04.12.23
The men's hair care and styling products market size is expected to grow by $12.04 billion from 2021 to 2026, progressing at a CAGR of 5.16%, per the latest Technavio market research report.
Europe is estimated to account for 31% of the global market growth during the forecast period. The UK is the key market for the men's hair care and styling products in the region. The growth in the region is facilitated by factors such as the growing popularity of emerging fashion trends among millennials. Fashion trends in hairstyles and haircuts play an important role in increasing the demand for hair care and styling products such as gel, wax, hair oils, serums, hair foams, dry shampoos, and others.
Fashion Trends Shape Men’s Hair Care Styling Growth
Evolving fashion trends in hairstyling are among the key drivers fueling the men's hair care and styling products market growth. There is an increase in the adoption of personal grooming and fashion products among the youth and millennials, which drives market vendors to offer easy-to-use products that do not cause hair damage— a concern among consumers while using hair styling products.
Celebrity endorsement is a marketing strategy employed by most manufacturers, which has a major impact on the sales of hairstyling products. Manufacturers, thus, sign celebrities and experts from the beauty industry to promote and endorse their products. Accordingly, factors such as evolving fashion trends in hairstyling are expected to drive market growth during the forecast period.
Use of Social Media Marketing An Emerging Trend
An emerging trend in the men's hair care and styling products market is the use of social media marketing. Social media plays a key role in increasing awareness about the availability of high-end hair styling products such as foams, creams, and hair sprays.
The growing internet penetration, coupled with the rise in the e-commerce market, fuels the demand for a wide range of men's hair styling products available in the market. For instance, the total number of active social media users globally accounted for 4.48 billion users, which is approximately 62% of the world population and still increasing every day.
Hence, the increasing influence of social media is anticipated to widen product awareness, including men's hair care and styling products.
Key Men’s Hair Care And Styling Products Market Players
The men's hair care and styling products market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. BluMaan, CavinKare Pvt. Ltd., Coty Inc., Edgewell Personal Care Co., Hanz de Fuko LLC, Harrods Ltd., Harry Inc., Henkel AG and Co.KGaA, Les Soins Wise Inc., LOreal SA, MASC, Moquer, The Procter and Gamble Co., Revlon Consumer Product Corp., The Estee Lauder Co. Inc., The Net a Porter Group Ltd., Truefitt and Hill, Unilever PLC, and Zed Lifestyle Pvt. Ltd. are some of the major market players.