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Luxury Hair Care Market Size, Growth 2027 | Industry Trends Report

Luxury Hair Care Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17620176  |  Published: October 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Personal Care Products  |  Publisher: Grand View Research

Industry Insights

The global luxury hair care market generated a revenue of USD 19.95 billion in 2019. It is also estimated to register a 5.9% CAGR from 2020 to 2027. The rising adoption of luxurious hair care products for providing enhanced nourishment and the increasing emergence of e-commerce platforms for the sale of personal care products is expected to drive the market growth.

Concepts like affiliate marketing and drop shipping are gaining traction across the globe. Thus, the key players have started focusing on launching genderless generation products for catering to the wide range of consumer demand. Also, techniques like natural packaging are being implemented by them to gain a cutting edge and increase their brand awareness.       

The U.S. luxury hair care market

The market is expected to gain momentum from 2021 due to the rising adoption of these hair care products among the young population. Moreover, marketing strategies like brand stretching and favorable initiatives undertaken by governing bodies are anticipated to propel the market growth.

Product Insights

In 2019 the shampoos product segment held the dominant share of around 31.4% across the global luxury hair care market. Rising consumer demand towards the adoption of shampoos having organic and natural ingredients is expected to drive major contribute towards the market growth for this segment.

The product segment of hair coloring is anticipated to register the fastest growth from 2020 to 2027. The shifting trend towards the adoption of at-home hair coloring and treatment is estimated to contribute majorly towards the growth of this segment. Moreover, increasing usage of luxury hair coloring products in the salons is further expected to fuel up the market growth.

Distribution Channel Insights

The segment of specialty stores held the dominant share of around 31.0% across the global market in 2019. This share can be attributed to the rising inclination among consumers for physical verification of the product before making the buying decision. Also, features like wide product portfolio, expert suggestions, and discounts offered by these stores are anticipated to propel the market growth.

Global luxury hair care market

The segment of e-commerce is expected to register the highest CAGR in the upcoming years. The rising adoption of smartphones and the internet among the millennial population coupled with the emergence of e-commerce platforms are expected to augment the growth for this segment in the upcoming years.

Regional Insights

The Asia Pacific held the dominant share of around 39.3% across the global luxury hair care market in 2019. The increasing adoption of natural and organic shampoos across countries like India and China is expected to drive the market growth. Moreover, external factors like rising disposable income among the millennial population and shifting trend towards usage of premium products are anticipated to further fuel up this growth.

North America is anticipated to witness significant growth in the upcoming years. This can be associated with the increasing consumer demand for premium hair care products and rising online spending on the purchase of personal care products across this region. But, the market is witnessing stiff competition due to the emergence of the direct-to-consumer sales channel.

COVID-19 Impact Analysis

The market has been negatively impacted due to the COVID-19 pandemic. The imposition of lockdown and restrictions over the movement of cargo has severely hampered the supply chain. Moreover, shutting down of salons due to the risk of the spread of viruses along with the lack of skilled laborers in these salons is anticipated to hinder the market demand for luxury hair care products. But, rapid technological advances undertaken by the players like the usage of organic ingredients are expected to drive the market growth.

Luxury Hair Care Market Share Insights

The global market is characterized by several prominent players that account for the majority of the sales. The key players operating in the market are SEVEN, LLC, L'Oréal, Kao Corporation, Alcora Corporation, KOSÉ Corporation, and Estee Lauder Companies.

Strategies like acquisitions, product development, collaboration and innovation are being carried out by these players to widen their product portfolio and geographical reach. For example, Kao Corporation had declared acquisition over Oribe in 2017 for USD 441 million.

Report Scope

Attribute

Details

Market size value in 2020

USD 15.3 billion

Revenue forecast in 2027

USD 31.5 billion

Growth Rate

CAGR of 5.9% from 2020 to 2027

Base year for estimation

2019

Actual estimates/Historic data

2016 - 2018

Forecast period

2020 - 2027

Quantitative Units

Revenue in USD billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

The U.S.; The U.K.; France; China; India; Brazil; UAE

Key companies profiled

L'Oréal; Estee Lauder Companies; SEVEN, LLC.; Alcora Corporation.; Kao Corporation; KOSÉ Corporation

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.


Segments Covered in the Report
 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2016 to 2027 in each of the sub segments. For the purpose of this study, Million Insights has segmented the global luxury hair care market on the basis of product, distribution channel and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)
    • Shampoos
    • Conditioners
    • Hair Coloring Products
    • Hair Styling Products
    • Hair Oil
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
    • Supermarkets & Hypermarkets
    • Departmental Stores
    • Specialty Stores
    • E-commerce
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
    • Europe
        • The U.K.
        • France
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • UAE

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