Publication Month: May 2022 | Report Code: TIPRE00027910 | No. of Pages: 189 | Category: Consumer Goods | Status: Published
Hair loss is described as a disturbance of the hair growth cycle, or damage to the hair follicle, resulting in a rapid loss of hair relative to the rate of regeneration. A few of the visible symptoms of hair loss are a receding hairline, hair loss in patches, or overall thinning. Further, changing food habits; rising stress levels due to demanding schedules, has resulted in frequent hair loss at a younger age among the population. Increasing disposable income; and a growing emphasis on appearance are among the major factors driving the hair loss prevention products market growth.
Asia Pacific accounted for the largest portion of the global hair loss prevention products market share in 2020 and is expected to register the highest CAGR during the forecast period. The market in the region is further segmented into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. Strong customer base, rising hair fall concerns amongst the populace, and changing lifestyles are among the major factors driving the growth of the hair loss prevention products market in Asia Pacific.
|Market Size Value in||US$ 23,599.87 million in 2021|
|Market Size Value by||US$ 31,524.52 million by 2028|
|Growth rate||CAGR of 4.2% from 2021 to 2028.|
|Forecast Period||2021- 2028|
|No. of Pages||189|
|No. of Tables||110|
|No. of Charts & Figures||89|
|Historical data available||Yes|
|Segments covered||Product Type, Category, End User, and Distribution Channel|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The COVID-19 pandemic had a major impact on operational efficiencies and value chains due to the shutdown of national and international boundaries in 2020. Moreover, research activities were hampered due to the shutdown of laboratories and production plants. However, various industries began gaining momentum as the governments of various countries eased out the previously imposed restrictions with the subsiding of the effects of the global crisis. Resuming operations in manufacturing units and the opening of interstate and international boundaries have favored the hair loss prevention products market growth in the last few quarters. For instance, on April 13, 2022, Forest Essentials, an Ayurveda-based hair care manufacturer in Asia, announced the opening of 12 shops in the UK, which is its first international market. In this development, Estée Lauder would back this luxury Ayurveda skincare brand to expand its business rapidly in the UK by 2025. Thus, the companies started taking the initiative, and adopting growth strategies such as collaborations and expansions to overcome the adversities caused by the COVID-19 pandemic in 2020.
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The demand for hair loss prevention products is continuously growing in developing economies in Asia Pacific and South & Central America. This can be attributed to the growing disposable incomes of people. Disposable income is the income received by people after the deduction of taxes and social security charges, i.e., the actual amount left with them to spend or save. With the burgeoning concerns about hair loss, consumers in developing countries are highly inclined toward premium-quality hair loss prevention products, such as shampoos & conditioners, oils, and serums, which is encouraging manufacturers to establish production facilities in Asian countries, such as China and India. Low-cost products offered by these companies, specifically for people from cost-sensitive economies, are becoming extremely popular cost-efficient options for surgical hair replacement procedures.
According to Trading Economics, 2021, the developing country India has recorded $3,202,781, and in 2020, it recorded $2,725,046. According to the National Bureau of Statistics of China, in 2021, the per capita disposable income of residents in China reached $ 5,511.48, reporting a nominal increase of 9.1% over the previous year; the growth rate was 14.3% higher than that in 2019. The average growth rate in two years was 6.9%. The annual household income per capita of Argentina reached $ 3,765.524 in December 2020, compared with the previous value of $ 3,213.336 in December 2019. Hence, a surge in disposable income is adding to the purchasing power of consumers in developing countries, thereby providing lucrative opportunities for the growth of the hair loss prevention products market players.
Based on category, the hair loss prevention products market is segmented into natural & organic and conventional. The conventional segment is expected to account for a larger portion of the hair loss prevention products market share in the coming years. Conventional hair care products often consist of various synthetic substances, such as parabens, sulfates, alcohol, and mineral oil. They are potentially irritating and allergenic components developed in a lab. Further, synthetic chemicals are hazardous to human skin, animals, and plants. The production of traditional hair loss prevention products emits a large amount of pollution, leaving a negative carbon footprint on the earth, further hindering the market growth for this segment. However, most of the conventional hair loss prevention products are less costly than organic products, which is boosting the hair loss prevention products market growth for the conventional segments.
Based on product type, the hair loss prevention products market is segmented into shampoos and conditioner, oils, serums, and others. The shampoos and conditioner segment is expected to hold the largest market share during the forecast period. Anti-hair fall shampoos and conditioners replenish and nourish hair, relieve hair tension, relax muscles in the head, fight fungus that causes dandruff, and condition hair texture to prevent hair loss due to breakage. In addition, the market for the shampoos and conditioners segment is growing rapidly due to increasing demand from secondary markets such as India, Brazil, Turkey, and Argentina. Moreover, shampoos and conditioners are the most commonly purchased hair care products globally due to increased awareness, rising hair loss, and overall haircare trends. Thus, both products have gained significant traction among users, which is expected to boost the hair loss prevention products market growth during the forecast period.
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Based on distribution channel, the hair loss prevention products market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment accounted for the largest market share in 2020, whereas the market for the online retail segment is expected to grow at the fastest rate during the forecast period. The e-commerce boom has effectively increased the online retail sales of hair loss prevention products. Following the commencement of the COVID-19 pandemic, leading manufacturers are actively accessing popular e-commerce platforms with a mix of tempting prices, robust sales and support, and an upgraded shopping experience for consumers. This aspect is expected to help online platforms become one of the fastest-growing distribution channels globally. These factors are driving the growth of the hair loss prevention products market for the online retail channel segment.
Church & Dwight, Inc.; Forest Essentials; Kao Corporation; L'oréal S.A.; Pierre Fabre Group; Procter & Gamble; Shiseido Co., Ltd; Taisho Pharmaceutical Holdings Co., Ltd; Unilever; and Aveda Corp are among the key players operating in the hair loss prevention products market. These players are developing innovative products to meet the consumer demand. Moreover, they are performing mergers & acquisitions, business expansion, and partnerships strategies to expand their business globally.