Asia Pacific Hair Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Hair Care Market is forecasted to reach USD 33.89 billion by 2025 growing at a CAGR of 3.74% during the forecast period.

Key Highlights

• With the increasing incidence of thinning hair and hair loss, hair care products are expected to gain attraction, as consumers look for non-surgical procedures and at-home products to overcome these issues.
• Some of the major side effects of cosmetic products are - breakouts around the mouth, skin cancer, damage to the nervous system, acne and pimples, and damage to internal organs. Although cosmetic products do not affect each person with side effects, the health concerns surrounding these products are hindering their growth among some consumers who are reluctant to use these products, thus restraining the growth of the market studied.

Key Market Trends

Largest hair care market in APAC: China

In APAC, China holds the largest market share, and is expected to hold its position during the forecast period. It has the potential to become the largest market of hair care products over the next five to ten years. Consumption of premium hair care products is most prevalent in tier 1 megacities, with increasing penetration in China's inland tier 2 and tier 3 cities. This is further likely to increase with growing middle class and consumption of consumer products.

Fastest growing Hair Care market in APAC : India

Indian Hair care market is projected to record fastest growth rates in the Asia-Pacific region. Changing consumer dynamics, coupled with increasing product awareness, has been identified as the major driver of the market. These changes are majorly due to high millennial population, migration towards cities, and rising women employment. This migration to cities has directly impacted the market of traditional hair care products. Meanwhile, existing population of the cities is the reason for the uptick in sales from specialty stores, e-commerce websites, and particularly salons.

Competitive Landscape

Owing to the presence of numerous small and large vendors, the market is highly fragmented. Companies have also begun to invest considerably on advertising, to increase product awareness among users. The companies are also using this method to develop their brands and improve customer satisfaction, with the provision of products that are more inclined to the customers needs. Some of the major players in the market include New Avon LLC, L'Oreal S.A., Johnson & Johnson Consumer Inc., Oriflame Cosmetics AG, Unilever.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support