According to IMARC Group’s latest research report, titled “Hair Growth Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the hair growth products market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global hair growth products market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
Hair growth products refer to a wide range of topical and oral treatments that aid in stimulating hair growth, preventing hair loss, and improving the overall health and appearance of hair. They generally comprise various active ingredients, such as biotin, keratin, caffeine, minoxidil, saw palmetto, and other vitamins and minerals. Additionally, they can be purchased commercially in a broad range of products, such as shampoos, conditioners, oils, serums, and supplements. They aid in promoting blood circulation, nourishing the scalp and hair follicles, and decreasing oxidative stress and inflammation. They also are beneficial in blocking the effects of dihydrotestosterone (DHT), a hormone that causes hair loss. They may require consistent use over a period of several months to see significant results, and individual results may vary.
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Hair Growth Products Market Trends:
The growing awareness about personal care and the increasing prevalence of hair loss majorly drive the global market. Apart from this, the widespread adoption of shampoos and conditioners for the overall health of the hair and can combat dryness, oiliness, dandruff, itchiness, and irritation, is significantly supporting the market. Along with this, the rising cases of stress, anxiety, pollution, and hair loss due to hormonal changes, medical conditions, heredity, and aging is also propelling the demand for hair growth products. Apart from this, the introduction of cruelty-free, chemical-free, and plant-based products, such as veg keratin hair conditioners, oil, and shampoos that help reduce damage and replenish hair protein is driving the market. Furthermore, the launch of affordable herbal hair growth products manufactured using organic ingredients, which are vegan and ammonia-free, is creating a positive market outlook. Some of the other factors driving the market include increasing consumer spending power and the emergence of e-commerce platforms.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Farouk Systems Inc.
- Johnson & Johnson
- L’Oréal S.A.
- Mosaic Wellness
- Nutrafol (Unilever plc)
- Philip Kingsley Products Ltd.
- Vita Balance Inc.
- Yanagiya Honten Co. Ltd.
Product Type Insights:
- Shampoos and Conditioners
- Supplements and Vitamins
Age Group Insights:
- Under 35
- 35 to 50
- Above 50
Distribution Channel Insights:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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