The Europe luxury hair care market size was estimated at around USD 5.83 billion in 2023 and it is projected to hit around USD 13.98 billion by 2033, growing at a CAGR of 9.14% from 2024 to 2033.
The luxury hair care market in Europe stands as a dynamic and lucrative segment within the beauty industry. With a discerning consumer base that prioritizes quality, innovation, and efficacy, the market continues to witness steady growth and evolution.
The growth of the luxury hair care market in Europe is propelled by an increasing disposable incomes among consumers have fostered a willingness to invest in high-quality hair care products, driving demand for premium offerings. Additionally, the growing emphasis on sustainability and eco-consciousness has led to a surge in demand for ethically sourced and environmentally friendly formulations, reflecting shifting consumer preferences. Furthermore, the rise of personalized hair care solutions tailored to individual needs and preferences has captured the attention of discerning consumers seeking customized experiences. Coupled with the pervasive influence of digital platforms and social media, which play a significant role in shaping consumer perceptions and purchasing behaviors, these factors collectively contribute to the steady growth and dynamism of the luxury hair care market in Europe.
Specialty stores were responsible for 32% of luxury hair care product sales in 2023. These outlets serve as key drivers within the industry, offering a curated selection of products complemented by personalized assistance from store representatives. By engaging with customers on an individual level, these stores help identify specific needs and recommend suitable products from a diverse range. As competition intensifies with the entry of new market players, customers face the challenge of selecting the most appropriate product from numerous alternatives. Typically situated in urbanized areas, specialty stores cater to the needs of working professionals and students alike.
Online sales are poised for significant growth, projected to achieve a compound annual growth rate (CAGR) of 10.23% from 2024 to 2033. The appeal of online shopping lies in its convenience, privacy, and the allure of discount offers, coupled with the convenience of doorstep deliveries. These factors contribute to the upward trajectory of online sales, driving increased demand for luxury hair care products in the digital marketplace.
Shampoos held a substantial revenue share of 28% in 2023. Primarily, this market segment is driven by young consumers who view hair care treatments as an essential component of their personal hygiene regimen. With diverse hair-related concerns such as dandruff, scalp issues, dryness, and hair loss prevalent across different demographic groups, companies provide solutions through a range of shampoos and related products. Furthermore, escalating pollution levels globally and increased time spent traveling on roads further contribute to the growing demand for shampoos as consumers seek effective solutions to address hair care needs.
The demand for hair coloring products in the region is forecasted to increase at a compound annual growth rate (CAGR) of 10.24% from 2024 to 2033. This growth is attributed to heightened awareness regarding the adverse effects of chemicals found in traditional hair coloring products, driving consumers towards organic and natural alternatives. Furthermore, advancements in technology and innovation have spurred the development of new hair coloring products, aimed at replacing chemically derived options. Popular choices among consumers include Ombre, Blonde, Burgundy, Honey Blonde, Highlights, Brown, and other variations.
Luxury hair care products priced between USD 30 and USD 65 held a significant market share of 40% in 2023. Consumers often favor products within this price range for their enticing fragrances and specialized ingredients. These products are typically formulated to address specific hair concerns such as split ends or hair strengthening. Consumers commonly purchase products from this range at hypermarkets, pharmacies, and supermarkets.
The demand for luxury hair care products priced between USD 65 and USD 100 is anticipated to grow at a CAGR of 10.03% from 2024 to 2033. This segment presents lucrative opportunities, as products within this range cater to a demographic that views hair care as an integral part of their lifestyle and is willing to invest in premium products and services. This includes hair sprays and similar items enriched with ingredients like algae extract, centella asiatica (hydrocotyl) extract, caffeine, rosmarinus officinalis (rosemary) leaf extract, among others.
The luxury hair care market in the UK held a share of 22% in 2023, with young consumers exerting significant influence on the industry. In the UK, hair care is considered a crucial aspect of personal hygiene by these consumers. Hair fall emerges as a prominent concern, with approximately 70% of men experiencing excessive hair loss and thinning by age 70, and 50% of women by age 50, as reported by the Harley Street Hair Transplant Clinics. To address such issues, leading market players have been developing a range of solutions through research, development, and innovative initiatives, contributing to the market's growth and revenue.
In France, the luxury hair care market is poised to expand at a CAGR of 10.43% from 2024 to 2033. This growth is propelled by factors such as increasing demand for high-end products and enhanced innovation fueled by substantial investments. Additionally, the growing disposable income in the country enables consumers to prioritize luxury hair care products over locally available brands with similar product offerings.
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