Market Research Report
Canada Hair Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Canada Hair Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 90 Pages
Delivery time: 2-3 business days
The Canada hair care market is projected to register a CAGR of 6.58% during the forecast period (2021 - 2026).
The hair care market has been affected by the COVID-19 crisis, as there have been widespread retail and salon store closures leading to the weakening sales of hair care products in the market. The work-from-home trend had a negative impact on the haircare market due to less usage of products as consumers reduced the amount of time they spent on hair maintenance.
The growing demand for organic/natural products for personal grooming has become one of the primary concerns for individuals. Among the organic hair care products, owing to their wide usage, conditioners and shampoos held a majority share in the global organic haircare market in 2020. Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period.
The changing fashion trends and rise in awareness of the availability of new, more effective, and safer hair care products have led to a significant increase in the use of these products, which in turn boosting the hair care market
The Canadian hair care products market witnessed an increasing demand for natural and organic products, due to the rise in consumer awareness about the harmful effects of certain compounds, such as paraben and aluminium compounds present in hair care products. A high percentage of consumers choose one brand over others, based on its natural formulation. This enhanced the demand for safe, natural, and organic skin and hair care products in recent times. Furthermore, anti-dandruff organic hair oils are expected to register robust growth over the forecast period. The demand for organic hair care products in Canada is expected to increase at a substantial rate thus, driving the market further.
The Canadian market has witnessed a significant rise in demand for hair care products, coupled with rising in hair fall problems, which is likely to contribute to the growth of the shampoo market. Furthermore, increasing celebrity endorsements, a rise in demand for natural and organic products, ease of usage, and availability of small travel-size packs are the major trends observed in the shampoo market. The increasing number of people facing hair and scalp problems because of unhealthy eating habits across the country are some of the major factors, which are expected to drive the growth of the hair shampoo segment in hair care market.
The industry leaders include L'Oreal S.A., Johnson & Johnson Inc., Unilever, and Procter & Gamble. The key players are actively focusing on gaining larger market shares, through constant innovation in products, expansion, and investments in R&D, for the development of niche products. Apart from product innovation and merger and acquisition, considering global environmental and human health issues, the market players are adopting sustainable initiatives to accelerate the haircare industry's progress to address plastic waste. Considering the above-mentioned factors, the competitive rivalry in the industry is assessed to be high.