What Has Been The Historical And Current Growth Of The Luxury Hair Care Products Market?
The luxury hair care products market has seen considerable growth due to a variety of factors.
• Over the past few years, there has been a significant increase in the size of the market for luxury hair care products. By 2024, it is projected to reach $23.87 billion, further swelling to about $25.72 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%.
Factors contributing to this historical growth trend include rising consumer consciousness, income levels, the influence of celebrity endorsements, and the reach of the distribution channels.
What Is The Forecast For The Luxury Hair Care Products Market By 2029?
The luxury hair care products market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for luxury hair care products is projected to witness substantial growth, with an estimated value of $35.25 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.2%.
The predicted growth during the forecast period can be ascribed to the increasing awareness of beauty, expansion of the global market, and rising eco-friendly trends. The forecast period also expects significant trends such as customization and personalization, innovative development, technological integration, health-centric products, and clean beauty.
Which Key Drivers Are Propelling The Luxury Hair Care Products Market's Growth?
The expansion of the luxury hair care market is projected to be driven by the rising prevalence of e-commerce platforms. The term e-commerce retail market denotes the process of purchasing goods online, coupled with the exchange of money and data required to complete such operations. By facilitating convenient transactions, allowing products and services to be sold directly to customers, and ensuring home delivery of products, e-commerce aids the luxury hair care market's growth. For instance, as per the Census Bureau, a government agency based in the US, the retail e-commerce sales, after seasonal adjustments, amounted to $285.2 billion in the last quarter of 2023. This represented an increase of 0.8% compared to the previous quarter. Meanwhile, the overall retail sales for the same period were around $1.83 trillion, showing a 0.4% growth compared to the third quarter. Against the final quarter in 2022, there was a 7.5% growth in e-commerce sales, while overall retail sales witnessed a growth of 2.8%. Hence, the rising influence of e-commerce platforms is expected to drive the demand for luxury hair care throughout the projected period.
What Are The Key Segments Within The Global Luxury Hair Care Products Market?
The luxury hair care products market covered in this report is segmented –
1) By Product Type: Shampoos, Conditioners, Hair Coloring Products, Hair Styling Products, Hair Oil, Other Product Types
2) By Distribution Channel: Super markets and Hyper markets, Departmental Stores, Specialty Stores, E-commerce, Other Distribution Channels
Subsegments:
1) By Shampoos: Sulfate-Free Shampoos, Moisturizing Shampoos, Clarifying Shampoos, Color-Protecting Shampoos
2) By Conditioners: Leave-In Conditioners, Rinse-Out Conditioners, Deep Conditioners, Hair Masks
3) By Hair Coloring Products: Permanent Hair Color, Semi-Permanent Hair Color, Hair Highlights, Hair Bleach
4) By Hair Styling Products: Hair Gels, Hair Sprays, Mousse, Pomades And Waxes
5) By Hair Oil: Argan Oil, Coconut Oil, Jojoba Oil, Essential Oil Blends
6) By Other Product Types: Serums, Scalp Treatments, Hair Tools And Accessories, Hair Supplements
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How Are New Trends Impacting The Size Of The Luxury Hair Care Products Market?
Product innovation is a growing trend in the luxury hair care sector that's gaining significant traction. Numerous businesses specialized in luxury hair care are investing in pioneering new products to solidify their standing in this market. For example, Medimix, a company based in India that produces cosmetic items including skin and hair care products, unveiled an organic total care shampoo in their hair care selection in May 2022. The total care shampoo from Medimix is comprised of wheat protein and nine other natural herbs such as tea tree oil, rosemary oil, neem, wild ginger, and so on, combined in a special formula. This formula is designed to reduce hair loss, combat dandruff, and condition hair.
Who Are the Key Players in the Luxury Hair Care Products Market?
Major companies operating in the luxury hair care products market include:
• L'Oreal S. A.
• The Estee Lauder Companies Inc.
• Seven LLC
• Kao Corporation
• KOSÉ Corporation
• Shiseido Company Limited
• Unilever plc
• Jose Eber Hair
• Oribe Hair Care LLC
• Rahua (Amazon Beauty Inc. )
• Aesop
• The Procter & Gamble Company
• CFEB Sisley
• Olaplex Inc.
• Philip B. Botanicals
• Aveda corporation
• Bumble and bumble Products LLC
• Christophe Robin
• Leonor Greyl
• Sachajuan Haircare
• Amika
• Ouai Haircare
• John Paul Mitchell Systems
• Revlon Consumer Products Corporation
• Schwarzkopf Professional
• Wella AG
What are the Regional Insights into the Luxury Hair Care Products Market?
Asia-Pacific was the largest region in the luxury hair care market in 2024. The regions covered in the luxury hair care products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
