Asia-Pacific Shampoo market is projected to grow at a CAGR of 4.23% during the forecast period 2020 - 2025.
- Growing cases of hair loss and hair damage among the population have also driven the demand for shampoo containing natural ingredients.
- Increasing internet penetration and push of e-commerce companies to attract consumers is driving the sales from e-commerce, while sales from physical retail channels continue to dominate the market.
- Increasing product awareness in rural and semi-rural regions is further pushing the market penetration with companies looking forward to expanding in new regions with products offered at small volumes at low costs.
Key Market Trends
Growing Demand for Organic Hair Care Products
The shampoo is the most innovative category of the overall haircare market. Herbal formulas such as the use of herbs and flowers in shampoo that have potent effects are in high demand. Besides, natural ingredients and essential oil in shampoo have performed well in Asia-Pacific. Furthermore, companies are aggressively investing in R&D to access the regional natural hair care market. The demand for organic hair care products in the region is expected to increase at a substantial rate. Moreover, the growing personal care industry is expected to boost the market in the Asia-Pacific region.
India is the Fastest Growing Country in Haircare Market
The India haircare market is projected to record the fastest growth rates in the Asia-Pacific region. Changing consumer dynamics, coupled with increasing product awareness, has been identified as the major driver of the market. These changes are majorly due to the high millennial population, migration towards cities, and rising women employment. This migration to cities has directly impacted the market of traditional hair care products. Meanwhile, the existing population of the cities is the reason for the uptick in sales from specialty stores, e-commerce websites, and particularly salons, which in turn boosting the hair conditioner market in the country.
Asia-Pacific shampoo market is highly competitive with multinational brands occupying major chunk in the market. However, domestic brands are increasingly growing their presence in botanical and natural product categories. Acquisition and new product innovation in shampoos' focus on active ingredients is the main strategy adopted by players. Some of the major players in the market studied are Procter & Gamble Co., L'Oreal S.A., Johnson & Johnson Consumer Inc., Unilever among others.
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