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

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

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Brazil Hair Care Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The Brazil Hair Care Market size is expected to grow from USD 6.06 billion in 2023 to USD 7.70 billion by 2028, at a CAGR of 4.92% during the forecast period (2023-2028). The rising incidence of hair problems such as hair loss, hair damage, and other hair-related products has significantly impacted the market with consumers' inclination towards using various hair care products such as hair oil, shampoo, and other products that claim to contain functional ingredients that assist in maintaining hair health. Despite the economic slump and recession-like environment for its people, Brazil continues to dominate the hair care market drive in Latin America, followed by Mexico and Argentina. A slowing Brazilian economy, stagnant economies, rising cost of products, and some other key factors are the challenges in the hair care market of Brazil. Due to the rise in hectic schedules and lifestyles, online shopping is becoming a convenient medium for purchasing daily essentials, including hair care products. It is gaining more popularity among millennials and work professionals. Moreover, the ease of use of different online shopping applications as per the convenience of the consumers and the use of applications in smartphones and other devices is increasing the sales of hair care products through online retailers. For instance, the products available via online retail stores often carry offers that allow customers to buy the product of their choice at a lesser price than in single stores.Brazil Hair Care Market TrendsIncreasing Focus on Personal Care Over the last few years, the general public has placed a greater emphasis on personal care, as the importance of aesthetic appearance has grown. Furthermore, rising per capita disposable income has fueled demand for various hair care products, and these factors are expected to drive the hair care market potential throughout the projection period. Moreover, the rising demand for natural and organic hair care products has encouraged manufacturers to invest in research and development and introduce organic/natural, toxin-free products that are gentle on the scalp and the hair and cater to all hair types. Additionally, manufacturers incorporating plant extracts, natural essences, and herbs have been driving the market in a positive direction.Hair Care Products like Shampoo are Gaining Importance in the Market Shampoo products that claim to have additional functionalities such as hair repair and nourishment imparting nature are gaining importance in the market. Moreover, shampoo is one of the most commonly used hair care products in the country. Dry shampoo, and shampoo in small unit packaging tend to drive the market in a positive direction as these products are extensively available in retail establishments like supermarkets and other distribution channels operating in the country. Innovative packing strategies and combo offers offered by the manufacturers in the market encourage consumers in the market to choose these products in the market. For instance, P&G offers shampoo with conditioner combos that have collective claimed functions such as hair loss treatment.Brazil Hair Care Industry Overview The Brazilian Hair Care market is competitive, owing to the presence of large regional and domestic players. Emphasis is given to the merger, expansion, acquisition, and partnership of the companies and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The major players in the hair care market include Unilever, Proctor & Gamble, Johnson & Johnson, L’Oréal SA, and Natura & Co.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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