The hair relaxer market is projected to register a CAGR of 1.8% during the forecast period, 2020 - 2025.
- The market is primarily driven by the rising consumer demand for styling hair from curl to straightening. Furthermore, frequent launches of advanced hair relaxer products from the key players are boosting the market growth globally. For instance, in 2019, Sofnfree, a leading haircare brand, launched the new Sofnfree Infusions Salon Relaxer System in Botswana that includes an innovative and custom-made relaxer system for the latest trending hairstyles. In addition, the rising spending power of the people on styling products is further fueling the market growth.
- However, factors such as demand for natural hair and awareness of the harmful effects of chemicals present in relaxers are restraining the hair relaxer market growth, globally.
Key Market Trends
Supermarkets/Hypermarkets to Witness the Fastest Growth
Supermarkets/hypermarkets hold the most significant share in the global market, which is further expanding at a faster pace in countries of Europe, North America, and the Asia-Pacific region. Moreover, supermarkets are applying various mixes of promotional activities to make customers prefer supermarkets. However, the market is likely to face a slow down during the coming years, owing to the price competition among the major market players, growing maturity of products and consolidation of own-label brands by big supermarkets, which are quickly expanding their operations in the region like Europe and North America.
Europe to Dominate the Global Market
Europe has been witnessed to have the fastest growing market in the global market. The volume sale of hair relaxers in the region has been recorded to have a steady growth owing to the rising demand for styling products. Furthermore, the expansion of retail stores in the region has fueled market growth. Also, an increase in the concentration of internet users in the Asia-Pacific has strongly impacted the e-retail market. A variety of brands available at low cost in online retail has attracted customers. The bulk price offered by online retail is further boosting the online market growth. Convenience stores and specialist retailers combined accounts for a significant market share of the distribution channel sales for hair conditioners.
The hair relaxer market is consolidated in nature owing to the presence of a fewer number of regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the market include Softsheen-Carson, Phyto, Avlon Industries Inc., Mizani, and Jotoco Corp., among others.
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