According to IMARC Group’s latest research report, titled “Hair Growth Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the hair growth products market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global hair growth products market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
Hair Growth Products Market Overview:
Hair growth products encompass a wide range of formulations, including shampoos, conditioners, serums, and supplements, specifically designed to nourish the scalp, strengthen hair follicles, and aid in stimulating the growth of new hair strands. Just as industrial degreasers specifically remove grease and contaminants from surfaces in industrial settings, hair growth products cater to the needs of individuals who desire fuller, thicker, and healthier hair. With advancements in the field of hair care research and a growing emphasis on personal grooming, the market for hair growth products has witnessed substantial growth, presenting a multitude of opportunities for businesses operating in this sector.
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Hair Growth Products Market Trends:
The escalating demand for effective hair growth solutions majorly drives the global market. This can be supported by the rising prevalence of hair loss and hair thinning issues among both men and women. Along with this, factors such as stress, pollution, changing lifestyles, and genetic predispositions have led to an increase in hair-related concerns, creating a substantial market for hair growth products. In addition, the growing consumer awareness about personal appearance and grooming, coupled with the influence of social media and the fashion industry, has increased the desire for luscious, voluminous hair.
As a result, individuals are seeking out hair growth products that provide visible and long-lasting results. Furthermore, technological advancements in the formulation of hair care products have led to the development of innovative ingredients and delivery systems that enhance the efficacy of hair growth products. Furthermore, the emergence of natural and organic hair growth products, as consumers are increasingly inclined towards sustainable and eco-friendly options. These bio-based formulations, often free from harmful chemicals, have gained traction among environmentally conscious consumers and are creating a positive market outlook.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Farouk Systems Inc.
- Johnson & Johnson
- L’Oréal S.A.
- Mosaic Wellness
- Nutrafol (Unilever plc)
- Philip Kingsley Products Ltd.
- Vita Balance Inc.
- Yanagiya Honten Co. Ltd.
Product Type Insights:
- Shampoos and Conditioners
- Serums
- Oils
- Supplements and Vitamins
- Others
Gender Insights:
- Men
- Women
Age Group Insights:
- Under 35
- 35 to 50
- Above 50
Distribution Channel Insights:
- Online
- Offline
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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