The global hair grooming products market, as of 2023, is appraised at approximately US$ 23.1 billion, and projections indicate a robust expansion, targeting a revenue of US$ 37.2 billion by the conclusion of 2033. This growth trajectory signifies a steady Compound Annual Growth Rate (CAGR) of 4.9% over the forthcoming decade.
The market landscape is primarily dominated by well-established hair grooming product companies, posing a formidable challenge for new entrants seeking to establish a foothold. To successfully penetrate this competitive market, emerging brands are strategically focusing on introducing innovative products and securing substantial capital for business expansion. These resources are essential for conducting effective marketing campaigns that can rival those of established industry players.
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Major hair grooming product manufacturers are focusing on launching new products to enhance their sales potential and bolster their stance in the global landscape across the forecast period.
- Nick Stenson Beauty, a beauty brand created by renowned beauty expert and celebrity stylist Nick Stenson on November 2, 2022, announced that it would be launching its new haircare range exclusively at Ulta Beauty on November 27, 2022.
Hair grooming brands are launching innovative marketing campaigns to promote their products and drive the sales funnel.
- In November 2022, Schwarzkopf, a leading name in the haircare industry launched a new campaign via Connecting Plots to promote its sustainable hair care products and improve awareness for eco-friendly products. The campaign considers research by the University of Leeds which depicted that people are unwilling to buy green and eco-friendly products as they have doubts over their effectiveness and performance.
Key Segments of Hair Grooming Products Industry Research:
- By Product :
- Hair Gel
- Hair Oil
- Hair Sprays
- Hair Color
- Styling Creams & Waxes
- Hair Mousse
- By Gender :
- By End Use :
- Salons & Spas
- Fashion Industry
- By Sales Channel :
- Departmental Stores
- Specialty Stores
- Online Channels
- Other Channels
- By Region :
- North America
- Latin America
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Questionnaire answered in the Market outlook Report of Hair Grooming Products include:
- What is the key strategy deployed by large players to maximize Hair Grooming Products Market growth?
- What are the main challenges faced by players in the Hair Grooming Products market Demand?
- With the advent of technological advancement, how will the Hair Grooming Products market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Hair Grooming Products market size?
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