Consumer Goods

Hair Styling Products Market

Global Industry Analysis and Forecast 2024-2031

Pages : 120

Base Year : 2023

Released Year : February 2024

Format :Pdf Ppt Xls

Report ID:KR474

Author : Omkar R.

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Base Year

2023

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Forecast Year

2024-2031

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Historical Years

2019-2022

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Market Value (2023)

USD 22.80 Billion

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Forecasted Value (2031)

USD 33.67 Billion

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CAGR (2024 - 2031)

5.03%

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Fastest Growing Region (2024 - 2031)

Asia Pacific

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Largest Region

North America

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By Product

Hair Gels, Hair Sprays, Styling Creams & Waxes, Hair Mousse, Others

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By Gender

Male, Female, Unisex

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By Sales Channel

Wholesalers/Distributors, Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores and Online Stores


Market Perspective

The global Hair Styling Products Market was valued at USD 22.80 billion in 2023 and is projected to reach USD 33.67 billion by 2031, growing at a CAGR of 5.03% from 2024 to 2031.

The hair styling products market is currently experiencing a dynamic and robust landscape, driven by changing consumer preferences, evolving fashion trends, and an increasing emphasis on personal grooming. In recent years, the market has witnessed steady growth, offering a wide array of products that cater to diverse styling needs. Several factors such as the rise of e-commerce, continuous product innovation, and a growing awareness of grooming among consumers are contributing to the positive market scenario. Manufacturers are responding to rising consumer demands by developing advanced formulations that not only style but also nourish and protect the hair. With the continuous evolution of consumer preferences and the growing emphasis on personal grooming, the hair styling products market is poised for sustained expansion in the forthcoming years.

Analyst’s Review on Hair Styling Products Market

Several key trends are influencing the growth of the hair styling products market. One prominent trend is the increasing demand for sustainable and natural ingredients in styling products. Consumers are becoming increasingly mindful of the environmental impact and are seeking eco-friendly options.

Another notable trend in the sector is the integration of technology into hair styling products, with innovations such as heat protection and smart formulations gaining popularity. The hair styling products market outlook for the forecast years remains positive, driven by these trends and the industry's response to evolving consumer needs.

Continuous product innovation, coupled with effective marketing strategies, is expected to fuel market expansion in the near future. Additionally, the influence of social media on beauty trends continues to shape consumer preferences, driving the market toward more versatile and trend-driven products.

Market Definition

Hair styling products encompass a diverse range of formulations designed to shape, hold, and enhance the appearance of hair. These products include hair gels, sprays, styling creams, waxes, mousse, and various other specialized items. The applications of hair styling products are extensive, catering to individual styling preferences and needs. Consumers use these products to achieve a variety of hairstyles, ranging from sleek and structured looks to voluminous and textured styles. From everyday styling to special occasions, the versatility of these products makes them a staple in personal grooming routines.

While there may be regional and country-specific regulations regarding the ingredients used in these products, the industry typically adheres to safety and quality standards. The global nature of the market requires manufacturers to stay compliant with regulatory frameworks to ensure the safety and satisfaction of consumers.

Market Dynamics

A significant factor driving the growth of the hair styling products market is the increasing focus on personal grooming and self-expression. As societal norms evolve, both male and female consumers are embracing diverse hairstyles, thereby contributing to the demand for a wide array of styling products. This cultural shift toward self-expression and experimentation is positively impacting market growth.

However, a major restraint in the market is the challenge of environmental sustainability. With consumers becoming more environmentally conscious, there is an increasing demand for eco-friendly and sustainable products. This puts pressure on manufacturers to adopt eco-friendly practices, which may entail higher production costs and operational adjustments.

A lucrative growth opportunity in the hair styling products market lies in the growing e-commerce and online sales. The convenience of purchasing styling products online, coupled with the ability to explore a wide range of options, has led to a significant shift in consumer behavior. Companies can capitalize on this trend by enhancing their online presence, optimizing user experiences, and leveraging digital marketing strategies.

On the other hand, a significant challenge faced by the hair styling products market is posed by the complex and evolving regulatory landscape related to product ingredients. As consumers become more conscious about the components of styling products, complying with varying regulations across regions becomes a major challenge for manufacturers. Navigating these regulatory complexities while maintaining product effectiveness and innovation requires careful consideration and adaptation.

Segmentation Analysis

The global hair styling products market is segmented based on product, gender, sales channel, and geography.

Based on product, the market is segmented into hair gels, hair sprays, styling creams & waxes, hair mousse, and others. In 2023, the hair gels segment emerged as the leading segment, generating the highest revenue. This growth is mainly driven by its surging popularity for providing strong, long-lasting holds in various hairstyles. Consumers are increasingly favoring the versatility and styling control offered by hair gels, which is contributing significantly to the segment's dominance in the hair styling products market.

Based on gender, the market is classified into male, female, and unisex. In 2023, the female segment secured the largest market share, propelled by a surge in the demand for diverse styling products catering specifically to women's hair types and preferences. The female consumer base exhibited a notable inclination toward experimenting with various hairstyles and trends, which contributed to the growth of the segment. This has prompted manufacturers to offer an extensive range of products tailored to meet the unique styling needs of women, thus solidifying the female segment's leading position.

Based on sales channel, the market is classified into wholesalers/distributors, supermarkets/hypermarkets, convenience stores, specialty stores, and online stores. The specialty stores and online stores segment is anticipated to experience the highest CAGR from 2024 to 2031 due to the continued surge in e-commerce popularity. The convenience, extensive product variety, and ease of comparison and purchase offered by online platforms are driving consumers toward online channels. Additionally, the digital landscape's evolution and increased consumer trust in online transactions are contributing to the anticipated robust growth of the online segment as the preferred sales channel for hair styling products.

Geographical Analysis

Based on region, the global hair styling products market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

North America dominated the market in 2023 with the highest valuation, reflecting a robust demand for diverse hair styling products across the region. The regional market growth is primarily fueled by a combination of factors, including a strong emphasis on personal grooming, the influence of fashion trends, and a well-established retail infrastructure. Consumers in North America are often early adopters of new beauty and grooming trends, which is contributing to the region's market dominance substantially. Additionally, the presence of key market players and a high level of consumer awareness are solidifying North America's position as a key region in the global hair styling products market.

Asia Pacific is the fastest-growing region in the market with the highest forecast CAGR between 2024 and 2031. The growing economies in the region, coupled with a rising middle-class population, are contributing to the increased demand for hair styling products. As disposable incomes rise, consumers in countries such as China, India, and Japan are allocating more budget to personal grooming, thereby driving the growth of the market in the region.

The influence of global beauty trends, facilitated by social media and digital platforms, is another significant factor propelling the demand for a diverse range of hair styling products in the Asia Pacific region. The market dynamics in this region are characterized by a blend of traditional beauty practices and a growing appetite for innovative and international products, making it a focal point for industry players looking to capitalize on emerging opportunities.

Competitive Landscape

The global hair styling products market study will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Expansion & investments involve a range of strategic initiatives including, investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, which could pose new opportunities for the market. The major players in the market are

  • Cover Your Gray
  • The Estée Lauder Companies Inc.
  • Revlon, Inc.
  • Indus Valley
  • L'oreal SA
  • Combe Incorporated
  • Oriflame Cosmetics AG
  • Coty, Inc.
  • Hoyu Co., Ltd
  • John Paul Mitchell Systems
  • Kao Corporation
  • KOSÉ Corporation
  • CHANEL

Key Developments

  • August 2023 (Partnership): PBA XG Formulations partnered with the Professional Beauty Association (PBA) to advance the professional beauty industry. This collaboration aimed to leverage PBA's expertise in advocacy and education, aligning with PBA XG Formulations' commitment to providing innovative products and solutions for beauty professionals, thereby fostering industry growth and development.
  • June 2023 (Partnership): Procter & Gamble (P&G) announced an exclusive partnership with Lazada to launch "HairDNA," a personalized haircare microsite for shoppers in the Asia Pacific region. The collaboration aimed to offer a tailored platform for customers' haircare needs, demonstrating P&G's commitment to personalized beauty solutions through digital channels.

The global Hair Styling Products Market is segmented as:

By Product

  • Hair Gels
  • Hair Sprays
  • Styling Creams & Waxes
  • Hair Mousse
  • Others

By Gender

  • Male
  • Female
  • Unisex

By Sales Channel

  • Wholesalers/Distributors
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Specialty Stores and Online Stores
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America.
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Frequently Asked Questions (FAQ's)
The global hair styling products market is projected to reach USD 33.67 billion by 2031, growing at a CAGR of 5.03% from 2024 to 2031.
The global hair styling products market was valued at USD 22.80 billion in 2023.
Increased consumer emphasis on personal grooming and the growing demand for sustainable and eco-friendly hair styling products are key drivers propelling the market growth.
Top manufacturers of hair styling products market are KOSÉ Corporation, Cover Your Gray, The Estée Lauder Companies Inc., Revlon, Inc., Indus Valley, L'oreal SA, Combe Incorporated, Oriflame Cosmetics AG, Coty, Inc., Hoyu Co., Ltd, John Paul Mitchell Systems, CHANEL, Kao Corporation, and others.
Asia-Pacific is the fastest growing region with the highest CAGR in the forecasted period (2024-2031.
By product, hair gels segment will hold the maximum share in the hair styling products market with the highest revenue in 2031.
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