Industry Background:
The hair care commodities come under the group of cosmetics and personal care products. These are used to tidy up the hair and get an artistic hairstyle. Also, the hair fragrance is used for handling different kinds of hair problems like hair fall, frizzy hair, split ends, dry scalp, and oily hair by providing nourishment to the hair & scalp. Hair fragrance help in detangling, hydrating and nourishing the hair, it also complements the hair by giving it a shine and good fragrance that precedes anywhere you go. Due to unawareness of hair fragrances and the fear of their adverse effects on hair it has not got a hold in the market. Instead, using a hair fragrance adds a new shine, makes hair smell great and helps in making the hair look much more expensive and provide a rich look. These hair fragrances are mostly used in salons and are also sold to the consumers for individual use.This growth is primarily driven by Growing Focus of Increasing Population on Physical Appearance
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Acqua Di Parma (Italy), SHOW Beauty (United Kingdom), Dior (France), Mugler (Italy), Chanel (France), Prada (Italy), TOCCA (United States), Guccio Gucci S.p.A. (Italy), Yves Saint Laurent (France), Valentino (Italy), Viktor & Rolf (Netherlands), Philosophy Inc. (United States), PACIFICABEAUTY (United States), Sachajuan (United States) and Frederic Malle (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2023, Kering Beauté, the recently created beauty arm of luxury powerhouse Kering Group, is to acquire 100% of high-end luxury fragrance house Creed.
In October 2022, Elon Musk has become a perfume salesman. Well, quite literal Elon Musk has launched his own perfume line and guess what The fragrance product is called 'Burnt Hair'. Musk took to T .to announce the launch of his perfume lineThe fragmented nature of the market is due to the great number of players present in the market. Market leaders are now focusing on new product innovations and developments due to highly changing customer demands and preferences. Also with the increase in demand from the emerging economies is also driving the demand for the Hair Fragrance market.
Regulatory Insights:
According to Indian Standards 30 cosmetics are listed in Schedule ‘S’ of the Drugs and Cosmetics Rules. Cosmetics Sectional Committee has published two Indian Standards for raw materials/ingredients for use in cosmetics, namely, IS 4707 (Part 1): 2017 Classification for cosmetic raw materials and adjuncts: Part 1 Colorants and 4707 (Part 2): 2017 Classification for cosmetic raw materials and adjuncts: Part 2 List of raw materials generally not recognized as safe for use in cosmetics which are widely used by Central Drugs Standard Control Organization (CDSCO) and Food and Drug Administration’s (FDA). Moreover, IS 4707 (Part 1) is referred to in the Drugs and Cosmetics Rules, 1945 for colorants to be used in cosmetics.
Influencing Trend:
Growing Interest in Youth Regarding the Changing Hair Care Trends, Increase in the Research and Development towards the Modernization of Hair Fragrance so as to Address Hair Related Problems, Rise in Celebrity Endorsements Owing to the Growing Adoption of Professional Hair Care Products in the Fashion Industry and Focus on Development of Customized Hair Fragrance Products
Market Growth Drivers:
Growing Focus of Increasing Population on Physical Appearance, The Increasing Hair Damage and Hair Fall Problems Due to Rising Air Pollution, Growing Awareness among Consumers about Hair Care and Related Products and Changing lifestyles and Standards Fuelled by Rising Disposable Income
Challenges:
High Cost of Premium and Professional Hair Fragrance, Less Rate of Acquaintance with the Availability and Usage of Hair Fragrances in Many Regions and Rising Awareness among Consumers Regarding the Use of Hazardous Chemicals in Hair Products
Restraints:
Adverse Effect on Hair and Scalp with the Use of These Hair Fragrances and Increasing Availability of Artificial Products
Opportunities:
Rising Focus on Price Reduction through New Product Inventions and Increase in the Demand for Hair Fragrance with Natural & Organic Ingredients
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Hair Fragrance Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Hair Fragrance Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Hair Fragrance players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Hair Fragrance Study Sheds Light on
The Hair Fragrance Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Hair Fragrance industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Hair Fragrance industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.