The hair mask companies consider online channel as one of the effective tools in promoting its products and services among its target segment.
PORTLAND, UNITED STATES, UNITED STATES, November 25, 2020 /EINPresswire.com/ — As per the report, the global Hair Mask Market was estimated at $597.7 million in 2018 and is expected to hit $886.4 million by 2026, registering a CAGR of 5.1% from 2019 to 2026.
Drivers, restraints, and opportunities-
Increase in number of bald populations, surge in number of beauty-conscious customers and availability of efficient services are the major factors driving the growth of the global hair mask market. On the other hand, lower penetration in untapped market curb the growth to some extent. Nevertheless, rise of premiumization trend and upsurge in number of millennial populations have paved the way for an array of lucrative opportunities in the near future.
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The synthetic segment to rule the roost-
Based on nature, the synthetic segment garnered the major share in 2019, contributing to more than two-fifths of the global hair mask market. This is attributed to the fact that these products are easily available to its target customers at affordable prices. The organic segment, on the other hand, would showcase the fastest CAGR of 5.90% by 2026. Rise in demand for various organic products has propelled the growth.
The commercial segment to lead the trail by 2026-
Based on end-user, the commercial segment accounted for nearly three-fourths of the global hair mask market share in 2019 and is anticipated to retain its dominance throughout the study period. When it comes to hair care or hair styling, customers often tend to prefer consulting hair care professionals. These professionals are trained to recognize and use the right type of hair mask for the right scalp. At the same time, the household segment is projected to register the fastest CAGR of 5.60% during 2019–2026. Increase in number of millennials population has fueled the growth of the segment. They are very conscious about their hair in terms of quality as well as density and prefer having hair mask treatment at home.
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Europe, followed by North America, to dominate in terms of revenue-
Based on geography, Europe, followed by North America, contributed to nearly one-third of the global hair mask market revenue in 2019 and is expected to maintain its top status throughout the estimated period. Increase in number of bald people in the region has led to higher number of hair care manufacturers and vendors. Simultaneously, the region across Asia-Pacific would cite the fastest CAGR of 6.20% till 2026. Growing inclination toward quality hair grooming among people in the region has given rise to a shift in demand for hair care products that include hair mask.
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Source: EIN Presswire