The global luxury hair care market size is anticipated to value USD 31.50 billion until 2027. It is also expected to register 5.9% CAGR over the forecasted period, 2020 to 2027. The increasing disposable income of the millennial population coupled with rising awareness about hair care products is projected to propel the market growth.
In 2019, the product segment of shampoos accounted for the largest share of more than 31.4% owing to the increasing consumer demand towards the adoption of shampoos having organic and natural ingredients. The hair coloring segment is anticipated to gain the highest growth in the upcoming years due to the shifting trend towards the adoption of at-home hair coloring treatment.
The specialty stores segment dominated the global market with a 31.0% share in 2019 on account of rising inclination among consumers for physical verification of the products. On the other hand, the e-commerce segment is estimated to witness the fastest growth in the upcoming years due to the increasing adoption of smartphones and the internet.
In 2019, Asia Pacific held the largest share of 39.3% across the global luxury hair care market owing to the rising adoption of natural and organic shampoos across countries like India and China. North America is expected to register significant growth over the forecasted years, 2020 to 2027 due to the surging consumer demand for premium hair care products and rising online spending.
The market across the globe includes key players such as KOSÉ Corporation, L'Oréal, SEVEN, LLC, Alcora Corporation, and Estee Lauder Companies. Product innovation and development is carried out by the key players to widen their geographical reach and product portfolio.
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Further key findings from the report suggest:
• In 2019, the shampoo segment held the largest share of 31.4% across the global market.
• The e-commerce distribution channel segment is projected to witness highest CAGR from 2020 to 2027.
• Asia Pacific accounted for the highest share of 39.3% across the global market in 2019.
• The key players operating in this market are KOSÉ Corporation, L'Oréal, SEVEN, LLC, Alcora Corporation, and Estee Lauder Companies.
Million Insights has segmented the global luxury hair care market on the basis of product, distribution channel and region:
Luxury Hair Care Product Outlook (Revenue, USD Million, 2016 - 2027)
• Hair Coloring Products
• Hair Styling Products
• Hair Oils
Luxury Hair Care Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Supermarkets & Hypermarkets
• Departmental Stores
• Specialty Stores
Luxury Hair Care Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)