The global hair styling products market is projected to reach a valuation of US$ 23.5 billion in 2023, with a significant CAGR of 5.4% CAGR, according to Future Market Insights. The market is anticipated to be worth US$ 39.9 billion by 2033. The increase in demand for multi-functional and innovative products that offer benefits such as heat protection, anti-frizz, and UV protection, along with their primary styling function, is driving this growth. Hair styling products that offer long-lasting shine and volume without causing damage are also popular.
The focus on efficiency, longevity, and great styling results in high-end specialized products for professional use is increasing. These products meet the needs of both consumers and experts by accommodating a variety of hair types, textures, and styles. Many people are searching for the same professional products used by top stylists for the ultimate in hairstyle perfection, which has fueled this trend as a result of the growth of digital networking.
Growing Innovation and Product Improvement in Hairstyles, along with a Huge Shift in Global Fashion Trends, has led to changes in the ingredients and technology behind hair styling products. Hair care products that stop hair loss, improved product preparations, and an increase in hair styling and colorant products have been a sign of individual identity. Earlier, only women purchased hair styling products, but nowadays, guys are becoming more interested in using clays, waxes, and other styling products on their hair. This is also relevant because the world’s fashion trends are ever-evolving.
One significant aspect that is driving the hair styling products market is the introduction of organic products. People were hesitant to use hair products because they had so many drawbacks. A lot of people are also experiencing excessive hair loss, which makes it challenging for them to use hair products. The demand for organic hair care products is expanding significantly in the global market for hair styling products. The leading players in the market have launched a new line of organic products to draw clients.
The hairspray segment is expected to record a CAGR of 6.1% through the forecast period. The market in Japan is expected to record a CAGR of 4.1% over the forecast period. Several companies focus on sustainability, eco-friendliness, and ethical sourcing in their product offerings to meet consumer demands and remain competitive. The use of social media and influencer marketing is becoming increasingly important in promoting hair styling tools and building brand awareness. Asia Pacific is expected to be a significant market for hair styling tools due to changing consumer preferences, increasing disposable income, and urbanization.
The competitive landscape of the hair styling products market is highly fragmented, with global and regional players competing for market share. Some key players in the market include L’Oreal SA, Procter & Gamble Co., Unilever PLC, Henkel AG & Co. KGaA, Amway Corporation, Avon Products Inc., Revlon Inc., Kao Corporation, Shiseido Company Limited, Estee Lauder Companies Inc. These companies compete on product quality, pricing, marketing, and distribution strategies. They are investing in product innovation, expanding their portfolio, and exploring new distribution channels to remain competitive. Furthermore, companies focus on sustainability and ethical sourcing to meet changing consumer demands and stay ahead of the curve.
The hair styling products market is segmented by product, end-use, gender, sales channel, and region. The different product segments include hair gels, hair sprays, styling creams and waxes, hair mousse, and others. The end-use segments include household, salons and spas, and the fashion industry. The gender segments consist of male hair styling products, female hair styling products, and unisex hair styling products. The sales channel segments include online sales and retail sales. The different regions analyzed in the report include North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
In conclusion, the global hair styling products market is projected to grow significantly, driven by the increase in demand for multi-functional and innovative products that cater to the changing needs of consumers. Companies are investing heavily in product innovation and expanding their portfolio to remain competitive. The introduction of organic products is another significant aspect that is driving the market. Companies focus on sustainability and ethical sourcing to meet changing consumer demands and stay ahead of the curve. The use of social media and influencer marketing is becoming increasingly important in promoting hair styling tools and building brand awareness.
