USD 20.2 billion
Global Hair Oil Market Size, Share, Growth Analysis, By Product Type(Coconut Oil, Almond Oil), By Category(Non-Medicated, Medicated), By Distribution Channel(Hypermarkets & Supermarkets, Pharmacies) - Industry Forecast 2024-2031
Report ID:
SQSG30L2021 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|
Tables:
91 |
Figures:
76
Global Hair Oil Market Insights
Hair Oil Market size was valued at USD 20.2 billion in 2019 and is poised to grow from USD 21.79 billion in 2023 to USD 40.12 billion by 2031, growing at a CAGR of 7.9% in the forecast period (2024-2031).
An individual frequently uses hair oils to reduce the likelihood of hair loss, dandruff, and other hair issues. The market is expanding primarily due to rising consumer awareness about the availability of various hair care products. Customers specifically search these as per their hair types that may include dry and smooth. The product primarily aids in lengthening and strengthening hair, which supports the market expansion. These days, basil, aloe Vera, and other plant extracts used to make these oils are incredibly popular since they work so well at nourishing hair. As a result, producers are putting a lot of effort into creating these medicated hair oil solutions to address people's hair-related issues. For instance, in New York, U.S., in 2019, the British haircare brand Champo, whose parent company is CHAMPO LTD., introduced a range of hair care items based on Ayurvedic principles, including shampoo, hair oil, conditioners, etc.
The demand for medicated hair oil products is anticipated to increase due to the rising prevalence of hair-related issues and disorders, including Alopecia areata, Telogen effluvium, and many others. As of August 2020, the United States was home to almost 50 million men and 30 million women who have androgenetic alopecia hair disease, according to data provided by the U.S. National Library of Medicine. Furthermore, an increasing number of spa clinics & hair salons across the globe is further supporting the growth of the market.
The damage that regular pollution causes the hair to become dry. As a result, there is a significant shift in consumer preference for hair oils, as massaging hair oils into the scalp can both prevent hair from drying out and increase an individual's hair volume. The global hair oil market is being driven by consumer preference for hair oils because they are among the best hair care products. The increasing customer desire for light hair oils is another reason that enables players to consistently invent new hair oil products.
US Hair Oil Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Medicated
Fastest Growth
Medicated
Growth Rate
7.9% CAGR
Global Hair Oil Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Hair Oil Market By Category, 2021-2028 ($ Bn)
Global Hair Oil Market By Category, 2021-2028 (%)
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Global Hair Oil Market Segmental Analysis
Global hair oil market is segmented based on product type, category, distribution channel and region. Based on the product type, the global Hair Oil Market is segmented by oil type into coconut oil, almond oil, argon oil and others. Based on the category, the global Hair Oil Market is segmented non-medicated and medicated. Based on the distribution channel, the Hair Oil Market is divided into hypermarkets & supermarkets, pharmacies, online stores, and others. Based on Region, Hair Oil Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Hair Oil Market Analysis by Product Type
Global hair oil market is segmented into coconut oil, almond oil, argon oil, and other types of oil depending on the type of product. Coconut oil is projected to dominate the market due to the cost-effectiveness and higher adoption among consumers compared to other varieties. Furthermore, coconut oil essentially aids in the treatment of dry and damaged hair, supporting additional segmental growth.
Hair Oil Market Analysis by Category
Hair oil market is divided into non-medicated and medicated segment. Wherein, the medicated segment is holding higher market share on account of a significant consumer shift toward professional hair care product on the advice of medical professionals. Additionally, compared to other forms of hair oils, medicated oils are thought to be the most reliable.
Hair Oil Market Analysis by Distribution Channel
By distribution channel, the global hair oil market is divided into hypermarkets and supermarkets, pharmacies, internet stores, and others based on the distribution channel. Due to the extensive selection of both branded and locally produced personal care products offered by these retailers, the hypermarkets and supermarkets segment is anticipated to account for a sizable portion of the market. Additionally, hair oil products are frequently available over-the-counter (OTC) at such businesses, which contributes to the segment's continued growth.
Global Hair Oil Market By Category, 2021(%), 2023 (%)
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Global Hair Oil Market Regional Insights
Asia Pacific is projected to continue holding a significant global hair oil market share due to strong population base in India, China, Japan, and South Korea. In fact, the region houses over 45% of the global population. In addition to this, the region has strong presence of elderly population which has a significant impact on the prevalence of hair-related diseases in these nations. According to data provided by the Statistics Bureau of Japan, 35.89 million people in Japan were 65 years of age or older as of 2019. The populace in the region is also becoming more conscious of personal cleanliness and health care issues, which is boosting the market expansion.
Rising innovation and new product introductions by start-ups are further driving market growth. For instance, on September 17, 2021, an 85-year-old Indian couple was moved by the hair loss of their daughter and introduced Keshpallav, a hair oil that contains 50 plants. Male pattern baldness, hair loss, and other scalp-related disorders can all be helped with this oil. Additionally advised in ayurvedic treatment, scalp rubbing with oil is a custom in Indian culture. Additionally, a rising consumer desire for herbal and natural hair oils to cure postpartum hair loss is propelling market expansion in this area. For instance, "Nomees Dhruvi" made its debut in August 2020 and was created especially for ladies who struggle with postpartum hair loss. It
North America is predicted to expand at a faster rate in the global hair oil market due to the substantial infrastructure facilities connected to spa clinics in nations like Mexico and the United States, which are likely to promote the demand for medicated hair oil products in the region. The American Med Spa Association's research indicates that there were 5,431 med spas in the United States as of 2018. Additionally, the region's market is expanding as a result of the increased demand for professional hair and skin care products and the presence of a population with greater incomes.
Product innovations and the presence of major companies like Procter & Gamble, Coty Inc., L'Oreal, and others are supporting the market growth. Increased investment in the growth of the beauty and personal care industries by businesses in the region is credited with driving the market's rapid expansion in North America. Increasing demand for more sophisticated and affordable hair treatments is another element boosting North America hair oil market revenue. More than 90% of American consumers are interested in buying hair care products and are serious about their haircare habits. Consumers in the United States, Canada, and Mexico intend to buy more specialised hair-related products, including oils, shampoos, and treatments for the hair and scalp, among others.
Over the course of the projection period, the Europe hair oil market is anticipated to expand steadily. For companies delivering the newest hair oil solutions, the rising desire for customised skin and hair care products is opening up significant revenue prospects. The abundance of spas and salons in the nations in this region is also helping the market's income to increase.
Global Hair Oil Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Hair Oil Market Dynamics
Hair Oil Market Driver
- There are a number of factors that are driving the demand for hair oil. One of the key factors is the increasing awareness among people about the importance of hair care. People are now more conscious about their appearance and are looking for products that can help them achieve the perfect look. It is one of the products that can help in this regard.
- Another factor that is driving the demand is the changing lifestyle of people. With more and more people leading busy lives, they are looking for products that can save them time and effort. It fits this bill perfectly as it can be applied quickly and does not require any additional styling or maintenance.
- Apart from these, there are a number of other factors such as rising disposable incomes, growing population of working women, etc., which are also contributing to its increasing demand.
- The top drivers of the adhesive and sealant market are increasing awareness among people about the importance of hair care, changing lifestyle, and rising disposable incomes.
Hair Oil Market Restraint
- There are many factors that can hamper demand in the market. For one, if the price rises too high, people may be less likely to purchase it. Additionally, if there are concerns about the safety of hair oil, this could lead to lower demand. Another factor that could impact demand is if there is a glut of other products on the market that serve the same purpose as them. Finally, changes in fashion trends can also affect demand for hair oil – if “big” hairstyles are no longer popular, then people may be less likely to buy these products.
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Global Hair Oil Market Competitive Landscape
Many businesses in the global hair oil market are putting their attention on organic growth techniques including product launches, product approvals, and other things like patents and events. Acquisitions and partnerships and collaborations were examples of inorganic growth tactics that were observed in the market. These actions have made it possible for market participants to increase their clientele and business. With the increasing demand for hair oil on the worldwide hair oil market, players are projected to enjoy attractive growth prospects in the future. Major businesses are using a variety of tactics, engaging in mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more potent hair oils.
Hair Oil Market Top Player's Company Profiles
- Marico Limited
- Unilever PLC
- L'Oreal S.A.
- Procter & Gamble Co.
- The Himalaya Drug Company
- Emami Limited
- Dabur India Limited
- Johnson & Johnson
- Kao Corporation
- Bio Veda Action Research Company (Biotique)
- Patanjali Ayurved Limited
- Henkel AG & CO. KGAA
- Revlon, Inc.
- The Estée Lauder Companies Inc.
- Avon Products, Inc.
- Amway Corporation
- Shiseido Co., Ltd.
- Oriflame Holding AG
- LVMH Moët Hennessy - Louis Vuitton SE
- Sally Beauty Holdings, Inc.
Hair Oil Market Recent Developments
- In February 2022, L’Oreal Paris launched the Extraordinary Oil Smooth Products. The range consists of 4 products – a shampoo, conditioner, hair serum, and steam mask.
- In February 2022, Dabur India Ltd announced the launch of “Virgin Coconut Oil’, further strengthening its presence in the coconut oil market.
- In July 2021, Marico to acquired 60% in Apcos, that owns Just Herbs.
Global Hair Oil Key Market Trends
Increasing Interest in Herbal Hair Oil Ingredients
- Consumers are gravitating for organic oils as a result of rising consumer knowledge of items with chemicals in them. This is because organic oil products strengthen tresses and produce high-quality care items. Additionally, consumers favour herbal-based oils because they are composed of natural ingredients and offer significant advantages. These hair oils in the global market are also used to treat other hair issues, such as hair loss and dry or flaky scalp. Consumers use hair to encourage hair development in addition to moisturising benefits. Additionally, some customers utilize these products to enhance blood flow to their scalps. For instance, aloe vera-based products improve the texture of the hair and increase the person's hair density. As a result, the market is witnessing higher growth due to the rising demand for herbal constituents.
Global Hair Oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Hair Oil market analysis, increased awareness of effects of natural ingredients, rise in purchasing power of consumers, and increased interest in fashionable hairstyles are driving the growth of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 20.2 billion |
| Market size value in 2031 | USD 40.12 billion |
| Growth Rate | 7.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Hair Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Hair Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Hair Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hair Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hair Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hair Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Hair Oil Market Report Snapshots
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