Hair Relaxer Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The Hair Relaxer Market size is expected to grow from USD 690.00 million in 2023 to USD 852.90 million by 2028, at a CAGR of 4.33% during the forecast period (2023-2028). The market is primarily driven by the rising consumer demand for hair styling products, including hair-straightening or relaxer products.
New York, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hair Relaxer Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06483869/?utm_source=GNW
The Hair Relaxer Market size is expected to grow from USD 690.00 million in 2023 to USD 852.90 million by 2028, at a CAGR of 4.33% during the forecast period (2023-2028).
The market is primarily driven by the rising consumer demand for hair styling products, including hair-straightening or relaxer products. The hair relaxants market has been steadily growing owing to the increasing influence of social media and television endorsements. The trend of social media influencers showcasing their hair styling regimens has been on the rise over the past few years, and both local and international hair product companies have been turning to influencers to increase their brand awareness and reach potential consumers.
Changing consumer dynamics, coupled with increasing product awareness, is supporting the growth of the market. The demand for organic and natural-label hair relaxant products has been growing due to elevated awareness about the harmful effects of the chemicals on hair.
The growing popularity of hair relaxants, especially among black women, to style or manage their hair, along with an increase in launches of advanced hair relaxer products for different textured hairs, are boosting the market growth globally. In addition, the rising spending power of consumers on styling products is further fueling market growth.
Hair Relaxer Market Trends
Rising Expenditure on Haircare and Styling Products
The growing interest of consumers in haircare products such as hair relaxants as it increases hair manageability, reduces the efforts of combing, and improves self-esteem, which in turn boosts the sales of the market. The increasing consciousness among individuals on personal wellness and appearance, along with increased spending on personal grooming, is augmenting the growth of the market. As per the study conducted by the National Center for Biotechnology Information (NCBI), relaxers are used by more than two-thirds of African females to straighten their hair for the purpose of easy grooming and increasing the length of hair. Increasing westernization and increasing purchasing power of consumers have led to high demand for grooming products. The trend of flexing long hair, along with adopting unique hairstyles by women, is expected to boost the demand for hair care products, especially hair relaxers. Furthermore, the increasing number of companies introducing consumer-oriented hair relaxant products is propelling the growth of the market. For instance, in June 2021, Avlon launched its Affirm Conditioning Relaxer System with Guanidine Hydroxide. This relaxer conditioner provides extra moisture and retains 79% of the original hair elasticity, along with giving volume and shine to hair.
The Middle-East and African Region Holds Significant Market Share
Consumers in the Middle-East and African countries prefer straight hair, thus increasing the demand for high-quality and innovative hair relaxant products to manage and style their hair. Hair care products like hair relaxants that help loosen curls chemically and in easy styling are boosting the demand.
Hair relaxants are being increasingly used across the region, as it is heavily used as styling products to remove curls and frizz and to make hair more manageable. Moreover, owing to the increasing demand for salon-like experiences at home, demand for such products is fueling the growth of the market in the region. There are numerous players operating in the market to offer hair relaxant kits with instructions on the packaging before and during the application for use at home, propelling the market growth. For instance, Sofnfree, a leading hair care brand, offers Sofn’free Infusions Relaxer System in Botswana, southern Africa, which includes an innovative and custom-made relaxer system for the latest trending hairstyles.
Hair Relaxer Industry Overview
The hair relaxer market is highly consolidated owing to the presence of fewer global, regional, and domestic players. The key players in the market are L’Oreal SA, Avlon Industries Inc., MacAndrews & Forbes, Unilever, and Jotoco Corp, among others. The market players are focusing on offering consumer-oriented hair relaxant products, such as organic and natural relaxers, for different textured hairs. Expansion, product innovation, partnership, and merger are the key competitive strategies adopted by the market players to boost the presence of their brand among consumers and to gain a significant share in the market.
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The market estimate (ME) sheet in Excel format
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