According to the market report published by Future Market Insights titled ‘Hair Styling Products Market: Global Industry Analysis and Opportunity Assessment 2017-2027,’ the revenue generated from hair styling products is estimated to be valued at over US$ 17,650.8 Mn in 2017, which is projected to increase at a CAGR of 5.1% during the forecast period (2018-2027).
The global cosmetic industry has been surging at a higher rate over the past couple of years. In the cosmetic industry, the hair care segment accounts for a larger customer base in the global market. An increasing number of consumers, especially the millennial population, are now more conscious about their looks and appearance, especially when it comes to hairstyling. This has boosted the demand for various hair styling products across the globe. Various hair styling products are available in the market, which provide the results desired by customers. Hair gels, hairsprays, styling creams, hair mousse and others are among the various types of hair styling products available in the market. The global hair styling products market has come a long way in terms of product offerings due the continuous launch of new products by major manufacturers of hair styling products.
With the varying needs and demands of target customers, various hair styling products manufacturers are aiming at introducing customised hair styling products in the global market. As a result, customisation is the new trend in the global hair styling products market. Owing to the rising preference of customers for organic and natural products, various manufacturers of hair styling products focus on introducing products that contain natural ingredients. For instance, in 2017, Crème of Nature announced the launch of a new line of hair styling products that claim to contain various natural ingredients. In 2014, CURLS hair Care Company announced the launch of one of the main types of hair styling products, i.e. natural hair creams, under its own brand name for the North America market. In 2016, French hair styling products conglomerate L’Oreal announced the launch of hair styling products, which include hair creams as well as hair spray, for the Indian market.
Promotional strategies are among the key strategies being adopted by various manufactures of hair styling products. Celebrity branding is considered to be one of the key marketing strategies that effectively influences the minds of customers, especially the millennial population, which helps drive the demand for various hair styling products. Other than celebrity branding, hair styling product companies adopt various types of marketing campaigns to gain traction, which include advertising campaigns, digital marketing, etc.
The global hair styling products market has witnessed a higher rate of Internet penetration. The e-commerce channel has now become the preferred platform for customers with regards to buying any kind of consumer goods. Thus, e-commerce is an influential component responsible for the growth of the global hair styling products market over the forecast period. Moreover, various manufacturers of hair styling products have been aiming at promoting their products through various online channels, which showcase their features much more effectively. Major hair styling product companies consider online channels among the key marketing tools for gaining customer trust as well loyalty.
Key Players in the Hair Styling Products Market Detailed profiles of companies in the hair styling products market are also included in the global hair styling products market report to evaluate their strategies, key product offerings and recent developments. Some of the key players profiled in the global hair styling products market study include Procter & Gamble, L’Oreal, Unilever plc, Shiseido Company, Amorepacific corporation, Flora, Ltd., Kao Corporation, Henkel AG & Company, Godefroy Manufacturing Company, Swallowfield plc, Shu Uemura Art of Hair, Vogue International LLC, CURLS(R), LLC, Ouai haircare, Redken, Scental Pacific, Delta Laboratories Pty Ltd., Natrocare Laboratories, Mizani and Mielle Organics LLC.
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