The global hair loss treatment products market size was valued at USD 190.89 million in 2022. It is projected to reach USD 303.84 million by 2031, growing at a CAGR of 5.30% during the forecast period (2023-2031).
Most people struggle with hair loss because of various internal issues, including hormone imbalance, serious illnesses, age, etc. The market for hair loss treatment products is expanding due to the rising need for care among those suffering from androgenetic alopecia. This hair condition affects women, men, and children and can result in baldness and require medication. By launching new items at competitive rates, manufacturers are reviving existing product lines and aiming to capture a larger market share. More than 40% of women worldwide have experienced hair loss by age 40 due to hormone imbalances and other factors.
According to various studies, more than 50% of Indians look for hair fall control products, which include shampoos, conditioners, serums, and other product types in the overall hair care product range. This finding suggests that there is a greater demand in India for products that treat hair loss than for products that address other hair care-related problems. Social media, publications, and TV commercials raise customer awareness of numerous hair loss treatment options, pushing them to buy these items. These elements are predicted to fuel market expansion over the research period.
Due to androgenetic alopecia, or common male pattern baldness (MPB), which affects both men and women, hair loss is a severe problem in the whole hair care market. However, in recent years, external factors, including stress, environmental pollution, and illnesses like dengue, have also contributed to increased hair loss among women. As hair loss is a significant worry for the younger population and because individuals spend a lot of money on hair care products each year, rising spending on the entire hair care business is undoubtedly raising the demand for hair loss treatment solutions.
The market for hair loss treatment products will likely experience a slowdown during the forecast period due to the enormous popularity of hair gain supplements among consumers over the past few years and the ease with which various hair supplements are now widely available. The global market for hair gain supplements has been expanding due to an increase in health-conscious consumers. As women's hair is a significant component of their personalities, this growing awareness among women encourages them to adopt numerous supplements, including hair supplements.
Hair loss has been a concern for both men and women, and it is thought to be caused by genetic conditions and an unhealthy lifestyle. In this case, doctors advise patients to take hair supplements to improve the state of their hair, which in turn limits the market value of hair loss treatment goods and may eventually result in a drop in the retail sales of anti-hair fall products shortly. These supplements are enhanced with biotin, vital vitamins, minerals, and amino acids, all promoting healthy hair growth and strengthening hair. Nowadays, people view these supplements as superior to common anti-hair fall treatments since they offer better internal hair care, which meets their expectations compared to traditional hair loss treatment products.
To obtain a competitive advantage over rivals, makers of hair fall treatment products are expanding into emerging countries like India and building their brands. The corporations have agreements with the linked and well-known salons to promote and sell their products in these nations. Companies who enter emerging markets for hair fall treatment goods may have a first-mover advantage, which might help them make a lasting impression even if other businesses build and launch comparable products in the future.
Additionally, according to Apollo Cosmetic Clinics in India, stress and pollution cause hair loss in about 60% of males and 10% of women in the nation. As a result, markets for scalp treatment products exist in nations like India. Companies might create gender-specific products to differentiate themselves from rivals because males in this country are more likely to experience hair loss issues. Thus, examining all the causes mentioned earlier increases hair loss and concerns, particularly among the female population worldwide, which unquestionably boosts the market growth for hair loss treatment products.
The global hair loss treatment products market is segmented by distribution channel.
Based on distribution channels, the global hair loss treatment products market is bifurcated into supermarkets and hypermarkets, convenience stores, specialist retailers, pharmacies/drugstores, online retail, and other distribution channels.
The pharmacies segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.15% during the forecast period. Pharmacy/drugstores uphold an image of product safety and efficacy that draws customers to prefer purchasing hair treatment items from such establishments, including products to combat hair loss and fall. In addition to selling a variety of prescription and OTC drugs, pharmacies and drugstores are now offering increased visibility and a large selection of consumer goods. Cosmetics, hair care, oral care, and other products fall under this category. These shops serve as a handy retail outlet for customers. Therefore well-known market participants sell their goods there.
Supermarkets and hypermarkets are the primary locations where hair care products, particularly those for treating hair loss, are sold due to their expansive retail spaces that appeal to a wide range of consumer tastes. Several options are available in supermarkets and hypermarkets for different hair loss treatments. Due to the intense rivalry to differentiate hair loss treatment products like shampoos, conditioners, and serums on the supermarket shelf, the producers are attempting to reposition their goods as premium goods in stores. These address specific requirements for functionality, ingredient selection, and packaging. Due to the widespread retail exposure of hair loss treatment goods, supermarkets and hypermarkets are gaining market share.
The convenience that e-commerce retailing offers customers is the primary factor driving the increase in sales. Customers can browse and purchase goods around the clock. Additionally, they find it simple to select their favorite brands and purchase a variety of shampoos, conditioners, and colorants—as well as other products—to care for their hair and manage hair loss. As a result, internet retailers are growing their market shares regarding sales, popularity, and the variety of products they provide from domestic and foreign companies. This is encouraged by people's preference to maintain social distance in the wake of the COVID-19 outbreak. The demand for these items was fueled by the rising opportunity for selling hair care products, including hair loss treatments, through online channels.
Convenience stores sell grab-and-go goods like food and drink, toiletries, and other necessities. Along with global economic growth, the convenience store market share has expanded quickly. The young demographic is crucial to the expansion since they are more likely than other age groups to shop at convenience stores for more shopping trips. Some important tactics for drawing clients toward hair care and treatment items in convenience stores include reasonable/affordable offers, special pricing, and offering a wide range of helpful services, like testing and sampling the products on the spot. Convenience shops now have a competitive advantage over the other channels in terms of brand awareness and retail spacing strategies because of these tactics.
Discounters, warehouse clubs, direct sales, and department stores are among the other distribution channel segments. Consumers in the area have recently stopped making solely online or physical purchases and are adopting a hybrid strategy, choosing whichever channel best meets their needs. Discount stores and warehouse clubs have thrived during the research period thanks to a value proposition that appeals to consumers who are price sensitive. It may not be a surprise that discounters were in an excellent position to benefit from the massive shift in consumer spending caused by the epidemic. Discount stores frequently provide a wide selection of private-label goods, attracting more budget-conscious customers.
Asia-Pacific Dominates the Global Market
The global hair loss treatment products market is divided into four regions: North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 4.25% during the forecast period. The potential for hair loss treatment solutions on the market is increasing due to the nation's wide range of climatic conditions producing hair fall and damage. The average U.S. AQI reading was 152, and the PM2.5 measurement was 58.08 g/m3. This concentration exceeded the World Health Organization's recommended level five times (WHO). Environmental factors are also significant contributors to hair loss and thinning hair. Hair loss and hair fall can be brought on by environmental causes such as pollution, dust, dry weather, and wet weather.
LAMEA is expected to boost at a CAGR of 8.95% during the forecast period. Customers believe the leading causes of hair loss are desalinated water in Abu Dhabi and Dubai, followed by harsh weather. The need for anti-hair fall hair care products, including conditioners, shampoo, and hair serum, is driven by the fact that hair falls are considered the most concerning issue facing women in the emirate. In the United Arab Emirates, drinking tap water weakens the hair, which therefore causes hair to fall out. Additionally, the temperature is a significant aggravating factor. Due to the hot, humid weather and increased perspiration, consumers are shampooing more frequently. Shampooing too frequently dehydrates the scalp and removes its natural oils.
In the United States, the increased hair loss brought on by changing lifestyles and environmental exposure is the key factor driving the industry for hair loss treatment solutions. Without a prescription, Minoxidil is sold over the counter in the United States in both 2% and 5% concentrations. This element helps clients save time and provides a workable option to buy the hair loss treatment solution. The America Hair Loss Association states that hair loss starts around the age of 35 and that men and women experience a loss rate of about 40%. Additionally, the median age of Americans in the United States is 35, suggesting that the country has a sizable market for hair loss treatment solutions.
Europe is expected to grow steadily over the forecast period. Men in Germany aged 18 to 40 who have male pattern hair loss experience considerable negative impacts on measures specifically related to hair loss. The growing problem of hair loss or thinning allowed established companies and newcomers to address the problem by introducing various hair loss treatment products. To seize the current market opportunity, businesses have started conducting research. A standard product used to treat hair loss is Minoxidil. Numerous studies were carried out in the area to investigate the efficacy and safety of Minoxidil. On a group of people experiencing hair loss, the research often compared Minoxidil 5% topical solution to a placebo. The majority of them demonstrated that Minoxidil helps treat hair loss.
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