Organic Hair Care Product Demand Is Anticipated To Show Robust Growth In The Hair And Scalp Care Product Market During The Forecast Period (2019-2026)
The global hair and scalp care product market is anticipated to grow with a CAGR of around 4% during the forecast period (2019 – 2026). High demand for natural ingredients has been relatively evident in the market, that has promoted to the majority of companies launching product with nature-inspired ingredients, for instance; premium botanical ingredients and plant-inspired. Further, several hair care brands are progressively using organic and natural ingredients motivated by consumer demand for these product rather than the product comprising formaldehyde, fragrances, hydrofluorocarbons, and micro-particles of other ingredients. Manufacturers are launching organic detanglers, protective and styling serums to provide to the rising number of consumers that are cautious of synthetic components. For instance; in 2017, Loreal Paris has launched a novel hair care range, botanical fresh care, a novel natural focused product by which the company is expected to expand its presence in the premium hair care segment. Similarly; in 2017, Aveda launches a novel range of hair pure-fume mists, that contains certified organic plant-based ingredients. Additionally, Procter & Gamble Co. is at work with scientists at the Royal Botanic Gardens, to expand access to natural ingredients employed in product such as shampoo. Moreover, growing hair-related problems also prompt the market growth. For instance; as per American Academy of Dermatology, the most common reason of hair loss is a medical condition termed as hereditary hair loss. About 80 million men and women in the United States have this type of hair loss.
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Asia Pacific offers an immense opportunity to the hair and scalp care product market during the forecast period (2019-2026).
Asia Pacific is anticipated to grow with a fastest CAGR during the forecast period. The growth of the region is attributed due to ever growing aging population, higher disposable income in developing countries like China and India, and awareness about hair care are encouraging growth in the region. Further, according to International Monetary Fund (IMF), Asia Pacific is the world’s economic engine at present and the economy is anticipated to grow at 5.7% till 2020. Moreover, many companies have launched their product in Asia Pacific and have increased momentum too. Companies for instance; L’Oréal has launched novel hair care product to reinforce their product portfolio in India. Furthermore, increasing initiatives by companies Marico limited, Aveda, Wella India etc. is expected to fuel the market growth in this country. For example; The haircare brand Aveda US-based was launched in India in 2018 with a range of product intended to cater to Indian consumer’s demand and based on Indian Ayurvedic values. Similarly, in 2017, Marico’s has launched a novel campaign for its advanced hair oils. On the other hand, Wella India employed social media platform to generate awareness among target groups.