February 21, 2024
Professional Hair Care Market

Professional Hair Care Market Propelled by Increased Focus on Natural Ingredients

The professional hair care market comprises hair care products specifically targeted towards professional usage in salons and beauty parlours. Professional hair care products are formulated to impart multiple benefits like gentle cleansing, intense conditioning, detangling, damage control, styling etc. without chemical residue. The Global Professional Hair Care Market Size is estimated to be valued at US$ 25.96 Billion in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased focus on natural ingredients in hair care products is driving the professional hair care market substantially. Consumers are increasingly preferring products containing natural ingredients like essential oils, plant-derived cleansers, botanical extracts etc. as they are considered safer and more beneficial for hair and scalp compared to chemical-laden synthetic products. Popular natural ingredients in professional hair care products include coconut oil, argan oil, olive oil, aloe vera, keratin, vitamins, tea tree oil etc. Formulators are investing in research to find new natural actives and incorporate them in products to attract consumers. The clean label trend is thus propelling the demand for natural hair care products used by hair professionals

SWOT Analysis

Strength: The professional hair care market has strong expertise of brands and manufacturers to provide quality products that address specific hair issues and needs.
Weakness: High prices of professional hair care products limit their adoption rate in developing countries. Limited access to salons and stylists in rural areas also act as a weakness.
Opportunity: Growing population of working women and increased awareness about haircare present an opportunity to expand market reach. Demand for herbal and natural ingredients-based products also provides opportunities.
Threats: Changing consumer preferences towards do-it-yourself haircare using online tutorials and social media pose a threat. Strict regulations over product formulations in various regions also limit innovations.

Key Takeaways

The global professional hair care market is expected to witness high growth supported by rising disposable incomes and growing fashion consciousness.

The market in North America currently dominates due to high consumer spending on hair salon services and professional hair care products in countries like the US and Canada. Major hair care brands are focusing on expanding their distribution footprint through e-commerce channels and direct-to-consumer brands to tap the fast growing online retail platforms globally.

Key players operating in the professional hair care market are Meta Inc., HTC Corporation, Unity Technologies, Microsoft Corporation, Samsung Electronics Co., Ltd., Magic Leap, Sony Corporation, Vuzix Corporation, Apple Inc, Niantic Inc., Northern Digital Inc., Snap Inc., SoftServe, and Accenture. These companies are actively investing in R&D to develop innovative hair care solutions infused with natural ingredients and technology features like precision applications.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it