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Report
Hair Relaxer Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 110 Pages I Mordor Intelligence
The hair relaxer market is projected to register a CAGR of 4.27% during the forecast period (2022-2027).
Due to the COVID-19 pandemic, many parts of the world have observed stringent lockdowns due to which consumer spending and habits took a backseat. Due to restricted movement, salons remained closed for a long period, which impacted the demand for hair relaxers. Consumers focused on home grooming, which again induced the demand for relaxers through various online retail stores.
The market is primarily driven by the rising consumer demand for styling hair, from curling to straightening, much without the use of hair styling tools. Furthermore, frequent launches of advanced hair relaxer products from the key players are boosting the market growth globally. In addition, the rising spending power of people on styling products is further fueling the market growth.
The product innovation accelerated the demand for hair relaxers, and the rising popularity of social media influencers also added to the cause. Millennials are more attracted to unique hairstyles, catering to the growing trend of using haircare and styling products. 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.
Hair Relaxer Market Trends
A Significant Rise in Haircare and Styling Products Expenditure
The growth of the market has been catalyzed by the increasing consciousness among individuals on personal wellness and appearance, along with increased spending on personal grooming. As per the study conducted by the National Center for Biotechnology Information (NCBI), relaxers are used by more than two-thirds of African females to straighten their hair for easy grooming and increasing the length of hair. Increasing westernization and a rise in the spending capacity have led to high demand for grooming products. The trend of flexing long hair, along with adopting unique hairstyles by women, is expected to boost the demand for hair care products, especially hair relaxers, globally. The demand faced a downfall during the COVID-19 pandemic, but the post-pandemic scenario saw the growth of the market, with companies indulging in new product developments. For instance, in 2021, Avlon launched its Affirm Conditioning Relaxer System with Guanidine Hydroxide. This relaxer conditioner provides extra moisture and retains 79% of the original hair elasticity, along with giving volume and shine to hair.
Middle-East Dominates the Global Market
Middle-East accounted for the largest share of the global market. The volume sale of hair relaxers in the region has been recorded to have a steady growth due to the rising demand for styling products, especially hair relaxers. Additionally, the increasing number of product recalls associated with hair styling tools, followed by heat damage concerns, have led the consumers toward hair relaxers, which led to a rise in demand in the market. The market is catalyzed by the strong demand for products that address curl control, a predominant concern of ethnic consumers, along with the prevention of hair breakage and frizz control, in Africa. With the growth of the market, companies are also innovating new products to suit the changing demands of consumers. For instance, in April 2019, Sofnfree, a leading hair care brand, launched the new Sofn'free Infusions Relaxer System in Botswana, southern Africa, that includes an innovative and custom-made relaxer system for the latest trending hairstyles.
Hair Relaxer Market Competitor Analysis
The hair relaxer market is consolidated in nature due to the presence of fewer regional and domestic players. Mergers, expansions, acquisitions, partnerships, and new product developments are the strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the market include L'Oreal SA, Laboratoire Native, Avlon Industries Inc., MacAndrews & Forbes, Unilever, and Jotoco Corp.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Distribution Channel
5.1.1 Supermarkets/Hypermarkets
5.1.2 Convenience Stores
5.1.3 Online Retail Stores
5.1.4 Other Distribution Channels
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 Russia
5.2.2.4 France
5.2.2.5 Spain
5.2.2.6 Italy
5.2.2.7 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 Australia
5.2.3.4 India
5.2.3.5 Rest of Asia-Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East
5.2.5.1 South Africa
5.2.5.2 Saudi Arabia
5.2.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Laboratoire Native
6.4.2 Avlon Industries Inc.
6.4.3 Henkel AG & Co. KGaA
6.4.4 Jotoco Corp.
6.4.5 L'Oreal SA
6.4.6 Godrej Group
6.4.7 George's Hair Fashions East
6.4.8 MacAndrews & Forbes
6.4.9 Croda International PLC
6.4.10 Unilever PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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