Hair Oil Market is driven by the rising hair fall and damage conditions
The global hair oil market is expected to reach USD 3.9 billion by 2025, registering a CAGR of 4.78% during the forecast period (2020-2025). The growing demand for natural and organic hair care products has encouraged women to spend more on organic hair products and oils, such as shampoos, conditioners, and serums. The growing popularity of brands whose primary goal is to maintain natural hair growth is expected to drive market growth. The rising trend of using source specific ingredients and non-ingredient formulations is supposed to increase market growth. Organized points of sale maximize their market share by attracting consumers based on competitive pricing systems and offering a variety of products.
French cosmetics company L'Oréal aims to introduce its new line of hair care products that are based on indigenous ingredients to capitalize on the rising fame of Ayurvedic products in India. The new line called "Garnier Ultra Blends" will be divided into the segment of shampoos, conditioners and oils and creams, with India being the first market in Asia to witness the launch.
Market Drivers and Restraints:
The growth of the global hair oils market is driven by fluctuating hair styling trends, rapidly increasing disposable income, rapid population growth, and increasing air pollution around the world. Professional hair oils stimulate hair growth by penetrating deep into the follicles. However, the expenses related to premium hair oils and the usage of dangerous chemicals by a few companies are limiting the expansion of the global hair oils market to the large extent.
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Report is segmented as:
By Product type:
· Coconut oil
· Almond oil
· Argan oil
By Distribution Channel:
· Specialty stores
· Drug stores/ pharmacies
· Supermarket/ hypermarkets
· Convenience stores
· Other distribution channels
On the basis of geography, the global hair oil market is segregated into regions namely Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, Asia-Pacific is forecasted to dominate the market due to the rising population.
Key market players:
Some of the leading manufacturers in the hair oil market are L’Oreal S.A., Coty, Inc., Unilever PLC, Marico Limited, Dabur India Limited, Emami Group, Procter & Gamble, Bajaj Corp Ltd., and The Himalaya Drug Company among others.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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