Market Size of Hair Gel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hair Gel Market Analysis
The hair gel market is projected to register a CAGR of 5.2% over the next five years.
- Hair gel is an essential product for hair maintenance and has consistently been purchased by consumers globally, driving the market growth. These gels come in varying ingredients, fragrances, and packaging, opening up opportunities for product innovations and launches and further augmenting market growth.
- The advent of new technologies, such as smartphones, personal computers, the internet, e-commerce, social media, communication strategies, and marketing campaigns, has transformed the landscape of advertising and promotion. Influencer marketing on social media has become a popular tactic for brands to influence consumers, and motivate advertisers and marketing practitioners to modify their brand engagements in the digital environment.
- According to the World Population Review, India, with a penetration rate of 43% of the country's total population, has one of the highest numbers of Internet users, with 658 million as of January 2022. This presents a high potential for manufacturers to market their products through online advertising, such as social media marketing. Leading hair gel companies like L'Oréal, Unilever, and Procter & Gamble use social media platforms like Instagram and YouTube to launch new products and engage with consumers through tutorials and marketing initiatives.
- Brands are heavily investing in advertising and marketing promotions to attract a broader consumer base, such as L'Oréal, which spent around EUR 10.59 billion (USD 11.79 billion) on advertising and promotion in 2021, up from EUR 8.65 billion (USD 9.64 billion) in 2020, and Unilever, which invested EUR 6.84 billion (USD 7.61 billion in brand marketing in 2021.
- Europe and North America hold dominant positions in the global hair gel market during the study period. Various factors, such as the increase in grooming culture, different styling patterns, and growing enthusiasm to look good for longer hours, especially among younger age groups, are projected to positively impact market growth during the forecast period.
