Demand For Men's Grooming Drives Growth In Global Haircare Market

Data from market research firm Technavio forecast the global haircare market will expand at a CAGR of 3 percent in 2016–2019 to reach $91 billion. Growth is expected to be driven by growing demand for men’s grooming products and the increasing number of fashion-conscious consumers, as well as aging populations in developed countries, such as the United States, the UK, Canada, Germany, and China. Consumers in the Americas accounted for about 37 percent of the market in 2014, with the United States contributing around 15 percent of the region’s revenue. Shampoos accounted for 34 percent of the market in 2014, and is forecast to grow to $28 billion by 2019.