ABOUT THE HAIR CARE MARKET
The global hair care market is expanding at a steady pace and is likely to continue doing so during the course of the forecast period. One of the most important factors responsible for this stability is the demand for healthy, lustrous, and manageable hair and this need drives the purchase decisions of most consumers.
The market for hair care products expected to grow significantly across developing and developed regions owing to increasing R&D activities for the enhancement of these products. Moreover, an emphasis on innovation in technology for the formulation of new hair care products is expected to impact the market globally.
The global hair care market was valued at US$81.3 bn in 2015 and is expected to reach US$105.3 bn by 2024, registering a steady 3.0% CAGR during the forecast period.
Availability of Variety of Hair Styling Products and Devices a Key FactorIn terms of revenue, the shampoo segment accounts for the dominant share in the hair care market, and registered a 30.9% share in 2015. The shampoo market is gaining popularity thanks to product innovation based on evolving customer needs. The major players offering a wide variety of shampoos in the market include Procter & Gamble Co., L’Oréal S.A., and Unilever plc.
Hair styling products form a highly attractive segment in the hair care market and is projected to expand at a 4.4% CAGR. Hair styling products include mousse, holding sprays, heat-resistant sprays, sprays for curly hair, serums, and gels. The growing demand for hair styling products due to the changing purchasing behavior and patterns of consumers is likely to boost this product segment. A key trend noted in this segment is the fact that local manufacturers in Africa and APAC have been focusing on new product development and innovation catering to consumer preferences so as to establish a loyal customer base over the years.
Hair colors are gradually witnessing increased demand across the globe. This can be attributed to the ever-rising influence of the fashion industry and a rise in the global aging population. A recent trend noted in this segment is an increase in male consumers.
Men’s grooming products have gained much popularity in recent years and this global trend is reflected in the hair color market as well.
Hair Care Product Categories: Shampoos, Hair Color, Conditioners, Hair Styling Products, and Hair Oils.
ABOUT THE SKIN CARE MARKET
Consumer trends for cosmetic skin care products vary from region to region. While skin lightening and brightening products are in greater demand in Asia Pacific, anti-aging creams have been witnessing higher demand in Europe and North America.
On the other hand, consumers in countries with dry weather, such as Brazil and Argentina, are more prone to purchasing sun protection products.
Cosmetic skin care is one of the most dynamic markets in the personal care industry and is driven by evolving consumer trends and innovations on the part of manufacturers. The opportunity in the global cosmetic skin care market stood at US$127.1 bn in 2015 and this is projected to rise to be worth just over US$200 bn by 2024, expanding at a 5.1% CAGR therein.
Skin Care Product Categories: Anti-Aging Cosmetic Products, Skin Whitening Cosmetic Products, Sensitive Skin Care Products, Anti-Acne Products, Dry Skin Care Products, Warts Removal Products, Infant Skin Care Products, Anti-Scars Solution Products, Mole Removal Products, Multi Utility Products; Application - Stem Cells Protection against UV, Flakiness Reduction, Rehydrate the skin’s surface, Minimize wrinkles.
ABOUT THE NAIL CARE MARKET
Nail care is one of the most essential parts of female fashion. Approximately 92% of females use nails care products in the world.
It is believed that women aged 55 and above are the major consumers of nail care services across the globe.
Global nail care market is estimated to reach USD 9.2 Billion by 2019, thus making it one of the most appealing businesses for the new and existing players.
Nail Care Product Categories: Nail Polish, Nail Polish Remover, Nail Treatments, Nail Hardeners.