Hair Care Market to Reach $20B by 2029: Report

Key Takeaways

• The U.S. hair care market is projected to grow to $20 billion by 2029, with a 4.5% compound annual growth rate (CAGR).
• Leading brands continue to drive growth through innovation and sustainability.
• Scalp care and clean beauty trends are reshaping consumer priorities.

The U.S. hair care market is projected to reach $20 billion by 2029, according to a report released by ResearchAndMarkets.com. 

The report noted that hair care remains resilient despite economic fluctuations due to consumer demand for premium and sustainable products and cited the rising popularity of clean beauty and ingredient transparency as pivotal drivers of change. Categories like scalp care and damage repair expect to experience significant growth, aligning with heightened consumer awareness of hair health. Projections suggest a compound annual growth rate (CAGR) of 4.5% over the next five years, according to the report.

"Consumer trends, particularly those favoring customization and eco-friendly options, are reshaping product development and marketing strategies across the board," the report noted. 

The report identified L’Oréal, Procter & Gamble, and Unilever as leading forces, thanks to strong brand portfolios and ongoing product innovation. Private label brands continue to gain traction, but established players maintain their edge through robust distribution channels and digital marketing strategies.

“L’Oréal’s sustained investment in research and development keeps it ahead in addressing evolving consumer needs,” the report stated.

Source: Business Wire press release. December 30, 2024.