New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hair Care Stores Global Market Report 2023" - https://www.reportlinker.com/p06464187/?utm_source=GNW
Ltd, Goody Products Inc., and Neutrogena Corporation.
The global hair care stores market is expected to grow from $152.94 billion in 2022 to $166.01 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hair care stores market is expected to reach $217.32 billion in 2027 at a CAGR of 7.0%.
The hair care stores market includes revenues earned by entities by providing temporary hair colors, sem-permanent dyes and permanent dyes.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Hair care stores are retail establishments that provide hair care items such as hairstyle products, hair treatments, hair coloring products, and hair accessories. These establishments sell a variety of items from various brands and provide services such as haircuts, styling, and coloring.
North America was the largest region in the hair care stores market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in hair care stores report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of hair care stores are hair colorants, shampoo, conditioners, hair oil, and others.Hair colorants offer a variety of commercial products that can color hair in a variety of tones and shades, from very light blonde to black, going through shades like golden ash, reddish, mahogany, violet, etc.
The distribution channels involved are supermarkets or hypermarkets, specialty stores, online stores, and others, which include hair treatment, scalp treatment applications.
Increasing hair and scalp problems are driving the growth of the hair care stores market going forward.Hair and scalp problems cover a wide range of conditions that can have an impact on the condition and look of the hair and scalp.
The wide range of goods and services available in hair care shops are all intended to support healthy hair and scalp.These products include shampoos, conditioners, hair oils, and treatments that focus on specific hair issues including dandruff, hair loss, or dryness.
Hence, an increase in hair and scalp problems boosts the demand for hair care stores and their products. For instance, in April 2022, according to the International Society of Hair Restoration Surgery (ISHRS), a US-based non-profit medical organization responsible for hair loss treatment and restoration, the market size of the hair plantations, an effective treatment for many types of hair and calp problems had increased by 64% from 2014 to 2021 and now totalled $ 6.5 billion. In addition, 87 percent of its patients are men and 13% of hair transplant patients are female, Therefore, increasing hair and scalp problems is expected to propel the growth of the hair care stores market.
Technological advancements have emerged as the key trend gaining popularity in the hair care stores market.Major companies operating in the hair care stores market are developing advanced technologies to sustain their position in the market.
For instance, in March 2022, Revieve Oy, a Finland-based beauty technology company, introduced AI Haircare Advisor, created in partnership with the Living Proof haircare line by Unilever plc, a UK-based consumer goods company.Revieve’s AI Haircare Adviser empowers clients to understand and care for hair with user input, unique mobile selfie diagnostics for hair, and AI-powered personalized recommendations.
Customers can submit their issues and expectations for a haircare routine in the AI Haircare Adviser experience. Customers can take a picture, which is then examined using patented mobile selfie diagnostics to assess the state of many hair parameters like hair type, volume, curl type, color, and others.
In April 2022, Wella AG, a Germany-based provider of hair cosmetics and fragrances acquired Briogeo Hair Care for an undisclosed amount.With the acquisition, Wella Company is expected to expand its portfolio of hair care products and diversify its offers.
Wella Company would profit from Briogeo’s expertise in natural and clean hair care, while Briogeo would benefit from Wella Company’s global reach and resources. Briogeo Hair Care is a US-based cosmetic company that offers a full selection of clean, natural and effective hair care products in their multiple hair care stores.
The countries covered in the hair care stores market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hair care stores market research report is one of a series of new reports that provides hair care stores market statistics, including hair care stores industry global market size, regional shares, competitors with hair care stores market share, detailed hair care stores market segments, market trends, and opportunities, and any further data you may need to thrive in the hair care stores industry. This hair care stores market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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