Mexican Hair Care Market Outlook
The Mexican Hair Care Market size was valued at USD XX Billion in 2022 and is likely reach to USD XX Billion by 2031, expanding at a CAGR of 4.82% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing purchasing power. Moreover, rising concern toward hair health is driving the growth of the market.
Social media trend has become one of the prime reason for the growth of the market. Haircare routine differentiates in accordance to culture and physical characteristics. It improves the health of hair and scalp, which can reduce issues such as hair dandruff and hair fall.
Mexican Hair Care Market Drivers, Restraints, Trends, and Opportunities
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Changing fashion trends and rising awareness about the availability of effective haircare products are expected to proliferate the growth of the market.
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Increasing competitiveness in the haircare market owing to rising number of manufacturers and reducing profitability margin can restrain the growth of the market.
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The COVID-19 crisis led to the closedown of retail and salon stores, weakening the sales of various beauty and personal care products in the global market. This, in turn, has hampered the growth of the market. However, relaxation in restriction is expected to help the market recover soon.
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Rapid growth in the e-commerce activities due to increasing penetration of Internet and presence of major e-commerce stores are anticipated to create lucrative opportunities for the industry players during the forecast period.
Scope of Mexican Hair Care Market Report
The report on the Mexican hair care market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mexican Hair Care Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Shampoo, Conditioner, and Others) and Distribution Channels (Hypermarkets/ Supermarkets, Convenience Stores, Specialty Stores, Online Channels, and Others)
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Proctor and Gamble, Unilever, Loreal SA, Johnson & Johnson, and GENOMMALAB
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Mexican Hair Care Market Segment Insights
Shampoo segment to account a large market share
Based on products, the market is classified as shampoo, conditioner, and others. The shampoo segment is projected to account for a large market share during the forecast period. The segment growth is attributed to availability of vast product range being manufactured and marketed for each age group, dealing with different hair conditions.
Manufacturers are increasingly broadening their product portfolio to incorporate the specific requirement for consumers, such as dandruff, hair fall, oily hair, dryness of hair, and itchiness. Moreover, rising awareness about the benefits of using personal care products made from herbs and other natural ingredients is encouraging people to switch toward herbal and plant-based shampoos over conventional offerings.
On the other hand, the specialty stores segment is anticipated to grow at a steady rate in the projected timeline.
Online channels to account a significant market share
On the basis of distribution channels, the market is divided as hypermarkets/ supermarkets, convenience stores, specialty stores, online channels, and others. The online channel segment is projected to account for a significant market share during the forecast period.
Rising consumer preference for online shopping owing to immense convenience offered by the e-commerce stores is driving the segment growth.
The COVID-19 outbreak has persuaded to shop online to mitigate the spread of the virus. Additionally, the presence of attractive discounts and rising disposable income are further boosting the segment growth.
Manufacturers are progressively opting e-commerce to retail their product offerings, as it provides more visibility and increase their presence in lesser developed areas of the country. Some of the online retailers active in the Mexican market are Walmart, Amazon, Mercado Libre Mexico, Coppel, and Liverpool.
Segments
Products
- Shampoo
- Conditioner
- Others
Distribution Channels
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty Stores
- Online Channels
- Others
Key players
Competitive Landscape
Some of the major players in the market are Proctor and Gamble, Unilever, Loreal SA, Johnson & Johnson, and GENOMMALAB.
The haircare market in Mexico is highly competitive with a major share being held by Procter & Gamble. Key players are focusing on online distribution channels to enhance their product visibility and consumer base.
The market leader Procter & Gamble has been doing several developments in the market, primarily focusing on packaging innovation, in order to provide customers with convenient size variants of the desired product.
Companies are focusing on developing natural products to gain huge traction among customer base. Moreover, they’re engaging in partnerships with major e-commerce stores and are collaborating with local manufacturers to leverage their market position.
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