NEW YORK, May 3, 2024 /PRNewswire/ — The global hair masks market size is estimated to grow by USD 95.72 million from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of almost 3.59% during the forecast period.
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Technavio has announced its latest market research report titled Global Hair Masks Market 2023-2027
|
Report Attribute |
Details |
|
Base Year |
2022 |
|
Forecast period |
2023-2027 |
|
Historic Data for |
2017 – 2021 |
|
Segments Covered |
Distribution Channel (Offline and Online) and Application (Professional and Individual) |
|
Key Companies Covered |
Amway Corp., Avon Products, Chatters GP Inc., Colgate Palmolive Co., Coty Inc., Godrej Consumer Products Ltd., Henkel AG and Co. KGaA, John Paul Mitchell Systems, Johnson and Johnson, Kao Corp., LOreal SA, NATULIQUE Ltd., Natura International Inc., Revlon Inc., Shiseido Co. Ltd., ST. TROPICA Inc., The Estee Lauder Co. Inc., The Ouai haircare, The Procter and Gamble Co., and Unilever PLC |
|
Regions Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
Key Trends Fueling Growth
Growing adoption of products with organic compounds:
In the past five years, there’s been a big change in how people buy hair care products worldwide. People are shifting away from regular products because they can cause problems when used for a long time. Instead, they’re turning to organic options. Even though regular products might give quick results and cost less, they can cause issues over time.
Many doctors and beauty experts are talking about organic products because they work well without causing harm. Organic hair masks are a big part of this trend. They might not give instant results, but they work over time. They’re made from natural stuff like olive oil, egg, avocado, coconut oil, aloe vera, and banana.
These things can help fix damaged hair and make it softer, shinier, and thicker. Plus, they give deep moisture and nutrients. Because of all these benefits, the market for hair masks is expected to grow a lot in the next five years.
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Major Challenges:
Availability of counterfeit brands
The global hair masks market has a presence of many counterfeit hair masks, which hinder the markets growth. With the growing sales of these counterfeit products, customers may not be able to differentiate them from genuine products. The counterfeit market is driving the influx of fake products, especially through the internet. The availability of counterfeit products is adversely affecting the sales of major vendors of hair care products (including hair masks) in the global hair masks market.
Also, it hampers the goodwill and image of the original manufacturers. To gain a competitive advantage in the market, duplicate brands price their products at a lower rate, but their products lack quality and durability.
Low production costs encourage the production of counterfeit hair care products (including hair masks). Consumers are often misled by fake packaging and similar product names as that of established brands, especially in APAC countries such as China, India, and Thailand, and Middle Eastern countries such as the UAE, Saudi Arabia, and Qatar.
To curb such activities, many prominent vendors have introduced campaigns to encourage consumers to buy the original products. Thus, growing sales of these counterfeit products may hinder the growth of the market during the forecast period.
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Analyst Review
The Hair Masks Market is witnessing significant demand due to growing concerns about pollution levels, hair damage, and hair loss among both men and women. Consumers are increasingly seeking hair masks that offer restorative, moisturizing, and hydrating benefits to combat dry, frizzy, and thin hair textures. With changing lifestyles and increasing awareness about the harmful effects of harsh shampoos and chemical treatments, there is a rising preference for natural ingredients in hair care products.
This has led to a surge in the popularity of hair masks made from bananas, coffee seeds, and henna packs, which are known for their nourishing properties. Additionally, there is a growing trend towards home remedies and scalp-friendly formulations to address issues like scalp inflammation and allergic reactions.
Key players in the haircare industry are focusing on technological innovations to expand their product portfolios and cater to the diverse needs of millennials and consumers seeking cosmetic solutions. Salons, haircare professionals, and specialty stores play a vital role in the distribution and promotion of hair masks, often endorsed by celebrities to enhance their market presence.
Market Overview
Hair masks are essential for addressing various hair concerns such as dryness, frizz, and scalp irritation. With a focus on hair growth, texture, and density, the market offers a range of options. Heating tools like hair straighteners often cause damage, making hair masks crucial for restoration. They provide deep conditioning and treatment, tackling dryness and frizz effectively. Consumers seek products free from parabens, synthetic colors, phthalates, and sodium lauryl sulfate to avoid allergic reactions and scalp irritation.
As awareness grows, demand for natural ingredients is on the rise. The market caters to these preferences by offering formulations rich in nourishing elements. With a variety of options available, the hair masks market continues to expand, meeting the diverse needs of consumers globally.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Distribution Channel
Offline
Online
Application
Professional
Individual
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
