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Report Overview
The hair growth products market value reached around USD 10743.20 Million in 2023. The rising prevalence of hair loss conditions such as androgenetic alopecia and telogen effluvium have heightened the demand for effective hair treatments as individuals seek to improve their appearance. Due to this, the industry is expected to grow at a CAGR of 8.00% during the forecast period of 2024-2032 to attain a value of USD 21475.71 Million by 2032. Additionally, changing lifestyles due to increased stress, poor nutrition, and exposure to environmental pollutants are contributing to hair loss, further fuelling market demand.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per USA Census Data of 2021, cosmetics, including hair care products, generated approximately USD 43 billion in revenue in the United States, indicating a robust market presence and consumer interest in personal care products.
- Additionally, the National Alopecia Areata Foundation reports that nearly 160 million people worldwide suffer from alopecia areata, which significantly drives hair growth products demand as affected individuals seek effective solutions to combat hair loss.
- Furthermore, hair loss is a concern for 85% of men and 33% of women, primarily due to genetic, hormonal, and lifestyle factors. This widespread concern prompts many consumers to actively seek out effective hair treatments, thereby propelling the market forward.
Hair Growth Products Market Trends
The increasing impact of social media is a key trend in the market as it is fuelling the demand for hair growth products. Platforms such as Instagram, TikTok, and YouTube have emerged as vital marketing avenues, where influencers endorse products and share their success stories, thereby enhancing consumer interest. A study has shown that 67% of millennials are swayed by social media recommendations when buying personal care items, including hair growth treatments. Additionally, campaigns led by influencers for hair care brands like Kerastase, Olaplex, Loreal, Nutrafol, and Vegamour have resulted in a significant increase in online sales, further propelling market growth. This trend highlights the importance of digital marketing strategies to foster brand loyalty and increase visibility within a competitive marketplace.
Moreover, the demand for personalised hair care solutions is on the rise, with brands like Prose leading the way by offering custom formulations based on individual hair types and concerns. A survey revealed that 74% of consumers prefer customised products to avoid adverse effects associated with generic solutions. This trend is supported by advancements in technology that enable brands to tailour products effectively, thus improving consumer satisfaction and loyalty.
Hair Growth Products Market Report Snapshots
Hair Growth Products Market Size
Hair Growth Products Market Growth
Hair Growth Products Market Trends
Hair Growth Products Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 10743.20 Million.
The market is assessed to grow at a CAGR of 8.00% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 21475.71 Million by 2032.
The market is categorised according to the product type, which includes shampoos and conditioners, serums, finasteride, minoxidil, oils, supplements and vitamins, injectables, and devices.
The market key players are Venus Concept, REVIAN, Inc., Vegamour Inc., Johnson & Johnson Consumer Inc., and Philip Kingsley Products Ltd., among others.
Based on the gender, the market is divided into men and women.
Based on the age group, the market is divided into under 35, 35 to 50, and above 50.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124