"Hair is the crown for a person. Does
king or queen has enough material for their crown? Hair care market provides wide
varieties as per different crown!" -Bonafide Research.
Currently, hair is considering the integral
part of one's personality as it likes the crown for a queen or king. Personality
includes how one looks, which is being important for today's individual. There
are so many varieties available in the hair care market for different needs of
different persons.
With the common desire to
look fabulous, all human being have endless wish to have smooth, silky and
shiny hair which enhanced their looks and make them different from others.
These wishes create the good opportunities for hair care market which having products
for hair care such as hair oil, shampoo, hair colour and hair styling products
with the wide range of differentiating products as per individual’s need. Furthermore,
the never-ending obsession among the youth to look stylish and beautiful is
impacting the demand for hair care products and this demand is expected to boost
up in the future.
According the report on 'India Hair Care Market Outlook, 2023'
published by Bonafide Research, India overall market for hair care products is
anticipated to reach more than Rs. 19,000 crores at the end of forecast period.
It has grown with more than 10% CAGR in value terms during review period
starting from 2011-12 to 2016-17. Market is made of daily hair care products
and hair styling products. Among them every products have enough variety for
instance taking one brand such as L’Oreal Paris has more than 10 variant in
shampoo segment, more than 2 in serum segment, more than 2 in hair colour with
wide range of colour variant and so on. With population more than 130 crores,
India is seen as wide market for hair care products as emerging trend of
urbanisation feels in the country. Marketers are well aware about the different
needs as large population consider and offer products as per particular need.
Variation is to be like; shampoo for long hair, for anti-dandruff, for smooth
and shiny, etc. Products such as hair oil and shampoo are majorly used by urban
and as well as rural people, but especially products such as hair colour, hair
gel, serum and other styling products have still dominance by the urban area. Furthermore,
personal grooming is considered important by men, market of hair care gain the
growth as hair care for men is not in the scenario previously. As seen above
hair is considering as crown, men and women both have extra consideration for
hair care than previous.
The things are changing
now, as said earlier hair care has done only in a traditional way. But, the
today's people are showing concern about use of cosmetic for hair care
especially millennial that are ready to experiment with their looks. As ratio
of youth are more in India, the young generation shows the interest of products
such as branded hair oil, branded shampoo, hair colour, serum, hair gel and
other hair styling products. Among youngsters, number of college going students
has increased than previous, which drive the use of such products. Also, the
entry of herbal products drive the market as consumer are demanding the
products which are made from natural ingredients and have less harmful effect
on health. Another driver is sachet packaging, where products of premium brands
have also presence in sachet form to reach to the segments which are lower income
group.
In addition to that, the
different brands of same companies are present targeting different segment, for
example HUL's Clinic Plus is for price sensitive consumer with the highest
market share of shampoo market, its Dove is for premium segment which give some
extra benefits with high price which is contradiction from Clinic Plus. In hair
colour, there are not much variation in products, but still existing brands adopt
the product proliferation technique to gain the benefit of differentiation and
put their brand on consumer's perceptual map. Quality of products which are
something to be considered most for hair care which is basic primitive to buy
the product. As king or queen is not ready to compromise with the quality of
his or her crown, person is not ready to use less qualitative products,
although price is low.
Report
Link: https://www.bonafideresearch.com/product/180510071/India-Hair-Care-Market-Outlook-2023
Major
Companies
Major companies that operate into the hair
oil, shampoo, hair colour, serum and other hair styling product market in India
are Hindustan Unilever Limited, CavinKare Private Limited, Marico Limited, J.K.
Helene Curtis Limited, Godrej
Consumer Products Limited, Procter & Gamble Home Products Private Limited,
L'Oreal India Private Limited, Bajaj Corp Limited, Ban Labs Private Limited, Hygienic
Research Institute Private Limited, Emami Limited, The Himalaya Drug Company, Dabur
India Limited, Patanjali Ayurved Limited.
Report: India Hair Care Market Outlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast
Year: 2022-23
Pages: 150, Figures: 46 Tables: 42
CONTACT
US
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing Manager
Telephone: +91-265-6551309/ +91-7878231309
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