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The hair loss treatment products market is estimated to grow by USD 2.52 billion at a CAGR of 4.96% between 2023 and 2028. The market is experiencing momentum due to escalating consumer concerns regarding hair-related issues. Innovative advancements in product development and expansions in product portfolios are leading to premiumization, appealing strongly to consumers who seek reliable and effective solutions. Additionally, heightened awareness about hair care is contributing to increased demand for hair products, driving substantial growth in the market as individuals prioritize addressing these specific concerns. This trend underscores a shift towards more personalized and targeted solutions in the hair care sector, where products are not only functional but also cater to the evolving needs and preferences of consumers. As a result, manufacturers are increasingly focusing on research and development to meet these demands, thereby shaping the competitive landscape of the market.
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By Product Type
The market share growth by the vitamins and supplements segment will be significant during the forecast period. The adoption of vitamins and supplements in the market is high due to factors such as rising awareness and consumption of these hair care products and the increasing demand from developing countries.
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The vitamins and supplements segment was valued at USD 3.28 billion in 2018. Vitamins and supplements are great for the overall health of the hair and boost hair growth significantly. Vitamins fight frizz, tame flyaways, and protect against heat damage caused by styling tools. Meanwhile, supplements such as iron, biotin, zinc, selenium, and folic acid improve hair health and growth. Such factors are driving the growth of the vitamins and supplements segment in the market during the forecast period.
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APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Countries such as China, Japan, and India are the major revenue contributors in APAC. This is due to the changing climate in various regions of APAC, which is an environmental factor causing people to suffer from hair damage and hair loss-related issues. Major manufacturers such as Unilever PLC and L'Oreal SA have been introducing innovative and enhanced hair loss treatment products every year, which are affordable and easily available in all supermarkets and hypermarkets in developed as well as developing countries. Moreover, the growing trend of online shopping is contributing to the growth of the market in APAC. Hair loss treatment products are often complemented by hair wigs and extensions, providing both medical and cosmetic solutions for individuals experiencing hair thinning or loss. In developing markets, e-commerce companies offer discounts on almost every product to increase the volume of sales of personal care products, including hair loss treatment products.
The market encompasses a wide range of offerings designed to address various types of hair loss, including hormonal imbalance-related baldness, androgenetic alopecia, alopecia areata, and chemotherapy-induced hair loss. Factors contributing to the growth of this market include stress, environmental pollution, major diseases, aging, and lifestyle. Hormonal imbalance, particularly in males and females, is a significant cause of hair loss. Medications, shampoos, conditioners, serums, and hair care products are the primary hair loss treatment product categories. TV commercials have played a significant role in emphasizing the importance of addressing hair loss, driving demand for these products. Stress level and lifestyle choices also impact hair health, making stress management and self-care essential. Cosmetic clinics are increasingly recommending hair fall control products from Plenty Natural to effectively address male hair loss and promote healthier hair growth. Oral supplements, laser therapy, scalp injections, and hair transplant surgeries are other popular hair loss treatment options. Male and female hair loss, as well as baldness, are common concerns addressed by these treatments. Aging and major diseases, such as alopecia areata, also contribute to the market's growth. The dermatology industry plays a crucial role in diagnosing and treating hair loss conditions, further bolstering market demand.
The market experiences notable growth due to escalating hair-related concerns among consumers. This surge is particularly evident among Millennials, attributed to shifting lifestyles, hormonal imbalances, and heightened stress levels, notably among working women. This demographic tends to invest significantly in hair care products.
Furthermore, the market sees a boost from the availability and affordability of various hair care products, including shampoos, conditioners, oils, and mousses, facilitated by the rise of online distribution channels. Additionally, organizations like the American Academy of Dermatology and the National Alopecia Areata Foundation contribute to market growth by raising awareness and offering solutions for hair regeneration. These factors are poised to propel the global hair care products market forward during the forecast period.
The use of social media marketing is one of the emerging market trends. Social media plays a key role in raising awareness of the availability of hair care products such as shampoos and conditioners, as well as vitamins and supplements. Consumer engagement with social networking and interest in blogging has led to sellers using social media for sales promotion. Facebook, Twitter, Instagram, and YouTube are some prominent social media platforms for product promotion.
The increased penetration of the internet, along with the growth of the e-commerce segment, has increased the demand and awareness of the wide range of hair products available in the market. For example, worldwide, the total number of active users of social networks reached 7 billion in 2022, which is about 62% of the world's population and continues to grow every day. The growing influence of social media is expected to increase product awareness, including products related to hair loss, which will drive market revenue during the forecast period.
The availability of counterfeit products is a major challenge impeding growth. The growth outlook of the hair loss products market and growing demand for hair care products are driving the fake hair loss products market. Counterfeit products are made from low-quality raw materials and can damage the hair. The increasing spread of e-commerce in different geographies encourages the sale of fake products. It is difficult for customers to distinguish between genuine and fake products because they look so similar. Due to the low price, fake products are in high demand.
The growing number of fake products is adversely affecting the sales and pricing strategies of genuine Companies operating in the global hair loss products market. To face such challenges, global players are forced to price their products at low prices, which reduces their profit margins and estimates the sales share in the global hair loss products market. Advertisements and promotions from genuine sellers help attract customers and ensure brand loyalty and prevent users from switching to fake products. However, such promotional activities incur huge expenses and further reduce the profit margins of sellers. Thus, the low price of such products is a major challenge for the Companies of branded hair care products, which in turn may hamper the growth of the global market during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
L'Oreal SA - The company's key offerings include?hair loss treatments.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Hair loss is a common concern affecting millions worldwide due to various reasons such as hormone imbalance, androgenetic alopecia, baldness, stress, environmental pollution, illnesses, and aging. The market for hair loss treatment products has witnessed significant growth in recent years, driven by the increasing prevalence of hair loss and the availability of advanced treatment options. Medication, shampoos, conditioners, serums, hair care products, hair gain supplements, and biotin, vitamins, minerals, and amino acids are some of the popular hair loss treatment products.
Furthermore, TV commercials have played a major role in emphasizing the importance of addressing hair loss, while internal factors such as hormonal imbalance, major diseases, and lifestyle choices also contribute to the market's growth. Dermatology clinics and cosmetic salons offer various treatments like hair loss transplants, laser therapy, scalp reduction, and alopecia areata to cater to the growing demand. External factors like pollution, dust, dry weather, wet weather, desalinated water, and harsh weather also impact hair health and fuel the market's growth. Minoxidil, a common hair loss treatment, has gained popularity due to its effectiveness. The Hair Loss Association emphasizes the importance of early intervention and proper treatment to prevent further hair loss and promote natural hair growth. Overall, the market is expected to continue its robust growth in the coming years.
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Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.96% |
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Market growth 2024-2028 |
USD 2.52 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.64 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
China, US, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Church and Dwight Co. Inc., Cipla Inc., Costco Wholesale Corp., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., Firma VicNic, Johnson and Johnson Services Inc., Lexington International LLC, LOreal SA, Natura and Co Holding SA, Pierre Fabre SA, Shiseido Co. Ltd., Sun Pharmaceutical Industries Ltd., TAISHO PHARMACEUTICAL HOLDINGS CO. LTD., The Estee Lauder Companies Inc., The Himalaya Drug Co., The Procter and Gamble Co., Unilever PLC, Vita Cos Med Klett Loch GmbH, and Vitabiotics Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Market Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Gender
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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