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New Dos Give Hair Care a Renewed Boost
By Oru Mohiuddin, Euromonitor International
Posted: May 22, 2014, from the June 2014 issue of GCI Magazine.
page 2 of 2The increasing sophistication in hair care has led to a gradual premiumization, as seen within oral care. Between 2008 and 2013, value growth in hair care exceeded volume growth by an increasing margin. Despite the premiumization, hair care is predominantly characterized by mass market products, with mass hair care accounting for nearly 90% of the global hair care market. This is because hair care, akin to oral care, is still viewed as a staple category, and consumers still carefully evaluate the expenses involved when making hair care purchases, regardless of the level of product sophistication.
More Segmentation for Future Innovations
An important question going forward is what other levels of sophistication is hair care likely to witness. While it has been successful in targeting hair care needs more closely, there are still some untapped areas. For example, gray hair remains largely unexplored, and even though there have been launches to address hair loss, it is still not a fully proliferated market.
Going forward, innovations are expected to be driven by increasing segmentation and targeting less explored hair care concerns. For innovations targeting the issue of hair health, consumers will continue to pay attention to the prices charged, but if there are breakthrough innovations that can impede the process of gray hair or hair loss, it is likely that consumers would take a different view toward pricing.