Hair Care segment revenue amounts up to US$12,426.5m in 2021 and is expected to grow annually by 2.55% till 2025, reveals Onevox
Industry: Advertising & Marketing
In global comparison, most revenue is generated in the United States (US$12,426m in 2021). The market size in the U.S, measured by revenue, of the Hair salon industry, is $47.4bn in 2021 and expected to increase 0.9% in 2021. The market has increased faster than the Consumer Goods and Services sector overall and has grown 1.1% per year on average between 2016 and 2021. The Hair salon industry in the U.S increased faster than the economy overall, reveals Onevox.
Miami, FL (PRUnderground) April 9th, 2021
The US haircare market is expected to register a CAGR of 3.2% during the forecast period. Revenue in the segment amounts to US$12,426.5m in 2021. The US haircare market has witnessed several changes over the past decade, with the emergence of various hairstyling, hair regrowth, and hair colorant products. The shampoo segment is expected to maintain its dominance over the market, while the hair colorant and conditioner segments may witness rapid adoption rates over the forecast period.
The Hair Stylist, Juliana Luz, who has more than 10 years of experience in the market explains how important are professionals for the market. “Whether your hair is long or short, straight or curly, there is a good chance that you’ve been to a hairstylist at some point in your life”, says. “Before the hairstylist picked up their scissors, they probably had a conversation with you about what you wanted. The key to being a good hairstylist is not only technical training but strong communication and customer service skills – they have to understand what the client wants and then deliver”, says the expert.
Juliana Luz is from Brazil and has made several courses in her professional career to increase the technics. “The fashion-conscious youth population is constantly aware of various hair care offerings, such as hair styling and colorant products that express individuality. Thus, such consumer habits are driving the market”, explains. According to Juliana, there are a bunch of work possibilities for professional hairstylists. In addition to hairstylist Juliana Luz is a student of hair therapy. “It is as if we were a specialist in the health of the hair and scalp”, says.
“Hairstylists work in a variety of settings, including salons, spas, fashion shoots, and production sets for film, television, and theater. Hairstylist are now facing a huge challenge that is to understand the chemicals in a ton of hair and beauty products”, explains the professional. “The typical responsibilities include washing, cutting, and styling hair, as well as providing advice about hair products. During the pandemic we were responsible for giving some attention and care to the people`s self-esteem”, says.
Rising Demand for Beauty and Personal Care Products
The trend of healthier living to improve the quality of life is increasing end-user preference toward various beauty and personal care products, including skincare, haircare, color cosmetics, oral care, and feminine hygiene. “We are responsible for the increasing demand for these products for sure. We are there daily explaining how important is to care about health and beauty. In the end, we are teaching people to love their selves no matter what”, says Juliana Luz.
The industry revenue is determined by expenditure on discretionary purchases, such as hair treatments and products. When per capita disposable income rises, consumers are more likely to visit a hair salon, thereby increasing industry revenue. Per capita disposable income is expected to increase in 2021, representing a potential opportunity for the industry.
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