Professional hair care product market in Hong Kong is estimated to reach $62.25million by 2020
Hong Kong Professional hair care product market is estimated to grow at a CAGR of 2.9% during 2015-2020
Press Release - Aug 13, 2015 (PRnob.com) - Professional hair care products study scope covers products used for back bar services and retail sales as well. Back-bar products are used for services in the salon while retail sales include over-the-Counter or take-home products and sales made through retail formats such as specialty stores, pharmacy stores, online stores and others. The professional hair care product market has been segmented based on the product categories such as; coloring, perming & straightening, shampoo & conditioners and styling. Professional hair care product market in Hong Kong is estimated to reach $62.25million by 2020.
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Hong Kong is highly urbanized country and is a rapidly growing economy. Hong Kong GDP in 2014 was valued at $292.6 billion and is estimated to reach $436.5 billion by 2020.Hong Kong cosmetics market is characterized with presence of international brands, rising preference to organic and anti-ageing products. Median age group in Hong Kong is 43.2 which results in high demand for hair treatment products. Most of the consumers visiting the salons belong to the age group of 20-35 years. Additionally, consumers are preferring products with natural extracts that deliver additional benefits. GDP per capita income is estimated to grow at a CAGR of 7.56% during 2015-2020. Favorable economic conditions and growing beauty concern especially among females will fuel the market growth during 2015-2020.
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Shampoo and conditioning segment held the dominant share in the professional hair care product market in Hong Kong largely driven by the high demand for treatment products such as Argan, Moroccan and methic oils. Hair styling is projected to witness substantial growth mainly due to the increasing awareness on hair styling trends.
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The market is dominated by international companies such as L’Oreal Group, P&G, Kao Corporation, Henkel AG & Co., Shiseido Co. and World hair cosmetics ltd. L’Oreal Group with its professional brands, L’Oreal Professionnel, Matrix, Redken and Kerastase are the dominant players in the professional hair care market of Hong Kong.L’Oreal group is expected to continue its dominance with rising demand for Inoa and Kerastase products from luxury salons.
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China Professional Hair Care Market by Categories (Coloring, Perming & Straightening, Shampoo & Conditioning & Styling); Sales Channel (Back Bar and Take Home) & by Company (2015 - 2020)
Singapore Professional Hair Care Market by Categories (Coloring, Perming & Straightening, Shampoo & Conditioning & Styling); Sales Channel (Back Bar and Take Home) & by Company (2015 - 2020)
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Aug 13, 2015