The perms and relaxants market is expected to witness a CAGR of 3.3% during the forecast period (2020 - 2025).
- Increased preference for hairstyling, changing lifestyle, urbanization, and marketing and promotional activities are the primary factors fueling the market growth of perms and relaxants. Relaxants dominate the market due to increasing preference among women for a natural hairstyle.
- Reduced spending of African American women on relaxants because of preference for natural hair treatments is the primary factor affecting the market growth negatively.
Key Market Trends
Reintroduction of Perms in Fashion is Likely to Boost the Market
With a major influence of celebrities on the hairstyles, the financially stable population of the developed countries is choosing to go for perms, as their celebrities flaunt permed hair in public events. The fashion industry is dynamic, and the trends keep changing. Therefore, in the amalgamated fashion era, the financially strong people choose to perm their hair and use the products meant for the maintenance of the hairstyle.
South America Dominates Over the Other Regions in the Global Market
South America's hair perms and relaxants market observed a healthy growth, due to the inflating demand for hair perming and relaxing products. The ongoing trends in the fashion world are fascinating the population of the larger economies of the region, and the corresponding population is being readily inclined towards hair perming and relaxing products. The trendy young consumers who adopt various hairstyles appropriate for work are increasingly preferring relaxer-free natural hair. This trend is more dominant among the women population, which are the primary consumers of relaxants.
The declining trend of hairstyling, due to consumer awareness of the harmful effects of chemicals, is the primary factor that has negatively affected the market growth to an extent. However, this is the right platform for the manufacturers to develop remedies to cater to the demands for safer products, as put forward by the hesitant customers. Moreover, the major players are opting to indulge in geographical expansions and partnerships in order to broaden their consumer base and strengthen their distribution networks.
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