Luxury Hair Care Market Size, Revenue, Comprehensive Research Study, Demand, Growth, Segmentation and Forecast to 2027 | Grand View Research, Inc.
Growth of the e-commerce retail market is one of the key factors fueling the demand for luxury hair care products, according to a new report released by Grand View Research.
The Global luxury hair care market the size should reach $ 31.50 billion by 2027, according to a new report from Grand View Research, Inc., expanding at a CAGR of 5.9% from 2020 to 2027. The increase in e-commerce sales and the growth of the male wellness sector are some of the major factors contributing to the growing demand for the product in the market. world.
Luxury hair care brands should focus more on product packaging design to attract a growing ‘generation of influencers’ to the country who continue to share their hair care moments with their friends and / or followers. on social networks. OUAI, a disruptive Los Angeles-based luxury hair care brand, has taken an in-depth look at consumer trends on social media to fuel a product strategy.
Asian consumers, especially Chinese, Japanese and Indian, see luxury cosmetics (including hair care products) as a form of social capital that sets them apart in society. High-end consumers in Asian markets increasingly prefer luxury hair care brands that resonate culturally. In the coming years, multinational luxury hair care companies are expected to introduce boutique brands to incorporate local aesthetics to increase product appeal to consumers.
Asia-Pacific emerged as the largest regional luxury hair care market in 2019. This region is expected to maintain its lead throughout the forecast period, given the growing popularity of premium products among a growing consumer base. expansion. In an effort to stem the rapid spread of the coronavirus, Asia-Pacific countries, including India, continue to push for social distancing rules, forcing individuals to stay indoors. Such measures, in turn, are expected to have a negative impact on the growth of the regional market, mainly during the remainder of 2020.
The market is characterized by intense competition, with international brands dominating the market. The market is expected to reflect the prevailing trends in the luxury skin care space during the forecast period. In this regard, luxury CBD hair care products are expected to gain traction, especially among millennials in the United States.
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Highlights of the Luxury Hair Care Market Report
â¢ In terms of product, the shampoo segment dominated the market and accounted for a 31.4% share of overall revenue in 2019
â¢ Asia-Pacific held the largest share of 39.3% in 2019
â¢ Acquisitions have emerged as the key strategy deployed by market players to stay ahead of the competition.
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Luxury hair care market segmentation
Grand View Research has segmented the global luxury hair care market on the basis of product, distribution channel and region:
Luxury Hair Care Product Outlook (Revenue, USD Million, 2016 – 2027)
â¢ Hair coloring products
â¢ Styling products
â¢ Hair oils
Luxury Hair Care Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
â¢ Supermarkets and hypermarkets
â¢ Department stores
â¢ Specialty stores
Regional Luxury Hair Care Outlook (Revenue, USD Million, 2014 – 2025)
â¢ North America
â¢ Asia Pacific
â¢ Central and South America
â¢ Middle East and Africa
â¢ United Arab Emirates
List of key players in the luxury hair care market
â¢ EstÃ©e Lauder companies
â¢ SEPT, LLC.
â¢ Alcora Company
â¢ Kao Company
â¢ KOSÃ Corporation
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Premium Hair Care Market Size, Share & Trend Analysis Report By Product (Shampoo, Dry Shampoo), By Distribution Channel (Specialty Stores, Online), By Demographics (Men, Women), By Region And Segment Forecast, 2021 -2028
About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California and headquartered in San Francisco. The company offers syndicated research reports, custom research reports, and advisory services. With Grand View Research, you have the ability to understand market trends, business information and statistics from a strategic perspective. With an in-depth understanding of many business environments, Grand View Research provides business intelligence and market research and conducts over 300 multi-country market studies.
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