The increasing cases of hair-related diseases and issues is expected to bolster the global hair oil market growth during the forecast period, states Fortune Business Insights, in a report, titled “Hair Oil Market, 2023-2030.” The hair oil market size is expected to experience massive growth due to the rising number of salons and spas.
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The Report Lists the Key Companies in the Hair Oil Market:
- Merico Inc.
- Dabur India Ltd.
- Emami Ltd.
- Henkel AG & Co. KGaA
- The P&G Company
- Unilever Plc.
- Vogue International LLC.
- Vital’s Cosmetics International Inc.
- Now Foods
- Brock Beauty Inc.
The report on the hair oil market reveals:
- Prominent insights into the industry
- Essential data with in-depth research
- Factors exhibiting market growth
- Comprehensive study about main regions
- Prime developments in the industry
Driving Factor:
Surging Demand for Medicated Hair Oil to Foster Growth
The rising prevalence of hair-related disorders and diseases among people, such as alopecia areata, Telogen effluvium, and others, is projected to fuel demand for medicated hair oil products throughout the world. According to the United States National Library of Medicine, over 50 million men and 30 million women in the United States suffer from androgenetic alopecia hair disorder as of August 2020. Additionally, the industry is being supported by a rising number of spa clinics and hair salons throughout the world. Furthermore, the need for innovative types of hair care products is being fueled by shifting hair fashion trends. The market’s expansion is being driven by an increase in the consumption of on-demand films connected to hair care products and treatments. Aside from that, increasing customer preferences for herbal-based hair care products is fueling demand for natural-based hair oils.
Regional Insights:
Growing Popularity of Hair Care Products to Boost Market in Asia Pacific
Due to the large presence of the elderly population in countries such as China, Japan, and South Korea, which results in significant consequences of hair-related diseases in these countries, the Asia Pacific region is expected to hold a significant market share. This is expected to drive demand for hair care products in the region. According to the Japan Statistics Bureau data, the total number of people aged 65 and over in Japan reached 35.89 million in 2019. Furthermore, growing awareness of personal care and health hygiene among the populace in the area is propelling the market forward. Because of the significant infrastructural facilities linked to spa clinics in countries like Mexico and the United States, the North American area is projected to develop faster for the global hair oil market. This is expected to drive demand for medicated hair oil products in the region.
According to the American Med Spa Association, the total number of med spas in the United States reached 5,431 in 2018. Furthermore, the growing popularity of professional hair and skin care products and the existence of a higher-income population are propelling the market in the area forward.
Market Segments:
Product type, category, distribution channel, and region are all used to segment the worldwide hair oil market.
The market is divided into coconut oil, almond oil, argon oil, and others based on the product type. Due to the cost-effectiveness of this form of hair oil compared to other varieties, the coconut oil sector is projected to hold the largest hair oil market share. Besides, coconut oil primarily aids in repairing dry and damaged hair, therefore promoting segmental growth. The global market is divided into two categories: non-medicated and medicated. The biggest proportion of the medicated sector may be ascribed to a substantial consumer movement toward purchasing professional hair care products on the advice of medical professionals, resulting in a significant increase in revenue. The hair oil market is divided into hypermarkets and supermarkets, pharmacies, internet retailers, and others based on the distribution channel. Because of the extensive availability of both local and branded personal care goods at these stores, hypermarkets and supermarkets are projected to hold a significant part of the market.
Based on geography, the global hair oil market is classified into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
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Key Development:
July 2020: Marico Ltd., a global FMCG major, obtained 55% equity shares Beardo, an India-based company, to grow its business in the men’s grooming category, including various products such as beard & hair oils, beard balm, beard washes, face wash, serums, and others.
January 2020: Puig-Exea Corporation introduced various skin & hair care products such as serums, shampoo, hair masks, hair oils, conditioners, cleansers, toners, and others under its brand Apivita in the U.S. market.
The Global Hair Oil Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Hair Oil? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Hair Oil Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Hair Oil Market? What Was Capacity, Production Value, Cost and PROFIT of Hair Oil Market?
- What Is Current Market Status of Hair Oil Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Hair Oil Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Hair Oil Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Hair Oil Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Hair Oil Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Hair Oil Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Hair Oil Industry?
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