DUBLIN--(BUSINESS WIRE)--The "Global Hair Relaxer Market - Segmented by Distribution Channel and Geography - Growth, Trends, and Forecast (2018 - 2023)." report has been added to ResearchAndMarkets.com's offering.
The Global Hair Relaxer market is expected to reach USD 967 million by 2023, witnessing a healthy CAGR during the forecast period.
Europe holds the dominant share in the global Hair Relaxer market which is followed by North America. About 115 million units of Hair Relaxer consumed in 2017, witnessing a declining sale during the forecast period. Increased demand for natural hair and the harmful effect of chemicals in relaxer have primarily affected the hair relaxer market growth.
Booming Natural Hair Trend
Relaxants which used to be very popular among Black consumers observed a decline in volume sales at a faster rate. The emerging trend of wearing the hair naturally among the black population has affected the hair relaxer sales. About 79% of the black consumers worn a natural hairstyle in 2017 while about 40% of the consumer looks to maintain healthy hair via natural ways. Young black consumers who are active in adopting new hairstyles prefer to wear relaxer-free hair naturally. Increased demand for achieving straight hair from new methods have rendered the relaxer market growth.
The natural hair trend fueled the demand for hair styling products such as moisturizers, lotions, curling creams, etc. which further results in declining the sales of relaxants and perms. Reduced spending of black women on relaxants due to consumer preference for more homegrown natural hair treatments is the primary factor affecting the market growth.
North America Declining at a Faster Pace to Reach Near Western Europe
Middle East & Africa accounts for the largest market driven by massive black population in Africa. The changing consumer preference for keeping hair naturally among black consumers have negatively affected the sales in Africa, recorded a declining growth rate of 5.2%. North America which has a significant black population got walloped by the growing natural hair trend, declining at a faster rate of 6%. The US which accounts for the largest black population in North America recorded a decline of 5.2% during 2012-2017 which is expected to continue during the forecast period.
Asia-Pacific hair Relaxer market size is witnessing a healthy CAGR of 3% during the forecast period. Volume sale of hair relaxer in Asia-Pacific recorded a steady growth driven by rising consumer demand for styling hair from curl to straightening. Rapidly changing lifestyle, owing to urbanization in the region demand products such as perms which relaxes hair for styling looks.
Market Dynamics
Drivers
- Growing Demand for Hair Styles
- Changing Lifestyle and Urbanization
Restraints
- Increased Trend for Wearing Hair Naturally Among Black Consumers
Key Topics Covered
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Scope of the Market
2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
3. Hair Relaxer Market Overview
3.1 Hair Relaxer Market Trends
3.2 Market Dynamics
4. Market Segmentation
4.1 Hair Relaxer Market By Distribution Channel
4.2 Hair Relaxer Market By Geography
5. Hair Relaxer Market Competitive Landscape
5.1 Market Share Analysis
5.2 Strategy Adopted by Key Players
5.3 Most Active Companies in the Past Five Years
6.Company Profiles
6.1 Overview
6.2 Products & Services
6.3 Financials
6.4 Key Developments
6.5 Strategies Adopted
6.6 SWOT Analysis of Major Players
7. Hair Relaxer Market Companies
7.1 Unilever PLC
7.2 Procter & Gamble Co.
7.3 L`Oreal S.A.
7.4 Jotoco Corporation
7.5 Makarizo International
7.6 Henkel AG & Co KGaA
For more information about this report visit https://www.researchandmarkets.com/research/wj9ppb/global_hair?w=4
