The Chinese haircare sector is expected to expand from $ 11.4 bn in 2019 to $ 14.2 bn in 2024, marking a jump of 4.3% CAGR. In fact, China has the largest market for haircare in Asia Pacific. According to a GlobalData report, the shampoo in the hair care category, had the maximum share of 71.4% in value terms, followed by hair conditioner and hair colour.
Salon haircare is expected to have the fastest value growth rate at 8% in this period. Brands including Unilever, P & G, Beiersdorf Ag are the main players in the Chinese haircare sector with P & G’s Head & Shoulders, the leading brand in value in 2019.
The report also showed that there is an increasing demand for high-end and premium products amongst the youth, which has led to the increase in demand for high-end haircare brands. There is also an increased focus on natural ingredients that are free from chemicals too.