Luxury Hair Care: Introduction
- The luxury hair care market consists of products & services for men and women. Products such as shampoos, oils, and serums are made available by various distribution channels while luxury hair care services can be availed at home, at salons, parlors, etc.
- The luxury hair care market is anticipated to expand during the forecast period due to changing lifestyles, increased spending on appearance / outlook, rise in number of hair salons, rise in disposable income, and introduction of various hair care products for men.
Key Drivers and Opportunities of the Global Luxury Hair Care Market
- Increasing adoption of western lifestyles have supported the growth of the luxury hair care market globally. The working population of women has increased significantly in the past few years which has resulted in them spending their disposable income on grooming and looking more presentable. Most people consider their looks as an important attribute of their character due to extensive professional competition in various sectors, which is a driving factor for the luxury hair care market.
- Increase in consumer preference for natural products has led to the transformation of hair care products. Natural products are now preferred by consumers and hence manufacturers are also focusing on producing, labelling, and advertising their products as “green,” “natural,” and /or “organic.” The shift in labelling is done due to manufacturers’ knowledge of consumer preference for non-toxic products and emphasis on consumer awareness about the effect of cosmetic chemicals on the environment as well as on the body. The marketing strategies adopted by manufacturers is expected to fuel the luxury hair care market during the forecast period.
- Digital technology and social media have also affected hair care products and their services, from customer relations to marketing, resulting in the rising sale of hair care products. The lockdown due to the Covid-19 pandemic has affected the business of the luxury hair care market; however, the market is expected to flourish during the forecast period.
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Asia Pacific to Hold Major Share of the Global Luxury Hair Care Market
- In terms of geography, the global luxury hair care market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific and North America are the two regions with majority of share while the U.S., China, Japan, Brazil, and Germany are the top countries in the global luxury hair care market.
- The rising prevalence of online distribution channels coupled with increased internet penetration and rise in disposable income is projected to propel the luxury hair care market during the forecast period.
Key Players Operating in the Global Luxury Hair Care Market
Major players operating in the global luxury hair care market include:
- Alcora Corporation
- Estee Lauder Companies
- Jose Eber Hair
- Kao Corporation
- KOSE Corporation
- Seven, LLC.
Global Luxury Hair Care Market: Research Scope
Global Luxury Hair Care Market, by Type
- Oil & Serums
- Hair Coloring Products
- Hair Cream & Gels
- Hair Sprays
- Others (Hair Mousse, etc.)
Global Luxury Hair Care Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Hypermarket / Supermarket
- Specialty Stores
- Other Retail Stores
Global Luxury Hair Care Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.