Scalp care products such as shampoos, conditioners, hair oils and serums provide nourishment and hydration to the scalp and hair. These products aid in maintaining healthy and dandruff-free scalp while preventing hair breakage and hair loss. Growing hair and beauty consciousness coupled with rising awareness about scalp health issues like dandruff, dryness and hair fall among consumers is driving the demand for scalp care products.
The global scalp care market is estimated to be valued at US$ 12.84 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The high opportunity of relief from hairfall concerns is fueling the growth of the scalp care market. Hair fall has become a major concern for both men and women across all age groups. The hectic lifestyles, pollution, use of styling products and limited nurturing of scalp are some of the leading causes of excessive hair fall. Scalp care products ranging from anti-hair fall shampoos to nourishing hair oils and serums help in promoting hair growth by stimulating follicles and reducing hair fall concerns. They replenish moisture, treat dandruff and soothe scalp irritation which are identified as some of the major causes of premature hair loss. This in turn is expected to drive the demand for specialized scalp care products catering hair fall prevention in the foreseeable future.
Porter's Analysis
Threat of new entrants: The scalp care market requires high initial investment for R&D and production facilities. Thus, threat of new entrants is moderate.
Bargaining power of buyers: The buying power is low-moderate as there are numerous brands offering similar scalp care products.
Bargaining power of suppliers: Scalp care products require common ingredients that are easily available. Hence, bargaining power of suppliers is low.
Threat of new substitutes: Substitutes like hair oils provide competition but scalp care products are targeted for specific scalp issues. Threat is low.
Competitive rivalry: The scalp care market sees intense competition due to presence of global and local brands.
SWOT Analysis
Strength: Wide product portfolio and brand recognition of key players. Growing hair and scalp issue awareness boosts market.
Weakness: High cost of premium products limits sales. Lack of knowledge on specific hair/scalp problems in rural areas.
Opportunity: Untapped markets in developing nations offer scope. Rising e-commerce penetration aids urban, rural reach.
Threats: Stringent regulations on ingredients and labeling. Economic slowdowns may impact consumer spending.
Key Takeaways
The global scalp care market size is expected to witness high growth during the forecast period of 2023-2030. The global scalp care market is estimated to be valued at US$ 12.84 Bn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.
North America currently dominates the scalp care market with highest market share. Growing hair and beauty consciousness among women is a key factor driving market growth in the region. Asia Pacific is projected to be the fastest growing scalp care market during the forecast period. Improving lifestyles and increasing spending on personal care in major economies such as China and India offer abundant opportunities. Rising sale of premium hair care products online boosts the Asia Pacific scalp care market.
Key players operating in the scalp care market are Illumina, Inc., Eurofins Scientific, PerkinElmer, Inc., F. Hoffmann-La Roche AG, Natera, Inc., Yourgene Health Plc., Laboratory Corporation of America Holdings (LabCorp), BGI Group, and Quest Diagnostics Incorporated. These companies develop new products through extensive R&D and maintain strong brand presence through strategic marketing initiatives.
Get more insights on this topic: https://www.trendingwebwire.com/scalp-care-market-size-and-opportunity-analysis/
Explore more information, Please visit: https://wotpost.com/in-sync-with-life-exploring-the-promise-of-modern-cardiac-assist-advancements/
