Hong Kong Professional Hair Care Market Overview
Professional hair care products are advanced products suggested by specialists and made for specific consumer requirements based on type of hair, to cleanse and enhance its texture and quality. These products offer solutions for hair- and scalp-related issues such as hair loss, dandruff, hair damage, hair thinning, split ends, and scalp itch. This report includes the study of products used by professionals/stylist and products sold online, and in hypermarkets and supermarkets, hair salons, specialty professional hair care retail stores in the year 2017 and the estimation of market size by 2023.
The Hong Kong professional hair care market provides various hair care solutions for both men and women. The various hair care solutions include shampoos and rinses, hair gel, hair conditioner, hair sprays, hair creams, dyes, and hair colors.
Hong Kong Professional Hair Care Market Outlook
The Hong Kong professional hair care market was valued at $56.20m in 2017 and is estimated to reach $69.66m by 2023, growing at a CAGR of 3.71% during the forecast period 2018–2023. The coloring segment held the largest market share in 2017 and is estimated to grow at a CAGR of 4.87% from 2018 to 2023. In the segmentation by gender, the female segment holds the major market share in the Hong Kong professional hair care market. The hair salon services segment of the Hong Kong professional hair care market by distribution channel, held the major share of the market in 2017 followed by specialty professional hair care retail stores.
Hong Kong Professional Hair Care Market Growth Drivers
With the growing number of urbanized population and increasing internet penetration, the sale and purchase of professional products are facilitated by major ecommerce websites, thus driving the professional hair care products sale. Consumer awareness about fashion trends and celebrity styles have increased the market for coloring and styling products. Online Availability of international hair care brands online has increased the sale of these products.
Increasing number of professional beauty salons and spas has increased the consumer interest for hair care solutions such as hair spas and various scalp care treatments. There is a high requirement for hair care products to fight the humid environment of Hong Kong. Also there is an increased demand for low-chemical natural products from the conscious consumers in Hong Kong.
Hong Kong Professional Hair Care Market Challenges
Certain products that contain key harmful chemicals such as ammonia and other kinds of allergens have had a huge drop in sales because the consumer is now more focused on quality and more aware about the long-term health risks. Due to the increasing number of mobile hair dressers, consumers are fascinated to comfort and easy availability, which has highly promoted mobile hair dressers, which directly reduce the consumer base of professional hair salons and beauty parlors as the consumers would rather have the desired services at the convenience of their home.
Top manufacturers are being challenged by small-scale manufacturers of organic products that are chemical free and constantly release new product batches. This undesirably impacts the market and manufacturers have to keep in mind the supply–demand ratio so as to not face high loss in sales.
Hong Kong Professional Hair Care Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Hong Kong Professional Hair Care Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of hair care product and their distribution channels.
Hong Kong Professional Hair Care Market Report: Industry Coverage
Hong Kong Professional Hair Care Market – By Gender: Female and Male
Hong Kong Professional Hair Care Market – By Organic Vs Inorganic: Organic and Inorganic
Hong Kong Professional Hair Care Market – By Product: Coloring, Straightening, Styling Products, Shampoo, Conditioners, Serum and Others
Hong Kong Professional Hair Care Market – By Distribution Channel: Online, Hair Salons, Specialty Professional Hair Care Retail Stores, Hypermarkets & Supermarkets and Others
Hong Kong Professional Hair Care Market – By End User: Salons, Bridal and Entertainment Industry
Hong Kong Professional Hair Care Market Key Players:
Some of the key players mentioned in this market research report include L’Oreal S.A. (France), Procter & Gamble Co (the U.S.) Kao Corporation (Japan), Henkel AG & Co, KGaA (Germany), Shiseido Company Ltd (Japan), Unilever Ltd (the U.K.), Revlon Inc (the U.S.), Davines S.p.A (Italy), Amos Professional (Korean), and Milbon Co Ltd (Japan).
Hong Kong Professional Hair Care Market Trends:
- Increasing R&D towards modernization of products to address hair care related problems faced by consumers is providing an opportunity for the growth of the market.
- The market for Hong Kong professional hair care is well-established and is witnessing growth due to the growing awareness about hair care and treatment in the past few years.
- Growing acquisitions, partnerships and product launches by major companies are increasing the scope of the market.