As cited by the research report titled ‘Global Luxury Hair Care Market Size study, by Product (Shampoos, Conditioners, Hair Coloring Products, Hair Styling Products, Hair Oils, and Others), Distribution Channel (Super Markets & Hyper Markets, Departmental Stores, Speciality Stores, E-Commerce, and Others) and Regional Forecasts 2021-2027’, available with Market Study Report, global luxury hair care market was worth USD 21.14 billion in 2020 and is projected to grow with a CAGR of 6.04% to accumulate USD 31.7 billion over 2021-2027.
 

Rising issues related to hair & scalp, growing awareness regarding personal grooming, and increasing consumer spending on premium quality products are the major factors driving the global luxury hair acre market growth. Additionally, changing lifestyle and increasing urbanization are augmenting demand for luxury hair care products.
 

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Moreover, large scale production of organic hair care, coupled with rising investment in research & development of new products to cater to the evolving demands of customers are generating lucrative opportunities for the market domain.
 

As cited in a journal of Fondation de la Haute Horlogerie in 2019, the luxury goods market is anticipated to grow from USD 260 billion to USD 320 billion over the duration of 2018-2025.
 

For the record, hair care refers to activities to keep hair clean, healthy, and attractive, while premium hair care relates to high-end products.
 

Speaking of the negatives, high cost of luxury hair care products and side effects of chemicals used in the products are likely to arrest market progression over the forecast period of 2021-2027.
 

Based on product type, global luxury hair care industry is segmented into shampoos, hair styling products, hair coloring products, hair oils, conditioners, and others. Considering the distribution channel, the marketplace is categorized into e-commerce, supermarkets & hyper markets, specialty stores, departmental stores, and others.
 

On the regional front, Asia Pacific, Europe, North America, and Latin America are major contributors towards the overall industry valuation. Of these, Asia Pacific is currently dominating the market share on account of growing awareness about sustainability, and rising demand of organic luxury hair care products.
 

Meanwhile, North America market is anticipated to showcase impressive growth trends through 2027, owing to increasing consumer demand for premium hair care products, and rising online beauty commodity purchase by people in the region.
 

Prominent players influencing the worldwide luxury hair care industry dynamics are Kao Corporation, Alcora Corporation, Oribe, José Eber Hair, Seven LLC, Kérastase, Kos Corporation, Estee Lauder Companies, Rahua, and L'Oréal S.A.