Growth in the hair care sector slowed somewhat in 2020, from 5.5 percent in 2019 to 4.9 percent, keeping with the broader beauty industry’s deceleration. Haircare, on the other hand, remained more resilient than skincare and color cosmetics, which saw even more severe declines. Thanks to increased innovation in places like New Hair Clinic, the hair care industry has been able to resist current market pressures better.
Haircare has evolved from a simple personal care item to encompass more advanced solutions that address particular hair care concerns as a result of several breakthroughs. Leave-in conditioners, including serums and masks, have become more widely available as a result of these advancements, and the conditioner market has reaped the benefits. Colorants have been added to hair oil in the last several years. Many colorant brands use an ‘Oil Delivery System,’ rather than ammonia, which is thought to be harder on hair, to penetrate pigments. Colorants grew at the second-fastest rate in percentage terms, behind conditioners, with a rise of almost 30 percent, thanks to these new products. When it comes to overall progress in hair care, though, shampoos are to blame. Product improvements helped the shampoo industry, although expansion was mostly spurred by greater use in developing countries. In 2020, developing markets accounted for over 90% of all shampoo sales worldwide.
New frontier markets, including Australia, Turkey, Indonesia, and Iran, contributed to the rise of shampoos in 2020, as did China, Brazil, and India. Buyers in Australia, Turkey, Indonesia, and Iran have been upgrading to more expensive and sophisticated Western goods as their incomes have increased, and international brands have been more widely available. Two-thirds of India’s population of one billion plus lives in rural regions, making shampoos a particularly fascinating case study. Western-style hair treatment is starting to become more popular in rural regions as soap is progressively being replaced with a shampoo product. A steady rise in the number of these previously underserved customers is resulting in substantial benefits in absolute terms. In fact, the global hair care industry expects some countries to rise from their present positions to upward positions by 2022. Despite these changes, Brazil continues to be the primary focus.
Despite Brazil’s prominence as a potential development area, developed countries like Australia account for half of the worldwide hair care industry. Western markets have achieved a high degree of maturity, and the introduction of ground-breaking technologies can only cause growth. By adding goods based on other beauty categories, such as skincare and color cosmetics, manufacturers have hoped to boost sales. Because of the effective promises made in skincare, hair care has become increasingly performance-oriented. It is not uncommon for hair care launches to try to imitate the fervor around color cosmetics releases.
Going ahead, it’s essential to consider how sophisticated these markets will become. There are still aspects of hair care that have still to be explored, despite the progress that has been made in this field.
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