According to the latest market research study released by Technavio, the haircare market in Africa is expected to grow at a CAGR of close to 7% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the haircare market in Africa based on product type:
Haircare market in Africa share by product type 2015
|
Shampoo |
29.64% |
|
Conditioner |
27.41% |
|
Hair Color |
12.78% |
|
Hair Styling Products |
12.35% |
|
Other Haircare Products |
17.82% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Shampoo market in Africa
The shampoo market in Africa was valued at around $516 million and is expected to grow at a CAGR of over 8% by 2020. The launch of innovative new products that cater specifically to the requirements of customers is the primary driver for this market segment. Manufacturers are expanding their businesses by investing in developing countries by setting up production facilities and research labs in the area. Southern Africa and North Africa will emerge as the key revenue generating areas in the African haircare market. For instance, in 2016, P&G sold its major international shampoo brands to Henkel to expand their international footprints.
“Companies are taking various initiatives to meet the consumer needs and increase their profitability in the area. Vendors are launching products that are suitable to the general population and research labs to understand consumer preferences better. Recently, L’Oreal opened a new R&D facility in Johannesburg that develops products that would meet the specific haircare needs of the diverse African population. Urbanization in the African continent is another driver of the market growth in this region,” says Brijesh Kumar Choubey, a lead analyst at Technavio for research on cosmetics and toiletry.
Conditioner market in Africa
The conditioner market in Africa was valued at more than $477 million and is expected to grow at a CAGR of around 8% by 2020. The companies in the market are offering different types of products and are competing on the basis of product differentiation, product portfolio, and pricing. The vendors are focusing on synergizing the production and improving the distribution facilities to offer innovative products to the consumers. The introduction of conditioners that provide UV protection, enhances the softness of the hair, and leave-in conditioners that do not require rinsing will helping in the development of the market. Some of the most popular products in the African market include African Pride Olive Miracle Leave-in Conditioner, and African Pride Shea Butter Miracle Leave-in Conditioner.
Hair color market in Africa
The hair color market in Africa was valued at almost $223 million and is expected to grow at a CAGR of around 6% by 2020. The increasing experimentation of young population with different hair colors will lead to the growth of the market segment. Do-it-yourself (DIY) hair dye kits are popular among the general population as it helps consumers save cost on salon charges. The vendors are launching products customized for African hair and are formulated in accordance with local preferences to increase their market share and profitability. Some of the commonly used hair color products in the African market are Revlon ColorSilk Beautiful Color, Garnier Nutrisse Cremè, and Clairol Root Touch-Up.
The top leading vendors operating in the haircare market in Africa are:
- Amka Products
- L’Oréal
- P&G
- Tiger Brands
- Unilever
Other prominent vendors in the market include Avon, Combe, Conair, Estée Lauder, Godrej Consumer Products, Johnson & Johnson, Revlon, Shiseido, and TONI&GUY.
A more detailed analysis is available in the Technavio report titled, ‘Haircare Market In Africa 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Hair Spray Market 2016-2020
- Global Hair Care Market 2015-2019
- Global Professional Hair Care Market 2015-2019
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