Key vendors to focus on branding and marketing to keep pace with competition in the market
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global professional haircare market in their latest research report. This report also lists nine other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of haircare products to individual consumers and salons.
This Technavio report, under the cosmetics and toiletry vertical, is based on the synthesis, analysis, and interpretation of information about the global professional haircare market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global market for professional haircare is marked by the presence of several international vendors. Branding and marketing are essential for players to survive in this intensely competitive market space. It is imperative for vendors to distinguish their product and service offerings through clear and unique value propositions. Vendors use promotional campaigns and celebrity endorsements to gain visibility and enhance their brand value and product awareness among consumers. Brands also attempt to connect with their end-users by creating emotional and functional attachments through advertisements.
“Customized products are becoming increasingly popular in the global professional hair market. Willingness to spend on premium personalized services and advanced products among consumers is propelling the demand for retail salon products. They perceive that retail salon products sold by salons are more effective, customized for their hair and scalp problems, and of better quality than other haircare products available in retail stores,” says Brijesh Kumar Choubey, a lead analyst at Technavio for cosmetics and toiletry.
Top five vendors in the professional haircare market space
Henkel
Henkel is one of the leading players in the global beauty care, laundry, and home care markets. The company markets and sells its products through supermarkets, large-scale mass merchandisers, hypermarkets, wholesalers, and online retailers. Some of Henkel’s key markets include Australia, China, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Thailand, South Africa, Saudi Arabia, Kenya, Jordan, Argentina, Brazil, Colombia, Chile, Canada, the US, Austria, Germany, Belarus, France, and the UK. As of FY2015, the company had a reported revenue of around $20 billion.
Key products: Shampoos, Conditioners, Hair styling products, Hair colorants, and Hair straightening products.
Kao
Kao engages in the manufacture of consumer products in the beauty care, healthcare, fabric and home care, and chemicals segments. The company generates around 19% of its overall income from its human healthcare business segment. In Japan, its R&D facilities are located in Tochigi, Tokyo, and Wakayama. Apart from Japan, Kao has R&D facilities in Germany, China, Spain, and the US. The company holds nearly 16,500 patents. In FY2015, the company reported a total revenue of more than $12 billion.
Key products: Shampoos, Conditioners, Hair styling products, Hair colorants, and Hair straightening products.
L’Oréal
L’Oréal, one of the world’s leading cosmetic companies, offers a wide range of products across the globe. The company has a presence across 130 countries around the world. During March 2016, L’Oréal was recognized as a global leader in advancing the standards of ethical business practices by the Ethisphere Institute. In FY2015, the company reported a total revenue of around $28 billion.
Key products: Shampoos, Conditioners, Hair styling products, Hair colorants, and Hair straightening products.
P&G
P&G is a consumer products company that operates through high-frequency stores, e-commerce platforms, grocery stores, membership club stores, and mass merchandisers. P&G operates its business in more than 80 countries and sells its products in over 180 countries. The majority share of the company’s revenue is generated through its baby, feminine, and family care segment. In FY2015, the company reported a revenue of more than $76 billion.
Key products: Shampoos, Conditioners, Hair styling products, Hair colorants, and Hair straightening products.
Unilever
Unilever is a multinational consumer goods company that operates in the food and beverage, household cleaning, and personal care markets. Unilever has research laboratories in the US, the UK, the Netherlands, India, and China. The company’s haircare category leads the market in Brazil, India, Indonesia, Thailand, and Turkey. In 2015, it reported revenue of around $59 billion.
Key products: Shampoos, Conditioners, Hair styling products, Hair colorants, and Hair straightening products.
Other prominent vendors in this market include Avon, Cadiveu Professional USA, Combe, Estée Lauder, Godrej Consumer Products, Johnson & Johnson, Revlon, Shiseido, and World Hair Cosmetics.
A more detailed analysis is available in the Technavio report, Global Professional Haircare Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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