According to "Luxury Hair Care Products Global Market Report 2022", the global luxury haircare market was expected to grow from $19.27 billion in 2021 to $20.62 billion in 2022 at a compound annual growth rate (CAGR) of 7.1 percent and it is expected to grow further to $27.22 billion in 2026 at a compound annual growth rate (CAGR) of 7.2 percent.
The luxury haircare market consists of sales of luxury haircare products by entities (organizations, sole traders, and partnerships) that are used by individuals for the overall health of the hair. These products generally refer to high-end haircare products that are sold at a premium price to the consumer. Luxury haircare products contain highly concentrated ingredients compared to regular or generic brands.
The main types covered in the luxury haircare market include shampoos, conditioners, hair coloring products, hair styling products, hair oil, and other product types. Shampoo refers to cleansing special soap used to wash the hair. The luxury haircare products are sold through different distribution channels including supermarkets and hypermarkets, departmental stores, specialty stores, e-commerce, and other distribution channels.
Asia-Pacific was the largest region in the luxury haircare market in 2021. The regions covered in the luxury haircare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The luxury haircare market research report is one of a series of new reports that provides luxury haircare market statistics, including luxury haircare industry global market size, regional shares, competitors with a luxury haircare market share, detailed luxury haircare market segments, market trends and opportunities, and any further data you may need to thrive in the luxury haircare industry. These luxury haircare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Increasing penetration of e-commerce platforms is expected to propel the growth of the luxury haircare market going forward. The e-commerce retail market refers to buying of goods using the internet, and the transfer of money and data to execute these transactions.
The E-commerce retail market helps the luxury haircare market with easy transactions, selling items and services directly to clients, and delivering products to the home. For instance, according to the study published in Digital360, an Italy-based provider of digital branding, e-commerce across the globe increased from $3.46 trillion in 2019 to $4.29 trillion in 2020, at a current penetration rate of 20.2 percent. Therefore, the growing penetration of e-commerce platforms is expected to boost demand for luxury haircare during the forecast period.
Product innovation is a key trend gaining popularity in the luxury haircare market. Many companies operating in the luxury hair care sector are looking for new product innovations to strengthen their position in the luxury hair care market.
For instance, in May 2022, Medimix, an India-based manufacturer of cosmetic products including skin care and hair care, launched organic total care shampoo in its hair care portfolio. Medimix's total care shampoo consists of wheat protein and other nine natural herbs such as tea tree oil, rosemary oil, neem, wild ginger, and others in a unique formula, which will help in minimizing hair loss, act as anti-dandruff, and conditioning hair.
The countries covered in the luxury hair care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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