India Hair Care Market has turned into a battlefield for FMCG companies: Bonafide Research

India Hair Care Market has turned into a battlefield for FMCG companies: Bonafide Research

Rising urbanization, growing disposable income and increasing spending on hair care, attractive packaging, increasing awareness among consumers about the hair care and shifting towards hair growth and styling products will mean a higher tendency to spend on "excellence existence? products. Cultural diversity, varying climatic conditions, changing fashion trends, invasion of foreign influences over various periods of our country’s history is all accountable for multifarious hair care preferences of the consumers across India. Also, rapidly getting higher hair regarding problems such as untimely hair loss, dandruff, thinning hair and graying hair is spurring interest in convenient use of hair care product such as anti-dandruff shampoo, conditioners, natural oils, and other herbal hair growth products. The entire hair care market consists of hair oil, hair shampoo, hair colours and hair styling products such as hair gel, hair volumizer, mousse, serum, and other hair styling appliances. Hair oil segment is generating maximum revenue for hair care market. Whereas, shampoo is frequently used among people in India in order to wash and nourish hair. Thus, India has mature market for hair oils and hair shampoo in overall hair care industry. Companies are launching various new anti-dandruff and hair loss treatments products with focus on emerging markets that will add growth to the hair care market. Apart from hair oil and hair shampoo, the category of hair colours and hair styling products are speedily mounting in India. According to recently published report of Bonafide Research "India Hair Care Market Outlook, 2021", the hair care market was growing at a CAGR of nearly 17% over past five years. The growing middle class and increasing disposable income provides many opportunities in the hair care industry. The increase in hair growth products and hair appliances purchase is growing primarily due to rising awareness about taking care for hair, increasing hair regarding problems, growing brand awareness and personal grooming among people in the country. Hair care has turned into a theatre of war for consumer-goods companies where customers are still feeling the aftereffects of the financial crisis. The rivalry is passionate in hair care in terms of quality, price, and services rendered to the end user. New product developments and innovation are the primary aim of the existing as well as new competitors. Also, manufacturers are trying to convince consumers that they should implement a hair care regimen by various product launches and aggressive marketing strategies. The campaign for hair care products through online social networking sites, TV channels, taglines, newspapers, magazines, etc. have become a part of successful market strategy in India hair care market. People are getting more attracted through these advertisements. Moreover, the level of awareness about the products, brands and their features is also rising among consumers. In comparison, there is better consolidation in the hair care market, with larger players like Hindustan Unilever, P&G, Godrej, Dabur, Marico, L’Oreal, Hygienic Research Institute, ITC, etc. generating most of the sales.


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