Report Ocean introduces a fresh report examining the “India Hair Care Products Market” encompassing its size, share, growth, industry trends, and forecast up to 2030. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
The hair care products market in India was valued at INR 224.76 Billion in 2018 and is expected to reach INR 384.19 Billion by 2024, expanding at a compounded annual growth rate (CAGR) of ~9.35% during the forecast period.
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Hair care has become an integral part of the average Indian’s beauty regime in recent years, thanks to access to international beauty trends. This has led to the rapid evolution of the hair care market in India.
Increasing pollution levels have raised problems like hair fall, dandruff, and premature greying of hair. Therefore, besides using essential hair care products like shampoo, hair oil, and conditioner, people are spending on revitalizing serum, medicinal oil, and other such products to address hair-related problems.
The hair care market is segmented into hair oils, shampoo, hair colorants, hair styling products, and conditioners. As of 2018, the hair oil products segment held the largest share (42%) in terms of revenue, followed by shampoo and hair colorants segments. Hair oil being the most affordable and widely used hair care product in India, comprised the largest market share.
Based on the benefits obtained from the hair care products, the market is segmented into hair nourishment/maintenance, hair problem solving, and hair styling/conditioning products. In 2018, the product segment offering nourishment/maintenance held the largest share (~47%) in terms of revenue. This segment is further categorized into products that cover up grey hair, fights hair fall and dandruff, and repair dry and damaged hair. In 2018, the segment of hair care products for covering up grey hair held the largest market share (~42%) in terms of revenue.
One of the key growth drivers of the market is the increasing hair-related problems faced by Indians due to pollution and work stress. Consumers are demanding hair care products like hair serums, hair nourishing oils, nourishing shampoo, and hair protectants to nourish their hair, besides using primary hair care products like hair oils, shampoos, and conditioners. Social media platforms like Facebook and Instagram have exposed Indians to global hair care trends. Influenced by celebrities, people are increasingly investing in hair styling products like hair wax and hair gel, besides coloring, straightening, or perming of the hair. This is driving the growth of the hair care products market in India.
However, there are also challenges to the growth of the market. The hair care products market in India consists of players who do not adhere to quality standards for the products and services they offer. Also, counterfeit hair care products are available at a lower price than the original ones, thereby attracting price-sensitive Indian consumers. However, fake products fail to live up to the expectations of consumers in terms of quality, hampering their loyalty to the original branded products. Consumers also tend to switch brands if similar products are available at affordable prices. Allergic reactions to certain chemicals, ineffectiveness of a product, and lack of availability are among other reasons that might impel Indians to switch brands. These factors hinder the growth of the market players and pose challenges towards the expansion of the market.
Some of the prominent companies operating in the Indian hair care products market are Bajaj Consumer Care Limited, Dabur India Limited, Emami Limited, Godrej Consumer Products Limited, Hindustan Unilever Limited, Marico Limited, Procter & Gamble Hygiene and Health care Limited, CavinKare Private Limited, L’Oreal India Private Limited, and The Himalaya Drug Company.
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The report addresses the following key questions regarding the India Hair Care Products market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of India Hair Care Products in the market?
- How are regulatory policies and government initiatives impacting the growth of the India Hair Care Products market?
- What is the market share of the top 5 players in the India Hair Care Products market and how is it likely to change in the future?
- What are the latest technologies and innovations in the India Hair Care Products market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the India Hair Care Products market?
- What are the challenges related to the supply chain and logistics that India Hair Care Products market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the India Hair Care Products market?
- What are the potential risks and uncertainties associated with investing in the India Hair Care Products market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of India Hair Care Products market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the India Hair Care Products market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the India Hair Care Products market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate India Hair Care Products business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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