MARKET OUTLOOK
The hair care market in Australia was expected to reach $XX million by 2025, whilst growing at a CAGR of 1.28% over the forecasting period of 2019-2025. The market was valued $XX million in the year 2018.
The growing middle-class population and its increasing disposable income, are the major drivers for the hair care market growth in Australia. The growing number of fashion-conscious consumers and the rising awareness about the importance of grooming in men are driving the growth of the global hair care market. Consumers in developed markets have become frequent users of hair care products. This has caused the demand for temporary hair color to increase.
Strong promotional activity continued to limit value growth, as discount pharmacies continued to increase their value share in the category. Priceline has been expanding its presence in Australia and improving its service offering. The retailers have started running numerous sale days offering certain discounts on the entire range of hair care, skin care, color cosmetics and fragrances, boosting volume sales, while hindering value sales on the other hand.
COMPETITIVE OUTLOOK
The companies that have been mentioned in the market report are Nature’s Organics Pty Ltd., Colgate-Palmolive Pty Ltd., Unilever Australia Ltd., Henkel Australia Pty Ltd., Procter & Gamble Australia Pty Ltd. and L’Oréal Australia Pty Ltd.