We recently compiled a list of the . In this article, we are going to take a look at where Procter & Gamble Company (NYSE:PG) stands against the other hair care stocks. According to Fortune Business Insights, in 2023, the hair care industry was estimated to be worth $99.
52 billion globally. Between 2024 and 2032, the market is projected to expand at a CAGR of from $106.91 billion to $213.
47 billion. In 2023, Europe held a 36.43% market share, leading the hair care industry.
The demand for hair care products has increased as a result of the growing acceptance of longer hairstyles by males and the growing popularity of hair coloring. According to a survey conducted in 2020 by Garnier, 42% of 2,000 Americans discovered new techniques for dyeing their gray hair. Secondly, an increasing number of consumers are dealing with hair problems such as dandruff, graying hair, and hair loss, which will likely lead to a rise in the use of hairdressing products.
According to survey results released in January 2022 by the Dermatology & Cutaneous Surgery Institute (DCSI), over two-thirds of Americans over the age of 35 experience issues with hair thinning and loss. Furthermore, the World Health Organization (WHO) released estimates showing that 30% of Japanese people were over 60 in 2020. Thirdly, there is an increasing emphasis on the development of organic and natural products to meet rising product demand.
For example, Australian scalp care brand Straand made its UK debut in November 2023. .