South America Hair Loss Treatment Products market is projected to grow at a CAGR of 3.8% during the forecast period (2020 - 2025).
- Increased hair loss and scalp problems due to changing lifestyles and exposure to the environment have primarily driven the professional hair care products market growth across the region.
- Natural ingredients and organic formulations are witnessing high demand in the market, which is driving key manufacturers to launch products with natural/clean product labels.
- However, strict regulations, even on manufacturing processes and practices, have a dampening effect on product differentiation with a wide variety of health claims. Moreover, the increase in regulatory oversight, amid the increasing incidences of mislabeling, especially with the end products, has exerted undue pressure on the manufacturers.
Key Market Trends
Increase in Hair-Fall Related Problems
Hair fall is one of the major problems among the consumers today, it is caused by several factors, including diseases, air pollution, water pollution, physical stress, hormonal changes, and unhealthy eating habits. Thus, consumers are highly inclined towards products which prevent hair loss and resolve other scalp related problems by addressing scalp health and rebalancing the life cycle of the hair. Further, other problems like dandruff and scalp irritation are a combination of genetic factors and environmental factors such as choice of shampoo and hair styling preferences. These problems are very prevalent these days among the consumers due to sedentary lifestyles and lack of awareness regarding the selection of the right products.
Brazil Holds a Significant Share
Changing fashion trends and the rise in awareness of the availability of new, more effective, and safer hair loss treatment products have led to a significant increase in the use of these products. The demand for new and innovative hair loss treatment products and consumers’ willingness to pay more for these innovative products is increasing. This is encouraging manufacturers to launch advanced hair loss treatment products in the country. There has been an increase in the demand for natural and organic treatment products, which encourages consumers to spend more on organic products, such as shampoos, conditioners, hair oil, serums, etc. owing to benefits associated with it. This change in the consumer’s preference will lead to high demand for hair care products that are organic in nature.
South America hair loss treatment products market is fragmented and the major players are The Procter & Gamble Company, L'Oreal SA, Unilever PLC, Johnson & Johnson, and Natura &Co. Companies are heavily investing in R&D and marketing, in order to strengthen their market share. In addition, key players are focussing on online distribution channels for marketing and branding of their products, in order to expand their geographic reach and customer base. Companies are using digital and social media advertisements to spread awareness regarding new product launches in the market.
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