by Scalp care products are specifically designed to maintain scalp health and nourish hair follicles for strong and lustrous hair growth. Scalp care routines involve cleansing, toning and moisturizing the scalp for optimum nourishment. The growing consumer awareness about healthy hair care practices is driving the demand for scalp care products. Shampoos, conditioners, serums, and oils comprising natural ingredients like jojoba oil, tea tree oil, and argan oil are gaining popularity among conscious consumers.
The global scalp care market is estimated to be valued at US$ 14.8 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the scalp care market are Illumina, Inc., Eurofins Scientific, PerkinElmer, Inc., F. Hoffmann-La Roche AG, Natera, Inc., Yourgene Health Plc., Laboratory Corporation of America Holdings (LabCorp), BGI Group, and Quest Diagnostics Incorporated. These leaders are focusing on new product launches and mergers & acquisitions to strengthen their market position.
The Scalp Care Market Share provides opportunities for innovations in formulations comprising natural extracts and essential oils to cater to the demand for natural and organic hair care products. Development of microbiome-friendly hair care regimes presents an opportunity to address scalp health issues from the root cause.
Advancements in hair transplant techniques and development of drugs for hair regrowth are furthering the adoption of scalp care routines. Novel formulations comprising ingredients like minoxidil, popularly known as Rogaine, are aiding hair regrowth and driving market growth.
Market drivers
Increasing cases of hair fall and scalp issues due to sedentary lifestyles and changing environmental conditions are propelling the demand for specialized scalp care products. Rising pollution levels and excessive use of chemical-based styling products are detrimental to scalp health. This is increasing consumer dependence on scalp detoxifiers and nourishers for healthy hair. Additionally, the growing geriatric population prone to age-related hair issues and male pattern baldness is a key driver boosting market revenues
Current challenges in Scalp Care Market:
The scalp care market is facing various challenges which are hindering its growth. Some of the major challenges include-
– Increasing preference for herbal and natural products: Consumers are increasingly becoming aware of the harmful chemicals present in commercial scalp care products. This is driving the demand for herbal and natural scalp care solutions made from plant and fruit extracts. This is a challenge for existing players to shift towards more natural ingredients.
– Rising pollution and hectic lifestyles: High pollution levels and stressful lifestyles are damaging people’s scalps leading to issues like dandruff, dryness etc. Formulating products that can effectively tackle problems arising due to external environment and lifestyle is a challenges for brands.
– Intense competition: The scalp care market has numerous global as well as local brands offering a wide range of products. This intense competition makes it difficult for companies to differentiate their offerings and achieve growth.
SWOT Analysis
Strength: The scalp care market has seen strong growth in the last few years due to increasing hair and scalp related issues. Rising health and beauty consciousness is driving demand.
Weakness: Market remains highly fragmented with presence of several private label brands. Dependence on few key players also affects market dynamics.
Opportunity: Increasing focus on herbal ingredients based products present opportunities for manufactures. Emerging markets like Asia Pacific and Middle East provide new areas for expansion.
Threats: Stiff competition increases pressure on pricing. Economic slowdowns can negatively impact consumer spending on hair care products.
In terms of geographical regions, North America currently accounts for the largest share in the global scalp care market, both in terms of value and volume. This is attributed to high disposable income, growing hair and scalp related issues, and strong brand awareness among consumers regarding various scalp care products in the region. Asia Pacific is expected to witness the fastest growth during the forecast period. Factors such rising standards of living, expanding middle class population, and increasing self-grooming consciousness are driving the scalp care market growth in Asia Pacific. China represents the largest market, followed by Japan and India.
While the North America region dominates currently with largest market share, Asia Pacific region is poised to witness fastest growth in coming years. Factors like robust economic development, growing working population, increasing premiumization in hair and skincare are driving luxury spending in countries like China, India which will accelerate scalp care market growth.
