Market Size of Brazil Hair Care Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.92 % |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Brazilian Hair Care Market Analysis
The Brazil Hair Care Market size is expected to grow from USD 6.06 billion in 2023 to USD 7.70 billion by 2028, at a CAGR of 4.92% during the forecast period (2023-2028).
The rising incidence of hair problems such as hair loss, hair damage, and other hair-related products has significantly impacted the market with consumers' inclination towards using various hair care products such as hair oil, shampoo, and other products that claim to contain functional ingredients that assist in maintaining hair health.
Despite the economic slump and recession-like environment for its people, Brazil continues to dominate the hair care market drive in Latin America, followed by Mexico and Argentina. A slowing Brazilian economy, stagnant economies, rising cost of products, and some other key factors are the challenges in the hair care market of Brazil.
Due to the rise in hectic schedules and lifestyles, online shopping is becoming a convenient medium for purchasing daily essentials, including hair care products. It is gaining more popularity among millennials and work professionals. Moreover, the ease of use of different online shopping applications as per the convenience of the consumers and the use of applications in smartphones and other devices is increasing the sales of hair care products through online retailers. For instance, the products available via online retail stores often carry offers that allow customers to buy the product of their choice at a lesser price than in single stores.
