Europe hair styling products market is anticipated to witness a CAGR of 2.42% during the forecast period (2020 - 2025).
- Changing lifestyle, rising disposable income, product innovations, and marketing activities are some of the factors promoting the market growth of hair styling products in the region.
- Natural ingredients and organic formulations are witnessing high demand in the market, compelling key manufacturers to launch hair-styling products with natural/clean product labels.
- The hair styling products have gained popularity amongst the young adults who desire to look presentable at their workplaces, and at other occasions.
- Also, the dominance of the global players in the market can be witnessed; the domestic players have been able to do significantly well in the market due to their premium offerings.
Key Market Trends
Demand for Organic/Natural Products is Rising Rapidly
The high demand for natural ingredients has been quite evident in the European market, which has led to the majority of companies launching products with nature-inspired ingredients, especially ones with plant-inspired and premium botanical ingredients. The trend for natural ingredients is quite strong in hair styling products with many companies launching products focused on active botanical ingredients to attract the consumer.
Apart from nature-based ingredients, the use of preservatives is of growing concern. The potential health impact of artificial preservatives, such as benzoates is triggering the demand for natural preservatives. Thus, the demand for natural-ingredient-based hair gels is witnessing healthy growth from both developed and emerging countries of the region. For instance, Green People, which produce organic products, introduced a styling gel for men that is nutrient-packed and is of organic origin.
Increasing Demand for Hair Colorants is Driving the Market
The market of hair colorants is competitive as the major players are trying to cater to the demands of the consumers in terms of color options, offering safer products for use at the same time. The demand for funky and neon colors is also rising with the exchange of cultures and the spread of fashion across the global regions. The demand for hair colorants to cover the gray hair has been constantly growing in Europe, but the people are still worried regarding the side-effects of using hair colorants and think twice before acting upon the thought of hair coloring. Thus, the manufacturers of hair colorants are offering safer coloring solutions with claims like No-Ammonia to cater to the potential market.
The Europe Hair Styling Products Market is consolidated with the presence of both global and domestic players. A significant population of the region is convinced that their hair styling products are actually harmful to the body, and therefore, should be substituted with completely natural/organic products. This provides a good opportunity for rigorous R&D to mandatorily include natural ingredients in products designed to fix the new age hair and scalp problems which are increasing in frequency across the country caused due to the excessive use of chemical-based products. Moreover, global players that had an upper hand in the market previously, are facing tough competition because of the new product launches by the domestic players that are focused on the current needs of the locals.
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