Hairstyling Products Market To Reach $43.05 Billion By 2030

Hairstyling Products Market Growth & Trends

The global hairstyling products market size is expected to reach USD 43.05 billion by 2030, showing a CAGR of 5.8% from 2024 to 2023, according to a new report by Grand View Research, Inc. Consumers increasingly seek versatile and specialized products to achieve diverse hair styling goals, while the beauty industry continues to introduce innovative solutions, catering to the desire for unique and fashionable looks. This, combined with the expanding middle-class demographic and the influence of social media, contributes to the ongoing surge in demand for hairstyling products.

As per the 2023 LendingTree survey findings, the annual expenditure on beauty products, cosmetics, and services by Americans averages USD 1,754. Notably, younger generations tend to allocate even more, with millennials spending an average of USD 2,670 and Gen Zers USD 2,048. Irrespective of age groups, a significant portion of this expenditure, approximately 30%, is directed toward skincare and an equal proportion toward hair-related products.

The pervasive influence of social media, promoting diverse hairstyle trends, and the premiumization of the beauty industry fuel a heightened use and demand for hairstyling products, as consumers aspire to achieve and showcase the latest, professionally styled looks. The 2023 LendingTree survey reveals that 46% of Americans acknowledge that their beauty product spending has been influenced by social media, particularly among the younger demographic, with 67% of millennials and 64% of Gen Zers concurring. Additionally, these generations are strongly inclined toward high-end luxury products, as 67% of millennials and 57% of Gen Zers express a willingness to invest more in such items, significantly exceeding the 48% average among all consumers.

The e-commerce boom is driving increased demand for hairstyling products by providing consumers with convenient access to a wide array of options and the ability to make informed purchase decisions online. According to a 2022 YouGov survey, approximately 10% of worldwide consumers report exclusively purchasing health and beauty products online, with nearly twice as many (22%) indicating a predominant preference for online shopping. Notably, consumers in China and India exhibit a higher propensity for exclusive online shopping, with 16% and 13% respectively, leading in this shopping behavior.

The escalating demand for natural and clean products is exerting significant pressure on markets, as consumers increasingly prioritize safer, eco-friendly, and sustainable options, fostering innovation and reshaping consumer preferences in the process. In January 2023, well-known American actress Tia Mowry introduced a range of clean and eco-friendly hair care items tailored for individuals with curly hair. This product line encompasses hair gel, a leave-in curl cream, and a mist. The curl cream is designed for daily application, offering effective hair hydration without causing any heaviness, and it leaves no visible white residue on the hair.

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Hairstyling Products Market Report Highlights

• Based on product, hair sprays dominated the markets in 2023 due to their versatility in holding and shaping hairstyles, providing a long-lasting effect, and offering various formulations suited to a wide range of hair types and styling preferences

• Demand from males for hairstyling products is expected to surge during the forecast period. Increasing trend in male grooming and the growing influence of social media and fashion have spurred more males to opt for hairstyling products, as they seek to achieve stylish and well-groomed appearances, ultimately driving the demand for such products

• Based on distribution channel, hypermarkets and supermarkets held the majority share in 2023 because of their wide reach, convenience, and ability to offer a diverse range of brands and options, making it easier for consumers to find and purchase hairstyling products

• Asia Pacific market is anticipated to grow with the highest CAGR over the forecast period. This is due to factors like urbanization, a rising middle-class demographic, and evolving beauty standards, as consumers increasingly seek to embrace a diverse range of hairstyles and grooming practices, fueling the growth of the hairstyling products market

Hairstyling Products Market Segmentation

Grand View Research has segmented the global hairstyling products market based on product, end-use, distribution channel, and region:

Hairstyling Products Product Outlook (Revenue, USD Million, 2018 - 2030)

• Hair Gel

• Hair Wax

• Hair Mousse

• Hair Spray

• Pomade

• Others

Hairstyling Products End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Male

• Female

Hairstyling Products Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hypermarkets and Supermarkets

• Convenience Stores

• Specialty Stores

• Online

• Others

Hairstyling Products Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Spain

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Central & South America

  • Brazil

• Middle East & Africa

  • UAE

  • South Africa

List of Key Players in the Hairstyling Products Market

• Procter & Gamble

• L'Oréal Groupe

• Revlon, Inc.

• Kao Corporation

• Unilever

• Shiseido Company, Limited

• Henkel AG & Co. KGaA

• Mandom Corporation

• Amorepacific

• Flora and Curl