Pune, India, September 6, 2023 – The European hair care products and styling tools market, which garnered a value of USD 2.45 billion in 2022, is forecasted to achieve a valuation of USD 2.55 billion in 2023. Over the course of the forecast period, from 2023 to 2030, this market is projected to expand to USD 3.40 billion, demonstrating a commendable Compound Annual Growth Rate (CAGR) of 4.17%. A pivotal role in the distribution of styling tools is played by hairdressers and hair salons, with an emerging trend towards the use of coconut oil, shea butter, and tea tree oils in hair care products across the region further fueling market growth. These findings are derived from a comprehensive report titled “European Hair Care Products and Styling Tools Market, 2023-2030,” shared by Fortune Business Insights™.
Rise of Food-based Ingredients Elevates Market Trajectory
The growing popularity of food-based ingredients in hair care products is expected to be a significant driver of growth in the European hair care products and styling tools market. The increasing demand for sustainable and organic hair care products and styling tools, in contrast to conventional alternatives, has led to a surge in ethical, free-from, and environmentally-friendly claims in the hair care category. The rise in demand for natural cosmetics has particularly boosted the usage of shea butter across Europe. However, the dominance of mass-market and online retailers is likely to impede product distribution through hairdressers and hair salons, posing a potential hindrance to market growth.
Hair Care Products Take the Lead with Millennial Demand
Segment-wise, the market is divided into two categories: hair care products (including shampoos, colorants, hair treatment products, hair growth products, and others) and hair styling tools (encompassing hair dryers, hair irons/hair stylers, hair clippers/trimmers, hair shavers, and others). In 2022, the hair care products segment assumed the market’s leadership position, attributed to the enduring popularity of hair straightening, perming, and coloring among millennials in Europe.
Women Spearheading Market Due to Youthful Appearance Focus
When categorizing by end-user, the market distinguishes between men and women. The women’s segment constituted the majority share, reflecting the traditional marketing strategies that predominantly targeted female consumers. The growing preference for a youthful appearance among both men and women is projected to stimulate the development of specific hair care products and hair styling tools tailored to these consumer groups in the years to come.
Regional Insights: Germany at the Helm, U.K. Exhibiting Strong Growth
The market spans various European countries, including the United Kingdom, Germany, France, Italy, and the Rest of Europe. Germany asserted its dominance by leading the European hair care products and styling tools market with a valuation of USD 444.69 million in 2022. The nation’s position is fortified by its role as a major importer of raw materials for cosmetics, including hair care products. Meanwhile, Italy is witnessing a surge in demand for luxury hair care products and styling tools, poised to emerge as a significant factor contributing to market growth. The United Kingdom displayed robust growth, boasting the highest CAGR, owing to the escalating consumer demand for organic beauty products.
