September 07, 2022 05:17 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Sept. 07, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global shampoo market size is expected to gain momentum by reaching USD 39.58 billion by 2028 from USD 30.89 billion in 2021 while exhibiting a CAGR of 3.6% between 2021 to 2028. In its report titled “Shampoo Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 30.09 billion in 2020.
Demand for shampoos is increasing in the market due to increasing pollution, changing lifestyle, and desire of having silky, shiny hair is the prime factor that is driving the hair care market. Further, the availability of different types of hair cleansing products such as dry, dandruff control, herbal is also promoting growth. Also, the demand for hair cleansing products that are specially designed for colored hair is likely to bode well for this market.
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In tough and unprecedented times of the COVID pandemic, demand for hygiene products was increased dramatically. However, the personal care industry was hit badly as the companies retooled in manufacturing sanitizers and other protective equipment that were used by frontline warriors to combat the virus. Thus, the manufacturing of hair care, hair color, and hair styling products was hit badly, and companies reported a drop in their revenue.
However, the consumption of shampoo is expected to revive once the lockdown is completely lifted all over the world.
Shampoo Market Report Scope & Segmentation:
Fortune Business Insights™ lists out all the shampoo market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
What does the Report Provide?
The shampoo market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to contribute to the market growth.
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Increasing Prevalence of Hair Problems to Fuel Market Growth
Problems ranging from hair thinning, sebum secretions to severe hair loss all have been given a fair share of opportunities to come up with effective hair cleansing products. Thus, manufacturers are coming up with custom-made shampoos related to several hair problems, such as cleansers for oily hair and dry hair, those for curly type, and the ones who desire to have voluminous and bouncy hair.
For instance, in 2019, the Journal of ‘Drug Invention Today’ published a questionnaire-based study about the ‘General awareness about seborrheic dermatitis/dandruff among dental students. This survey led to the conclusion that more than 65% of survey respondents experience dandruff problems, wherein 75% of them stated that the cause of dandruff was the change in hormonal levels and stress. However, the majority of participants use anti-dandruff shampoo to combat the issue.
On the other hand, excessive use of hair cleansers affects hair growth. Additionally, awareness about DIY (Do-It-Yourself) products such as the use of amla (Indian gooseberry), reetha (Indian soapberry), egg yolk, and curd for hair cleansing is likely to limit the market growth.
Asia Pacific to Dominate Backed by Increased Spending on Hair Care Products
Asia Pacific is expected to remain at the forefront and hold the highest position market during the forecast period owing to the growing number of millennials as well as Gen X in the countries with increasing spending on basic hair care products. For instance, a report by Japan Cosmetic Industry Association states that, as of 2018 data, nearly 22.7% of shipments are of hair care products in the region. Furthermore, key players are targeting the population with the introduction of low-cost sachets to increase market penetration in the rural area as well. The region’s market stood at 10.54 Billion in 2020.
By product type, the market is bifurcated into medicated and non-medicated. By its form, it is segmented into liquid, solid, and others. Based on it its application, it is divided into household and commercial. On the basis of its distribution channel, it is segmented into hypermarket/supermarket, convenience stores, online stores, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Key Players to Focus on Acquisitions to Strengthen Their Positions
The shampoo market is consolidated by major companies striving to maintain their position by focusing on new launches. For instance, in January 2020, Herbal Essence, hair care brand of Procter & Gamble, brand Herbal Essence came up with its new product line, ‘Potent Aloe Collection.’ This line of hair cleansers comes with a sustainability program. The brand collaborated with TerraCycle to create a recyclable bottle. These bottles are made with 25% beach plastic collected from organizations around the world. Such environment-friendly initiatives will significantly enhance their portfolio of innovative products in the dentistry segment, and such proactive strategies are expected to drive the market in the upcoming years.
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1. How much is the global shampoo market worth?
Answer: Fortune Business Insights says that the global market size was USD 30.09 billion in 2020 and is projected to reach USD 39.58 billion by 2028.
2. What was the value of the market in the Asia Pacific in 2020?
Answer: In 2020, the Asia Pacific market value stood at USD 10.54 billion.
3. At what CAGR is the market projected to grow in the forecast period (2021-2028)?
Answer: Registering a CAGR of 3.6%, the market will exhibit a steady growth rate during the forecast period (2021-2028).
4. Which is the leading segment in the market?
Answer: The liquid segment is expected to lead in this market during the forecast period.
5. What are the key factors driving the market?
Answer: The rising hair-related issues and heightened demand for herbal hair care are major factors driving the market's growth.
6. Who are the major players in this market?
Answer: L’Oreal, Procter & Gamble, Unilever, and Henkel are a few major players in the global market.
7. Which region held the highest share in the market?
Answer: Asia Pacific dominated the market in terms of share in 2020.
8. Which factors are expected to drive the adoption of shampoo?
Answer: Product personalization and 2-in-1 product offering are expected to drive the adoption of shampoo.
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