Professional Hair Care Market Expected to Reach $57.5 Billion by 2033

According to a new report published by Allied Market Research, titled, “professional hair care market" was valued at $34.8 billion in 2023, and is projected to reach $57.5 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.

Professional hair care products are grooming products that are used to apply on hair to get a desired hairstyle and are also used to handle hair problems including hair fall, frizzy hair, split ends, dandruff, and dry or itchy scalp. The professional hair care products include shampoo, hair wax, hair colorants, straightening & perming products, hair gel, hair conditioner, and others. Application of these professional hair care products nourishes the hair & scalp and gives an aesthetic hairstyle and look. Moreover, these grooming products including hair straightening & perming products, hair colorants, and styling agents are gaining popularity among young as well as aged consumers.

Over the past couple of decades, there has been a rise in the concern over hair protection, hair fall, hair density, as well as the quality of hair that needs to be maintained from time to time among the customers. This triggers the demand for various professional hair care products such as shampoo, hair color, and others. An increase in celebrity influence and persistent self-consciousness about facial appearance & look are some of the key factors that boost the demand for professional hair care products including hair color, hair wax, hair straightener, and others. An increase in self-awareness toward following trending fashion among youngsters is expected to drive profits in the professional hair care market. Furthermore, the availability of these professional hair care products in the market through different distribution channels including online stores, salons, and others also boosts the professional hair care market growth.

The professional hair care market is segmented on the basis of product type, distribution channel, and region. By product type, the market is classified into hair coloring, shampoos, styling agents, and straightening & perming products. By distribution channel, the market is divided into hypermarkets/retail chains, e-commerce, specialty stores, pharmacies, salons, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The hair coloring segment in the professional hair care market is anticipated to be the fastest-growing segment during the forecast period. This is attributable to the rise in social media including Instagram as well as an increase in celebrity influence has contributed to a rise in awareness about fashion trends related to hair color such as gray & pastel color specifically among young consumers. In addition, golden Ombore hair color, rose blonde hair color, gray & pastel hair color, and nude hair color are some of the best hair color trends at present. Moreover, an increase in several hair salons and spas is also contributing to fueling the growth of the hair coloring segment in terms of value sales.

The E-commerce segment in the professional hair care market is anticipated to be the fastest-growing segment during the forecast period. This is due to easy accessibility, heavy discounts, and offers on cosmetics products including professional hair care. This boosts the adoption of e-commerce in the professional hair care market and becomes a popular medium for the purchase of professional hair care products. Moreover, easy availability of different types of professional hair care products along with the information about the ingredients used in hair care products such as hair wax, hair color, and others coupled with tips on how to use these products, time-saving features, and the facility of home delivery contribute to the growth of online sales.

The key players operating in the professional hair care industry are L'Oréal Group, Henkel AG & Co., Procter & Gamble Co., Unilever Corporation, Kao Corporation, Aveda Corporation (Estée Lauder) , Avon Products Inc., Revlon Inc., Tony & Guy, and Shiseido Company, Limited.

Key findings of the study

• By product type, the shampoo segment accounted for the highest market share in 2023.
• By distribution channel, the salon segment occupied the maximum share in 2023.
• By region, North America accounted for about 35.46% in 2023 of the market.