The hair gel market is projected to register a CAGR of 5.2% during the forecast period (2020 - 2025).
- Increased consciousness regarding hair perfection among the young working population as per the demand of their jobs is primarily driving the market.
- Glossy gels are common due to the neat look rendered by their use. Hard hold gels are common among the youth who try to imitate the trendy hairstyles.
- However, the potential health risks due to the toxic chemicals incorporated in hair gels are hampering the market growth to an extent. To tackle the issue, companies are coming up with better solutions like the use of natural ingredients and also refraining from the use of strong chemicals.
Key Market Trends
Natural Ingredient-based Products are Likely to Foster the Growth of the Market
Increased consumer awareness about the benefits of natural and organic ingredients in hair care products has fueled the demand for active ingredients. The trend for natural ingredients is quite strong in hair care products with many companies launching products focused on active botanical ingredients to attract the consumer. Some hair gels, particularly those that are organic, also offer benefits beyond stronghold and an attractive look. This is because organic hair gels are infused with organic herbs that will soak into both scalp and hair, thereby, providing nutrients necessary for healthy scalp and hair. For instance, brands, like Arata offer natural hair gel, infused with organic flaxseed extracts, vegetable extracts, and flower extracts, among other natural extracts, to avoid damage to hair caused by parabens and chemicals. Apart from nature-based ingredients, the use of preservatives is of growing concern. Thus, the demand for natural-ingredient-based hair gels is witnessing healthy growth from both developed and emerging countries.
North America Recorded Maximum Share Among All Regions
The United States is the largest market for hair gel owing to the high preference of hairstyling coupled with natural hair gel demand. The growing men grooming trend in the country has further accelerated the market. Mexico is the second-largest market in the region. Growing preference for foreign brands among working men and women in the region is demanding a premium hair gel driven market. Moreover, hair gels make up a to the everyday necessities of millennials who make use of them to look presentable and do not want their hair to mess up due to any reason during the working hours.
The hair gel market is competitive in nature. The major players are adopting strategies such as product innovations, expansions, and mergers and acquisitions to sustain in the market. Companies are increasing their investments in research and development (R&D) and marketing activities while expanding their distribution channels to maintain their position in the market. For instance, L’Oreal opened a research and innovation center in South Africa in 2016.
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