However, despite being a category in demand, value sales of hair care have stalled over the last few years in most developed countries, having originally showed signs of resistance to the recession.
Now it appears that the anti-aging trend which has boosted the skin care market, could have the same effect in hair care, and market analyst Euromonitor predicts the US and Japan to be the frontrunners.
Embrace the trend
“During the last few years, value sales of hair care have stagnated in most developed countries,” says the market researcher. “The anti-ageing trend will give opportunities to increase sales in value and volume terms, by raising the use of specialty ingredients and by introducing multi-step regimes.”
“The US and Japan will be the first to embrace the anti-aging trend in hair care.”
Looking at premium hair care retail value figures the US are well ahead of the chasing pack, which is led by Japan, with the UK and Canada trailing behind.
These figures combined with the annual disposable income per capita in Japan and the US put them in a prime position to benefit.
Global anti-agers retail value has more than doubled in the last 14 years and Euromonitor also reveals that volume consumption is also high in the US and Japan for conditioning agents.
The data also suggests there is a big opportunity to be seized in Brazil as conditioners lead the way far more than any other market; however the market analyst is cautious about whether this potential will be fulfilled, as lower incomes in the BRICS could limit such opportunities.