India Haircare Market is Expected to Witness High Growth by 2024| Hexa Research
Posted by Marsh William on May 8th, 2019
India Hair Care Market is anticipated to grow over the upcoming period owing to factors such as rising urbanization and increase in disposable income. Additionally, consumer need to appear presentable and professional in daily lives is also adding to the growth of hair care market in India. The rise in R&D investments for haircare products is also contributing to the growth of India haircare market.
The Indian hair care market, also has the presence of traditional hair treatment techniques, which tend to impact the adoption of new categories such as shampoo and hair conditioners. Other categories such as hair colorants follow the above stated categories in terms of market share. The trend is expected to continue over the forecast period as well. One of the key challenges in the hair care market in the Indian context is the prevalence of unorganised market, where traditional kirana shops tend to dominate the distribution aspect. This on the other hand, presents a considerable growth opportunity for organised players to market their presence over the coming years.
Driving factors responsible for the growth of India hair care market includes rise in personal awareness, rising demand for haircare products from middle class consumers, increasing awareness, and availability of hair care products. Climate variations in India is another driving factor that tends to hamper the hair conditions living in a certain geographic condition, thus augmenting the demand for proper haircare products to adapt in such locations.
Hair cosmetics is an evolving field and the hair industry is continuously investing in gaining suitable resources to identify new components and hair procedures. India being a growth market for hair care products, tends to have the focus of multiple active vendors in the hair care market. With a relatively young population, combined with the increasing inclination towards hair care products, the market presents considerable growth opportunity for hair care market. Commercial scenario of haircare products in India includes rolling out innovative hair care cosmetics for men and women.
In terms of distribution channel, the market is segmented as online channel and offline channel. Offline channel dominates the market in the Indian context followed by the online channel. The online channel is expected to witness significant growth supported by the prevailing broadband penetration and smartphone penetration in the market. The prevailing penetration of broadband and smartphones coupled with increasing awareness of hair care products and growing adoption among consumers is expected to aid market growth over the coming years.
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About the AuthorMarsh William
Joined: August 11th, 2017
Articles Posted: 478
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