Portland,OR, Aug. 04, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global professional hair care market generated $19.16billion in 2018, and is estimated to reach $26.24billion by 2026, registering a CAGR of 4.6% from 2019 to 2026.The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Frequent change in hair style trends and surge in disposable income of consumers of the developing nations such as China and India drive the growth of the global professional hair care market.However,high cost associated with professional hair care products is anticipated to restrain the growth of the market. Furthermore,growing adoption of organic ingredients in manufacturing of hair care productsis expected to create new growth opportunitiesfor market playersduring the forecast period.
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Covid-19 scenario:
- Major professional hair care product manufacturers across the globe havestopped their production activities due to disrupted supply chain amid the lockdown due to Covid-19 pandemic.
- Amid the lockdown, the governments of various countries across the globe have ordered to close salons and beauty parlours to stop the Covid-19 transmission. Due to this, the demand for professional hair care products is expected to decline during the forecast period.
The report offers a detailed segmentation of the global professional hair care market based onproduct type, distribution channel, and region.
Based on product type, the shampoossegmentcontributed to the largest share in 2018, accounting fornearly two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, thehair coloring segmentis estimated to portray the highest CAGR of 4.9% during the forecast period.
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Based on distribution channel, the salons segmentaccounted for the largest share in 2018, holding nearly one-thirdof the total share, and is expected to maintain the largest share throughout the forecast period. However,the e-commerce segmentis expected to register the highest CAGR of 6.1% from 2019 to 2026.
Based on region,North Americacontributed the highest share, accounting formore than one-thirdof the total market sharein 2018, and will maintain its dominance throughout the forecast period.However, Asia-Pacific it is alsoexpected to grow at the highest CAGR of 5.6% from 2019 to 2026.
Leading market players analyzed in the research include Henkel Corporation, L'Oréal SA,Unilever Corporation,Procter & Gamble Co., Aveda Corporation (Estée Lauder), Kao Corporation, Revlon Inc.,Avon Products Inc.,Shiseido Company, Limited, and Toni & Guy.
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