing consumer awareness of the benefits of using natural and organic products, rising concerns about the potential harmful effects of synthetic ingredients, and a growing preference for sustainable and eco-friendly options in the beauty industry. This statistic paints a positive outlook for the organic hair care market, showing potential opportunities for businesses operating in this sector to capitalize on the growing trend towards natural and organic hair care products.
China is projected to become the second largest hair care market globally by 2024.
This statistic indicates that based on current trends and projections, China is expected to rise to the position of the second largest market for hair care products in the world by 2024. This demonstrates a significant growth in consumer demand for hair care products within the Chinese market, likely driven by factors such as increasing disposable income, changing beauty standards, and a growing awareness of personal grooming and self-care. The shift in ranking to second place signifies that China’s hair care market is expanding rapidly, presenting lucrative opportunities for businesses in the hair care industry to target and cater to the needs and preferences of Chinese consumers.
The professional hair care products market is estimated to reach $26 billion by 2026.
This statistic states that the professional hair care products market is projected to grow and reach a valuation of $26 billion by the year 2026. This indicates a significant increase in the demand and consumption of specialized hair care products used by professionals in salons and the beauty industry. The estimated market value represents the expected revenue potential for companies operating in this sector and suggests a positive outlook for growth and expansion opportunities within the professional hair care industry over the specified timeframe.
In 2020, the hair care market in Latin America reached a value of $13.5 billion.
The statistic states that in the year 2020, the hair care market in Latin America generated a total revenue of $13.5 billion. This figure provides insight into the size and economic significance of the hair care industry within the Latin American region for that particular year. It indicates the total amount spent by consumers on various hair care products such as shampoos, conditioners, styling products, and treatments. This statistic is crucial for businesses operating in the hair care market as it gives them an understanding of the market’s value and potential for growth, allowing them to make informed decisions on product development, marketing strategies, and expansion opportunities in the region.
Indian hair care market is projected to grow at a CAGR of around 14% during 2021-2026.
The statistic indicates that the Indian hair care market is expected to experience significant growth over the period of 2021-2026, with a compound annual growth rate (CAGR) of around 14%. This suggests that the market is on a trajectory of steady expansion, with an annual growth rate of 14% that is projected to be sustained over the next five years. The high CAGR implies that there is a strong demand for hair care products in India, likely driven by factors such as increasing disposable income, changing consumer preferences, and a growing awareness of beauty and personal care among the population. This projection serves as an indicator of the market’s potential for both domestic and international hair care brands looking to invest in the Indian market.
In 2020, conditioner sales in the United States amounted to about $2.3 billion.
The statistic that in 2020, conditioner sales in the United States amounted to about $2.3 billion provides valuable insight into the consumer behavior and market size within the hair care industry. This figure reflects the significant demand for hair conditioner products in the United States, indicating a strong market for hair care products. The sales value of $2.3 billion demonstrates the economic importance of the hair care industry, as well as the preferences and priorities of consumers when it comes to personal grooming and self-care. Analyzing this statistic can help businesses in the hair care sector understand market trends, make informed decisions, and develop strategies to capitalize on the growing demand for conditioner products.
Anti-dandruff shampoos accounted for a market share of around 15.2% in 2019.
The statistic indicates that anti-dandruff shampoos held a significant market share of approximately 15.2% in the year 2019. This suggests that there is a notable demand for products designed to address dandruff-related concerns among consumers. The market share figure reflects the portion of total sales within the shampoo industry that can be attributed to anti-dandruff shampoos specifically. The data point highlights the popularity and consumption of this particular type of hair care product, indicating a potential market opportunity for companies operating in this segment of the industry.
Unilever and Proctor & Gamble account for over 50% of global hair care market share.
This statistic indicates that Unilever and Procter & Gamble, two major multinational consumer goods companies, collectively dominate the global hair care market by holding more than 50% of the total market share. This level of market concentration suggests that these two companies have a significant impact on shaping industry trends, setting prices, and influencing consumer preferences within the hair care sector. The statistic underscores the formidable market position of Unilever and Procter & Gamble, highlighting their competitive advantage and market power in the highly competitive and lucrative hair care industry.
The estimated male grooming market in India, including hair care, is set to grow at a CAGR of about 12% by 2024.
The statistic indicates that the male grooming market in India, specifically including hair care products, is expected to experience a Compound Annual Growth Rate (CAGR) of approximately 12% by the year 2024. This projection suggests a significant increase in demand for male grooming products within the Indian market over the specified period. Factors contributing to this growth could include shifting cultural norms, increased disposable income, and an expanding focus on personal care and grooming among Indian men. This statistic serves as a valuable insight for businesses operating in the male grooming sector, highlighting the potential opportunities for expansion and investment in this lucrative market segment.
The global hair salon market is expected to grow at a CAGR of 1.3% from 2021 to 2028.
This statistic indicates that the global hair salon market is projected to increase in value at a Compound Annual Growth Rate (CAGR) of 1.3% from 2021 to 2028. This growth rate suggests a relatively moderate and steady expansion in the hair salon industry over the specified period. Factors such as changing fashion trends, increasing personal grooming consciousness, and evolving consumer preferences could contribute to this anticipated growth. Businesses operating within the hair salon market may potentially benefit from such growth by adapting their strategies and services to align with the evolving demands of customers while also exploring opportunities for expansion and innovation within the industry.
Hair restoration services market is projected to reach $12.12 billion by 2026, growing at a CAGR of 4.6% from 2019 to 2026.
The statistic indicates that the hair restoration services market is expected to grow significantly in the coming years, reaching a value of $12.12 billion by the year 2026. This growth is projected to occur at a compound annual growth rate (CAGR) of 4.6% from 2019 to 2026, demonstrating a steady and consistent increase in the market value over this period. This indicates a positive trend in the demand for hair restoration services, potentially driven by factors such as increasing awareness, technological advancements, and changing consumer preferences towards aesthetics and grooming.
References
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