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Asia Pacific Hair Care Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Asia Pacific Hair Care Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

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Asia Pacific Hair Care Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The Asia Pacific Hair Care Market size is estimated at USD 33.04 billion in 2023, and is expected to reach USD 43.59 billion by 2028, growing at a CAGR of 5.70% during the forecast period (2023-2028). Key HighlightsThe usage of premium hair care products is most prevalent in the megacities of Asia-Pacific countries. This is likely to increase further with the growing middle class and consumption of consumer products. The increasing internet penetration and push of e-commerce companies to attract consumers are driving sales from e-commerce in the Asia-Pacific region. In contrast, sales from physical retail channels continue to dominate the market. Changing consumer dynamics and increasing pollution in the region's major cities, coupled with increasing product awareness, have been identified as the primary drivers of the market. For instance, according to IQAir, Bhiwadi was the most polluted regional city in India in 2021, with an average PM2.5 concentration of 106.2 micrograms per cubic meter of air (?g/m³). PM2.5 concentrations at this level are regarded as unhealthy and pose significant health risks to the general public.Furthermore, increasing millennial consumers, migration toward cities, and rising women's employment further augment the market demand. The increasing population of cities is directly driving sales of haircare products through specialty stores, e-commerce websites, and salons in particular. The Asia-Pacific hair care market witnessed an increasing demand for natural and organic products due to the rise in consumer awareness about the harmful effects of certain compounds, such as paraben and aluminum, in haircare products. Countries with zestful consumer cultures, such as India, China, and Japan, have opened the way for the organic/herbal hair care business to thrive. Over the last half-decade, these countries' large populations and favorable network externalities have helped them achieve tremendous development in the organic hair care industry. Such factors are expected to augment the growth of haircare products in the region during the forecast period.Asia Pacific Hair Care Market TrendsIncreasing Demand for Organic/Herbal Hair Care Products The Asia-Pacific hair care market witnessed an increasing demand for natural and organic products due to the rise in consumer awareness about the harmful effects of certain compounds, such as parabens and aluminum, in hair care products. Additionally, consumers with sensitivity tend to look for natural and fragrance-free products. This demand led most companies to launch natural-inspired products, such as plant-based and premium botanical ingredients. For instance, in August 2022, OrgaGlo, a plant-based skin and hair care brand, entered the Indian personal care and cosmetic industry with 18 products under its umbrella. The company claimed that its products had been formulated using plant-derived ingredients free from harmful chemicals. Countries with zestful consumer cultures, such as India, China, and Japan, have opened the way for the organic/herbal hair care business to thrive. Over the last half-decade, these countries' large populations and favorable network externalities have helped them achieve tremendous development in the organic hair care industry. Also, increasing penetration of organic products through online sales channels and more players offering them through e-commerce websites are expected to attract consumers, thus driving the sales of organic hair care products.India Accounts as the Fastest-growing Market in the Region Changing consumer dynamics, coupled with increasing product awareness, has been identified as the primary driver of the market. These changes are due to the high millennial population, migration toward cities, rising women's employment, and increasing spending capacity. The migration to cities has directly impacted the traditional hair care products market. Growing awareness among consumers about scalp issues reflects a massive need for scalp care products. The demand for basic essential commodities and the hair oil market is expected to rise throughout the forecast period. In India, consumers increasingly prefer items made with natural components. As a result of linking sulfates and parabens to frizzy hair, flaky scalps, and split ends, customers are avoiding products containing these compounds in favor of natural or herbal alternatives. This factor, in turn, has created a pathway and a blueprint for organic manufacturers to enter the hair care business. For instance, in May 2022, Medimix, the flagship brand of the AVA Group, announced the launch of its new hair care line, Total Care Shampoo. Medimix total care shampoo is made of nine natural herbs and other essential ingredients, which include neem, rosemary oil, licorice, tea tree oil, Datura, wild ginger, wheat protein, Bakuchi, and apple cider vinegar. Hence, such developments are expected to drive people toward organic and herbal hair care products over synthetic products, creating ample opportunities for organic hair care stakeholders.Asia Pacific Hair Care Industry Overview The market is highly fragmented due to numerous small and large vendors. Companies have also begun to invest considerably in advertising to increase product awareness among users. The key players actively focus on gaining larger market shares through constant product innovation and investments in R&D to develop niche products. Companies are also using this strategy to build their brands and improve customer satisfaction, providing products more inclined to the customers' needs. The industry is considered to have significant levels of competitive rivalry in light of the abovementioned criteria. To speed up the global beauty industry's progress in tackling plastic waste, market players are considering environmental and human health issues and embracing sustainable initiatives, along with new product developments and mergers and acquisitions. Some of the major players in the market include Dabur India Ltd, Procter & Gamble, Unilever PLC, L'Oréal SA, and Kao Corporation.Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Please note: The report will take approximately 2 business days to prepare and deliver.

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