According to the latest report by IMARC Group, titled “Hair Growth Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global hair growth products market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
How big is the Hair Growth Products Market?
The global hair growth products market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
Hair Growth Products Market Overview:
Hair growth products encompass a variety of hair care products specifically formulated to stimulate hair growth and prevent hair loss. They comprise serums, oils, shampoos, conditioners, and supplements that provide nourishment and support the growth of healthy hair. These products contain ingredients such as biotin, zinc, iron, collagen, vitamin C, niacin, caffeine, ginseng, and minoxidil. They are manufactured using a combination of synthetic or natural components, along with additional substances like agents, preservatives, surfactants, and emulsifiers. The purpose of hair growth products is to combat hair thinning and enhance overall hair growth by partially enlarging hair follicles and prolonging the hair’s growth phase.
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Hair Growth Products Market Trends:
The hair growth products market is primarily driven by consumer awareness towards personal care. Additionally, the widespread adoption of shampoos and conditioners, known for their overall hair health benefits and hair growth promotion, further fuels market growth. These products address issues such as dryness, oiliness, itchiness, dandruff, and scalp redness, ensuring clean and healthy hair. Furthermore, the introduction of veg keratin products, including hair conditioners, oils, and shampoos made from cruelty-free, chemical-free, and plant-based ingredients, aids in reducing damage and replenishing hair protein, thus driving the market growth. The rising prevalence of stress, anxiety, and concerns about the harmful effects of pollution also contribute to market expansion.
Moreover, the widespread adoption of hair growth products by individuals experiencing hair loss due to hormonal changes, medical conditions, heredity, and aging serves as another growth driver. Additionally, the launch of affordable herbal product variants made with organic ingredients, vegan formulas, and free from ammonia is anticipated to fuel the hair growth products market over the forecasted period.
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