Hair Oil Market

Global Hair Oil Market Size (2024 to 2029)

The global hair oil market is expected to progress at a compound annual growth rate (CAGR) of 6.01% from 2024 to 2029 and the market size is predicted to grow from USD 4.74 billion in 2024 to USD 6.35 billion by 2029.

Current Scenario of the Global Hair Oil Market

Hair oil is a hair care product specifically designed to balance hair moisture and is used as a nutrient before and after washing. Hair oil is considered a conditioner that makes hair soft and smooth. Since hair is widely affected by harmful factors such as pollution, dust, and unhealthy eating habits, hair oil has become an integral part of the hair care system, as it improves the texture and condition of the hair. The hair oil guarantees nutrition, hair strengthening, reduced hair loss, and rapid growth. Many consumers believe that hair oil massage has a cooling effect on the hair and helps with styling while keeping it smooth, soft, and shiny.

MARKET DRIVERS

The hair oil market is expected to expand at a constant pace during the forecast period due to the demand for healthy, manageable, and shiny hair that drives the buying decisions of most consumers.

As the demand for natural and organic hair care products increases, women are spending more on hair care products like hair oils, shampoos, conditioners, and serums. The hair oil is an integral part of the hair care routine and efficiently handles various problems such as hair loss, dandruff, drying, and breakage. In addition, manufacturers have been increasing their R&D activities to further improve hair oils in response to changing consumer demands. Hair oils that contain natural ingredients in the formulation are experiencing enormous popularity and significant growth. Hair oil companies are launching light hair oils such as avocado oil and olive oil, which are opportunities in the hair oil market. 

The growing popularity of branded products is boosting the growth of the hair oil market. The higher propensity to certain ingredients of origin and the absence of preparations are expected to accelerate market growth. Organized retailers are maximizing their market share by attracting consumers and offering a variety of products based on competitive pricing schemes. Retail stores offer consumers a new shopping experience by providing the convenience of buying and great value.

MARKET RESTRAINTS

The use of more sophisticated shampoos and oil-free hair care products can hinder the growth of the hair oil market.

REPORT COVERAGE

REGIONAL ANALYSIS

The Asia-Pacific hair oil market is likely to dominate the hair oil market worldwide during the forecast period owing to the rapid growth in the population across the Asia-Pacific region, increasing hair-related problems and pollution levels, and overgrowing demand for hair growth. There are a growing number of people facing scalp issues, such as hair loss, dry and damaged hair, split ends, and others. In addition, awareness about the appearance of youthful hair is increasing, supporting the local market. The Indian market is foreseen to grow faster in the Asia-Pacific region, followed by China and Japan.

KEY MARKET PLAYERS

Companies that play a notable role in the global hair oil market are Johnson & Johnson, Coty Inc., L'Oreal S.A., Unilever PLC, Dabur India Limited, Marico Limited, Emami Group, Bajaj Corp Ltd, Procter & Gamble, and Himalaya Drug Company.

RECENT HAPPENINGS IN THE MARKET

• Marico South Africa Pty., A wholly owned subsidiary of Marico Limited (MSA) acquired ISOPLUS, the leading hairdressing brand in South Africa.
• Coconut oil is dominated by the Marico parachute, while Bajaj and Dabur traditionally focus on almonds and amla.

DETAILED SEGMENTATION OF THE GLOBAL HAIR OIL MARKET INCLUDED IN THIS REPORT

This research report on the global hair oil market has been segmented and sub-segmented into the following categories.

By Product Type

• Coconut Oil
• Almond Oil
• Argan Oil
• Others

The almond oil segment is expected to grow at a rapid pace as consumers choose more light and non-sticky hair oil, and the current generation seems to be attracted to it.

By Application

• Individual
• Commercial

The commercial sector is separated into beauty salons and spas. The rising disposable income, coupled with the launch of several hair care centers, is promoting the commercial segment around the world. 

By Distribution channel

• Hypermarkets/supermarkets
• Specialty stores
• Online stores
• Others

All the offline stores account for the highest portion of the global hair oil business, which, however, is about to change in the coming years with the increasing e-commerce and m-commerce sales.

By Region

• North America
• Europe
• Asia Pacific
• Latin America 
• Middle East and Africa