The luxury hair care market is projected to experience robust growth through 2033, driven by increasing consumer interest in premium and high-performance hair care products. The market’s expansion is fueled by a growing awareness of hair health, the rise of social media influence, and a willingness among consumers to invest in luxury beauty products.
Newark, Aug. 08, 2024 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global luxury hair care market is expected to grow from USD 22.66 Billion in 2023 to USD 42.90 Billion by 2033, at a CAGR of 6.59% during the forecast period 2024-2033.
This growth is attributed to the growing use of luxury hair care products as complete hair solutions. Also, there is a growing demand for chemical products which should be natural. The surge in disposable income and demand for anti-hair loss and anti-ageing products, along with the advancement in technology and innovation in the beauty sector, are some of the factors driving the luxury hair care market.
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Competitive Strategy
To enhance their market position in the global Luxury Hair Care market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In April 2021: Kao Corporation launched its luxury hair salon brand ORIBE, which includes 23 products, in Japan using its subsidiary Kao Salon Japan. The ORIBE brand has a robust market presence among leading hair salons and department stores in Europe and the US. The launch in Japan helped the organization expand its brand portfolio and gain a customer base in the region. It eventually helped the organization gain a share in the Luxury Hair Care market.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 6.59% |
| 2033 Value Projection | USD 42.90 Billion |
| Market Size in 2023 | USD 22.66 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Product, Gender, Distribution Channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Luxury Hair Care Market Growth Drivers | Surge in Gen Z consumers |
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Market Growth & Trends
The surge in awareness for new hair care trends like anti-dandruff treatments, scalp care and treatment for oil hair, among others, are broadly dependent on information sharing by influencers and industry experts on social media. It has been found that Gen Z consumers who are between 18 and 24 years old are the key consumers in the haircare sector, and these consumers broadly buy haircare products such as conditioners, shampoos, serums, hair oil sprays, etc. Based on a recent survey in the US among Gen Z, more than 33% of the population prefer to use hair masks regularly, and over 50% have done some kind of hair treatment in the last six months. Moreover, around 54% of them are planning to have some kind of hair treatment in the coming six months. All these factors will eventually drive the Luxury Hair Care market. The market seems to have significant growth due to a broad surge in disposable income among people in developing countries. People with high purchasing power want to invest more in premium hair care products that are more effective and give a good experience. The growing influence of social media culture and celebrity endorsement also plays a key role in influencing consumers towards these luxury hair care products. Influencers and celebrities generally showcase their beautiful hair and attribute it to the effectiveness of luxury hair care products. It helps surge the sales of premium hair products. Also, the recent trend suggests that consumers generally prefer luxury hair care products formulated with natural and sustainable sourced components. Also, crucial oil, botanical extracts and organic compounds are preferred because of their nourishing properties and environmentally friendly nature. Also, it has been observed that many luxury brands are adopting the customization trend and providing tailored solutions based on the hair concerns of the consumer. Consumers prefer luxury hair products that cater to their hair textures, type, and style preferences, and they can range from shampoo to conditioners to personalized treatment routines. Also, innovation has become the key factor for luxury hair care products as many key players are looking to develop cutting-edge formulations using advanced technologies.
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Key Findings
• In 2023, the Shampoos segment dominated the market with the largest market share of 29.82% and market revenue of USD 6.76 Billion.
The product segment is divided into conditioners, shampoos, hair coloring products, styling products, hair oil and others. In 2023, the Shampoos segment dominated the market with the largest market share of 29.82% and market revenue of USD 6.76 Billion. Shampoos are considered an important part of the personal care schedule.
• In 2023, the Women segment dominated the market with the largest market share of 82.89% and market revenue of USD 18.78 Billion.
The gender segment is divided into men and women. In 2023, the Women segment dominated the market with the largest market share of 82.89% and market revenue of USD 18.78 Billion. This market share is attributed to the surge in the number of working-class women.
• In 2023, the Offline segment dominated the market with the largest market share of 73.55% and market revenue of USD 16.76 Billion.
The distribution channel segment is divided into online and offline. In 2023, the Offline segment dominated the market with the largest market share of 73.55% and market revenue of USD 16.76 Billion. People still prefer physical shopping.
Regional Segment Analysis of the Luxury Hair Care Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global Luxury Hair Care industry, with a market share of 37.55% and a market value of around USD 8.51 Billion in 2023. This market share is attributed to the region’s growing demand for premium organic hair care products. Also, the large population in Asia has become more aware of several benefits that sustainably sourced luxury products provide.
Key players operating in the global Luxury Hair Care market are:
• Kao Corporation
• L’Oréal Groupe
• SEVEN, LLC
• Alcora Corporation
• EstéeLauder Companies, Inc.
• RAHUA
• KEVIN.MURPHY
• PHILIP KINGSLEY PRODUCTS LTD.
• Jose Eber
• KOSÉ Corporation
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Luxury Hair Care market based on below mentioned segments:
Global Luxury Hair Care Market by Product:
• Conditioners
• Shampoos
• Hair Coloring Products
• Styling Products
• Hair Oil
• Others
Global Luxury Hair Care Market by Gender:
• Men
• Women
Global Luxury Hair Care Market by Distribution Channel:
• Online
• Offline
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About the report:
The global Luxury Hair Care market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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