Spanish Market for Hair Care Set to Post Highest Growth
February 16, 2007
SPAIN: The Spanish market for salon hair care products is expected to post the highest growth rate in Western Europe through 2010. According to a new study by Kline & Company, Salon Hair Care 2005 Volume II: Western Europe, the overall market is expected to be more than $17.8 million at the manufacturer’s level with 2.1% annual growth expected during the next five years. Driving this growth is the trend toward innovative, multi-functional products, especially in the conditioners segment, as more European consumers demand the benefits of salon formulas that offer added shine, UV protection and color extenders and enhancers. The study indicates that competition between top players, L’Oréal and Procter & Gamble, will require smaller, niche companies to concentrate on the cultural and fashion trends in each country.