DUBLIN--(BUSINESS WIRE)--The "United States Hair Care Market Growth, Trends and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
United States Hair Care market is expected to witness a CAGR of 3.2% during the forecast period (2019 - 2024).
- The United States haircare market has witnessed several changes over the past decade, with the emergence of various hair styling, hair regrowth, and hair colorant products. While the shampoo segment maintains dominance over the market studied, the hair colorant and conditioner segments have witnessed a rapid adoption over the forecast period.
- With a fashion-conscious youth population that is constantly informed about various hair care offerings, such as hair styling and colorant products that express individuality, consumer habits are driving the market studied.
- While the market players focus on offering a wide range of products to cater to various customer needs, they are challenged to maintain quality and to adhere to various government standards and regulations, in terms of product contents and side effects.
Scope of the Report
United States haircare market is segmented by product type into shampoo, hair colorant, conditioner, hair styling agent, hair oil, and others. The other segment includes perms and relaxants, By distribution channel, the scope includes supermarket/hypermarket, specialty stores, convenience stores, online retail stores, and others.
Key Market Trends
Rising Demand for Beauty and Personal Care Products
The trend of healthier living to improve the quality of life is increasing end-user preference toward various beauty and personal care products, including skin care, hair care, color cosmetics, oral care, and feminine hygiene. Factors such as extensive exposure to reliable information, an increase in awareness of products and services through digital media and other sources coupled with the advent of social media are educating the consumers regarding the benefits of these products, which, in turn, is driving the demand for these products. One of the key trends within hair care in the US is the natural hair growth movement, which encourages women to spend more on the hair treatment products such as shampoos, conditioner, hair oil, supplements, etc. Additionally, the aging population has also contributed to the growth of the US beauty and personal care products market.
Increasing Expenditure on Hair Care Products across the Country
The increased demand for hair care products, rise in aging population coupled with rising in hair fall problems are likely to contribute to the market growth in the forecast period. According to America Hair Loss Association, hair loss begins at age 35 with around 40% loss rate for men and women and more than 50% of the US population is 35 years old which indicates there is a large consumer base for hair loss treatment products in the country. Moreover, growing awareness of various hair care products through social media, magazines, and TV advertisements is encouraging consumers to purchase various hair loss treatment products. Additionally, according to the Bureau of Labor Statistics, the average annual expenditure on hair care products per consumer in the US witnessed a growth rate of 8.02% from 2012 to 2017.
The most active companies in the market include key players such as Procter & Gamble, Unilever Plc, L'Oreal SA, and The Estee Lauder Companies Inc. These players are embarking on mergers and acquisitions as one of their key strategies to achieve consolidation and optimize their offerings. Moreover, these players merge with local players to gain dominance in the local markets.
Procter & Gamble is one of the most active companies with numerous brands offering a broad range of hair care products across the globe. The company has spent considerably on improving quality, product innovation in terms of functionality, ingredients, size, and packaging.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.3 Hair Styling Agent
5.1.4 Hair Colorant
5.1.5 Hair Oil
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Procter & Gamble Co.
6.4.2 Unilever PLC
6.4.3 L'Oreal SA
6.4.4 Shiseido Group
6.4.5 The Estee Lauder Companies Inc.
6.4.6 Kao Corporation
6.4.7 Henkel AG & Co. KGaA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/gj4s5