July 16, 2024
Scalp Care Market

Scalp Care Market Growing Demand for Healthy Scalp and Hair Care Drives Market Growth

The global Scalp Care Market is estimated to be valued at US$12.84 billion in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The scalp care market refers to products and treatments specifically designed for maintaining a healthy scalp and promoting hair growth. These products include shampoos, conditioners, serums, and other treatments that cater to different scalp conditions such as dandruff, dryness, itching, and oily scalp. The increasing awareness about the importance of proper scalp care for overall hair health is driving the demand for scalp care products. Consumers are seeking effective solutions to address scalp-related issues and improve the quality and appearance of their hair.

Market Key Trends:

One of the key trends observed in the scalp care market is the growing popularity of natural and organic scalp care products. Consumers are becoming more conscious of the ingredients used in their personal care products and are opting for natural alternatives. Natural and organic scalp care products are perceived as being safer and gentler on the scalp, reducing the risk of irritation or side effects. Manufacturers are responding to this trend by introducing products with plant-based ingredients and avoiding harmful chemicals such as sulfates and parabens. This trend is expected to continue driving the demand for natural and organic scalp care products in the market.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the scalp care market is relatively low. This can be attributed to the high barriers to entry, including the need for substantial investment in research and development, manufacturing facilities, and distribution networks. Established players in the market have already built strong brand recognition and customer loyalty, making it difficult for new entrants to gain market share.

Bargaining power of buyers: Buyers in the scalp care market hold a moderate level of bargaining power. While there are a wide variety of products available in the market, buyers have the ability to switch between brands and products based on their preferences. This gives them some leverage in negotiations with suppliers.

Bargaining power of suppliers: Suppliers in the scalp care market hold a relatively higher level of bargaining power. This can be attributed to the limited number of suppliers of key ingredients and raw materials used in scalp care products. Suppliers can exercise their power by increasing prices or limiting supply, which can impact the profitability of scalp care companies.

Threat of new substitutes: The threat of new substitutes in the scalp care market is relatively low. There are limited alternatives to scalp care products, and consumers often rely on specialized products to address specific scalp issues. Additionally, the effectiveness of established scalp care products and the reputation of the key players in the market act as barriers to the adoption of substitutes.

Competitive rivalry: The competitive rivalry in the scalp care market is high. The market is characterized by the presence of numerous key players, each competing for market share. These companies invest heavily in product innovation, marketing campaigns, and strategic partnerships to gain a competitive edge. As a result, competition in the market is intense, driving companies to continuously improve their product offerings and customer experiences.

Key Takeaways

The global Scalp Care Market is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period. This growth can be attributed to increasing awareness about scalp health and the growing demand for specialized scalp care products. Factors such as pollution, stress, and lifestyle changes have contributed to an increase in scalp-related issues, driving the demand for effective solutions.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the scalp care market. The presence of a large number of key players in this region, along with the rising consumer awareness about scalp health, is driving the market growth. Additionally, increased spending power and a greater emphasis on personal care contribute to the demand for scalp care products in this region.

Key players operating in the scalp care market include Bioderma Laboratories, Lotus Herbals Pvt. Ltd., Natura & Co., Kao Corporation, Beiersdorf AG, Procter & Gamble Co., Unilever PLC, Moroccan Oil, L’Oreal SA, Himalaya Wellness Company, Johnson & Johnson Inc., and The Estee Lauder Companies Inc. These companies have established themselves as key players in the market through their strong brand recognition, extensive product portfolios, and strategic partnerships. They continue to invest in research and development to introduce innovative products that cater to the evolving needs of consumers.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it