Hair Growth Treatment Product Market Size, Share, Growth, And Industry Analysis By Type (Herb, Medicine, Nutrition Tonic) By Application (Male-pattern Hair Loss, Female-pattern Hair Loss), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Hair Growth Treatment Product Market Report Overview

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The global hair growth treatment product market size was USD 581.5 million in the year 2022 and is expected to reach USD 956.67 million by 2031, exhibiting a CAGR of 5.7% during the forecast period.

Hair growth treatment product are the various kinds of hair care items that support hair development by lessening going bald. These items assist with forestalling diminishing of hair and further develop the general hair development. Going bald is the most widely recognized issue looked by the greater part of individuals all over the planet. The worldwide going bald item market is seeing powerful development, as most would consider to be normal to increment during the conjecture time frame. Hair is the most valuable piece of the body and individuals are extremely worried about it. The items incorporate cleanser, conditioner, oil, serum, and others utilized in hair sustenance and are accessible in various structures like fluid, gel, cream, and salve. Various items are available in the commercial center for various applications relying upon the kind of hair. This incorporates shampoos for dry hair and slick hair, conditioner for harmed scalp and hair fix, and different cleanser for hued hair and wavy hair.

The interest for hair growth treatment product like serums, shampoos, conditioners, and oils to work on the volume or strength is on an increment. The worldwide interest for premium-quality hair hairpieces and expansions is affecting makers to lay out creation offices in the Asian nations. The development in per capita extra cash has expanded optional spending among a few European nations. The presentation of imaginative and separated items and ascend in buyer experience with the assistance of mechanical headways further energizes the market development.

COVID-19 Impact: Conclusion of Stores and Shipment Confusions Amidst Pandemic Hampered the Market Development

The global COVID-19 pandemic has been unprecedented and staggering, with hair growth treatment product market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the hair growth treatment product market growth and demand returning to pre-pandemic levels once the pandemic is over.

The business encountered an adverse consequence during the Coronavirus pandemic. This is ascribed to the closure of shops because of lockdown, support of restricted store inhabitance, and shoppers being wary of getting contaminated by contacting bundling. For example, the information given by Kantar in Walk 2020 reports that hair care has encountered a log jam in its development in 2020. In addition, the deferment and decrease of merchandise shipment because of the public authority making preventative moves likewise decline its deals.

Latest Trends

"Rising Instances of Going bald and the Developing Mindfulness about Private Consideration to Improve the Market Development"

The hair development items industry is being driven by variables, for example, the rising buyer mindfulness about private consideration, rising expectations for everyday comforts, extending style industry, developing notoriety of hair care items among the young, and quick urbanization what's more, the developing instances of going bald because of evolving ways of life, expanding contamination, and expanding commonness of ongoing illnesses that lead to balding over the long haul, are probably going to be central point driving the market in the estimate period. Besides, the arising online business industry is probably going to move the deals of hair development items altogether inferable from appealing limits proposed to buyers and the accommodation factor.

Hair Growth Treatment Product Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Herb, Medicine, Nutrition Tonic. Herb being the leading segment of the market by type analysis.

• By Application Analysis

Based on application, the market can be divided into Male-pattern Hair Loss, Female-pattern Hair Loss. Male-pattern Hair Loss being the leading segment of the market by application analysis.

Driving Factors

"Expanding Hair Related Issues to Drive the Market Growth"

The male populace is logically encountering hair issues, for example, hair turning gray, dandruff, and balding that are probably going to flood the hair care item use. For example, information distributed by the Diary of Clinical and Symptomatic Exploration in October 2018 notices that 60.3% of men matured between 18-50 have hair fall issues, though 17.1% have dandruff issues. Likewise, the maturing populace being more helpless against hair issues than the young age is probably going to flood the interest for the items. For example, the information gave by the Assembled Countries Branch of Financial and Parties, in 2019, the worldwide populace old enough 65 years or more remained at 703 million.

"Expanding Spotlight on Improvement of Natural and Normal Items to Drive the Market Development"

Buyer inclination is moving towards natural and home grown because of expanding mindfulness with respect to the unfavorable impacts of synthetics utilized on wellbeing and the climate, consequently increasing the utilization rate. For example, the hair care items presented by Aveda Corp. are guaranteed natural which is made from regular plant-based fixings, for example, rosemary leaf concentrate and ginseng oil. It additionally kept away from the utilization of harmful synthetic compounds, for example, parabens, sodium lauryl sulfate, and phthalates. Likewise, central participants working in the market logically zeroing in on creating and sending off new items to satisfy shopper need expanded in view of geology, culture, and nationality play had an essential impact in the development of the worldwide business.

Restraining Factors

"Usage of Toxic Chemical to Hamper the Market Growth"

Sulfates, parabens, and phthalates are the significant synthetics utilized for the assembling of shampoos worldwide. Hair care items are utilized to give perfect, sparkly, fun, and smooth locks for hair; be that as it may, these momentary advantages show up with long haul sick impacts going from malignant growth to chemical awkwardness. For example, In January 2021 a report distributed by Skin Specialty Labs which is a hair care items maker in India expresses that, the hair care items contains Surfactants like SLS (sodium lauryl sulfate), SLES (sodium laureth sulfate), and ammonium lauryl sulfate present in cleanser can harm the hair, and parabens can prompt hormonal lopsidedness in female and cause bosom disease Phthalates utilized as a fixing in hair care items increment the ability to spread of the item, for example, in hair serums and hair oils They are endocrine disruptors which implies that they can cause early pubescence in young ladies and lessen sperm include in men. The contribution of such unsafe synthetics in hair care items is hampering the market development.

Hair Growth Treatment Product Market Regional Insights

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North America is expected to encounter a critical presence in the market attributable to the high use made on private consideration, including hair-based items. For example, the information gave by the Buyer notice.Org in July 2020 notices that Americans are assessed to make a use of a huge number of dollars to improve hair, skin, and cleanliness. Besides, the rising development of female business is expected to support utilization as ladies will spend more on hair care items.

Asia Pacific is supposed to hold an essential portion of the overall industry. The nations in this area experience extreme air contamination prompting the customary purifying of hair. For example, the information gave by the Environment and Clean Air Coalition.Org on Air Contamination in Asia and the Pacific 2019 notices that roughly 4 billion individuals are seeing degrees of air contamination that represent a critical gamble to their wellbeing. Asia-Pacific is the quickest developing locale across the globe attributable to the way that there is a high presence of the millennial populace, expanded relocation to urban communities, and the developing number of ladies in the labor force. Because of the relocation of an enormous populace to metropolitan regions, customary hair care items have encountered high development on the lookout.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

"Players"

• Johnson & Johnson (U.S.)
• Merck (U.S.)
• Costco (U.S.)
• Wild Growth (U.S.)
• Nutrafol (U.S.)
• Pureauty Natural (U.S.)
• Grow Gorgeous (U.S.)
• YANAGIYA HAIR TONIC (Japan)
• Aveda (U.S.)
• POLA (Japan)
• STEMM (Spain)
• Body Shop (U.K.)
• Bawang Group (China)
• SHISEIDO (Japan)
• Cipla (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.