Opportunity knocks for hair care ingredient suppliers
Last year the total amount of ingredients used in hair care globally amassed to 941,000 tonnes, with surfactants accounting for 11 percent of this.
As the market grows, there is a growing trend of ‘individualized’ products that either care or repair hair, according to Euromonitor.
Multi-functional products
This is leading to growing consumer demand for hair care products that also provide sun protection, anti-aging, prevention to hair loss, anti-dandruff, strengthening, moisturizing and anti-frizz, which the market researcher claims will open up opportunities for ingredient players.
This is because more specialized ingredients are now being incorporated into hair care formulations such as UV filters being added to shampoos and conditioners to combat the damaging effects of the sun on the hair.
As a result, sunscreen volumes within hair care are expected to reach 186 tonnes in 2015. Conditioning agents are also gaining ground in hair care, according to Euromonitor, as consumers seek more conditioning products outside traditional ones, including shampoos with conditioning benefits.
Function leads to fragrance importance
As a result of the growing functionality trend, fragrances are now being utilized to help position a product around specific functions, such as nourishment, in the mass and prestige hair care market.
For example, Garnier recently launched its latest anti-dandruff line in the US with a mint aroma as US consumers associate mint with cleanliness and efficacy.
Despite the focus on function, Euromonitor still believes there will be growth opportunities for fragrances within hair care, as both shampoos and colorants are expected to grow by 1 percent in volume terms between 2010 and 2015, as these categories develop globally.
On top of this, as consumers continue to demand more from their hair care products, Euromonitor is also urging ingredients suppliers and manufacturers to find the right balance between function and fragrance and, more importantly, ensure that their products provide the added benefits claimed on labels.
