LONDON–Technavio’s latest market research report on the global professional haircare products market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The key manufacturers in the global professional haircare products market have begun investing in customized products and haircare treatments that suit the specific requirements of customers. However, common issues like dandruff, damaged hair due to sun exposure, and damaged scalp are reasons that sustain the demand for haircare products across the globe.
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The top three emerging market trends driving the global professional haircare products market according to Technavio research analysts are:
- Evolving consumer expectations
- Growing demand for natural and organic professional haircare products
- Multichannel marketing
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Evolving consumer expectations
Manufacturers, retailers, and other players in the global professional haircare products market are focused on helping the market expand by delivering products and services that suit the evolving requirements of consumers across the globe. Consumers, of late, are demanding value-added products at reasonable prices. Natural, chemical-free hair colorants, dominate the professional haircare products market. Highlights, splash lights, Ombre, and somber colors dominate the market.
According to Tamal Saha, a lead analyst at Technavio for cosmetics and toiletry research, “Haircare clinics are increasingly preferred by consumers across the globe. Haircare specialists detect the specific hair type and need of a consumer before suggesting a product. Haircare consumers are willing to pay for premium products provided they offer them superior quality. Many consumers visit salons for haircuts, hair styling, and hair coloring.”
Growing demand for natural and organic professional haircare products
The revenue from natural and organic professional haircare products accounted for more than 12% of the market share in 2016. This is because consumers of late, are increasingly aware of the harmful chemicals that are incorporated in haircare products.
There are a few regulatory bodies, in the global professional haircare products market, that regulate the manufacturing and selling of natural and organic products. Ecocert is a certification agency for organic products, Soil Association is a charitable UK-based certification body for organic products, and National Science Foundation is a US-based government agency that assists in research for non-medical science and engineering projects.
Omnichannel marketing or multichannel marketing is driven by multichannel shoppers. Multichannel shoppers are those who shop through various channels: online and offline. Online shopping is aided by e-mail, social media, or smartphones. Offline marketing is done through specialty stores like Nordstrom, Sephora, and salons and spas. The ease of purchase of professional haircare products through the online media adds to the popularity of the online distribution channel.
“Many consumers prefer convenience shopping to brand-loyalty. This implies the need for the vendors to ensure maximum product visibility through omnichannel marketing. Multichannel marketing helps vendors to optimize their businesses across various channels and maximize revenues. For instance, P&G's Pantene Weather Program was launched through multichannel marketing methods back in 2013,” says Tamal.
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