Europe Hair Care Market to Grow at a Formidable CAGR until 2025
Growing trend of hair colouring is expected to drive the
growth of Europe hair care market
According
to TechSci Research report, “Europe
Hair Care Market, By Type (Hair Spray, Conditioner, Shampoo, Hair Oil,
Others), By Distribution Channel (Modern Trade, General Store, Specialty
Stores, Online Sales Channel, Others), By Country, Competition, Forecast &
Opportunities, 2025”, Europe hair care market is expected to witness a formidable
CAGR over the forecast period. Europe is considered as one of the greatest
fashion hubs in the world. Rise in consciousness regarding appearance among all
the age groups is one of
the major factors accounting for the growth of Europe hair care market.
Moreover, high spending on personal care products is expected to bode well for
the growth of Europe hair care market through the forecast period. In addition
to this, increasing inclination towards self-grooming, is positively
influencing the growth of Europe hair care market. Also, the manufacturers are
focusing more on effective marketing strategies such as attractive
advertisement is making headway for the growth of Europe hair care market.
Along with this, rise in disposable income is expected to positively contribute
to the market growth in the next five years. However, there are some factors
that might act as major impediments to the growth of Europe hair care which including
high cost involved in the manufacturing of products.
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Europe
hair care market can be segmented based on type, distribution channel, company,
and region. Considering the distribution channel, the market is fragmented into
modern trade, general store, specialty stores, online sales channel, and others.
Here, the modern trade segment held the significant share of the market until
2019, as it offers a large number of products under a single roof because of
which the customers can physically check the products and all details by their
own. Additionally, they offer huge discount on bulk purchases, which is
expected to propel the market growth in the year to come. However, the online
sales channel is projected to register high growth during the forecast period.
This high growth can be attributed to availability of good discounts on
numerous products. Moreover, variety of product are available for the customers
to check at the same time, which is further expected to fuel the growth of the
online sales segment during the next five years. Additionally, consumers lack
time to visit physical stores to purchase products owing to their hectic
lifestyles, which is propelling the segmental growth. Moreover, presence of
additional advantage of free home delivery is further anticipated to aid the
segmental growth in the upcoming years.
Shiseido Company, Limited, Johnson &
Johnson Services, Inc., Unilever, Amway, Oriflame Cosmetics AG, Procter &
Gamble Co., L'Oreal SA, Revlon Inc., Kao Corporation, Beiersdorf AG, are
among others are the leading players operating in Europe hair care market. The
players are adopting several growth strategies to enhance the market scenario
of hair care. Other competitive strategies include new product launches;
mergers & acquisitions; agreements, partnerships, and collaborations; and
expansions to diverse their product portfolio in order to strengthen their
market position.
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“Europe hair care market is forecast to register substantial CAGR until
2025 on account of launch of new and innovative hair care products by the major
market manufacturers in the region. Furthermore, increased consumer disposable
income is further expected to boost the market growth for hair care over the
coming years. In addition to this, improved living standards of the population,
is further aiding the market growth.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Europe Hair Care Market, By Type (Hair Spray,
Conditioner, Shampoo, Hair Oil, Others), By Distribution Channel (Modern Trade,
General Store, Specialty Stores, Online Sales Channel, Others), By Country,
Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Europe
hair care market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Europe hair care market.
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