The South America Hair Styling Products market is expected to reach USD 769 million by 2023, witnessing a healthy CAGR during the forecast period. Argentina is the fastest growing Hair Styling Products market in South America. South America hair styling products surpassed a volume consumption of 132 million units in 2017. Increased consumer spending on beauty products, expanding retail channel and climatic condition demanding hair styling products have driven the market.
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Some of the major players of the market are:
L`Oreal S.A., Unilever Plc., Procter & Gamble Co., Avon Products, Inc., Henkel Ag & Co Kgaa, amongst others.
Brazil the Largest Market
Geographical hot and humid climate in Brazil which led Brazilians to bath 2-3 times a day requires a need for hair styling products. Increased demand for men grooming products has fueled the hair styling products market. Brazilians per capita spending on beauty products is high which accelerated the premium hair spray sale. Brazilian women are the largest consumer of hair styling products owing to fashion-conscious consumers. Brazil remains the largest market for hair styling products.
Chile is the second fastest growing region following Argentina which is largely driven by improving consumer spending on body care products. The retail market spends of the Chilean population on body care products was 12 USD in 2012 which reduced to USD 10.5 in 2016, which is expected to regain its growth by 2020 reaching USD 12.3. Argentina is expected to reach half of the Brazilian hair styling products volume sale by 2023.
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Hair Spray is the Fastest Growing Segment
Hairspray market holds around 27% of the market which is witnessing a strong volume and value sales. South Americans hair blends with many hair types and is quite durable. The wavy, curly and straight Brazilian hairs have a thick and coarse texture which can withstand the styling without wearing out. Increased demand for hair styling among women has strongly driven the market. Hair Mousse is another fastest growing segment which is expected to reach USD 113 million by 2023. Increased demand for personalized and natural hair care products in Brazil has fueled the hair gel and creams market.
May 2017 – Japanese cosmetics giant Kos launched its hair care brand Stephen Knoll New York (SKNY) which includes 15 products in Brazil. Kos is Japanese third largest cosmetic brand with an annual sales of USD 2 billion in 2016. Kos has one of the most modern R&D centers globally which is actively looking for active ingredients for its products.
The South America Hair Styling Products market is very competitive with many domestic and international brands competing for market share. Well established presence of multinational brands is focusing on product innovation while new entrants are targeting quality and high-performance products.
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Table of Contents:
2 Hair Styling Products Market Research Methodology
3 Executive Summary
4 Hair Styling Products Market Dynamics
5 Hair Styling Products Market Segmentation
6 Competitive Landscape
7 Hair Styling Products Market Opportunities And Future Trends
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