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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).

Many businesses in the 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. '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.'

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.

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 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.

Asia Pacific is projected to continue holding a significant 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 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.

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Global Hair Oil Market

Product ID: SQSG30L2021