Market Size of Latin America Hair Care Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Hair Care Market Analysis
The Latin America Hair Care market is projected to register a CAGR of 4.10% during the forecast period.
- The idea that natural substances are "better for you" has always been prevalent and deeply entrenched among Latin American consumers of cosmetics and personal care products. However, as Latin American beauty consumers become more aware and as the value of natural, organic, and/or vegan components rises globally, "fully backed" claims will become more and more important.
- Additionally, scalp care, anti-pollution, UV protection, and detoxifying treatments are becoming more and more popular among customers as a result of climate change and rising pollution. Beauty firms have an opportunity to interact with the local consumer base by utilizing personalization through products that are tailored to regional preferences and cultures.
- Under the hair care market, Latin American consumers continue to adopt a more rational approach toward purchases of hair care items. More specifically, Brazil is expected to be a highly demanding market in the region owing to its diversity, population size, and consumer engagement level. Millennials are currently adopting the global trend of self-acceptance by embracing their natural textures and curls owing to that straight hair is considered a beauty standard.
- As per the statistics given by L'oreal, more than 40% of female consumers have curly hair in Brazil, which promotes the company to launch a new product i.e. Elseve Óleo Extraordinário Cachos range (Elseve Extraordinary Curl Oil) which is introduced from curly to frizzy hair. It is prepared with coconut and some other oils which promote bouncy, ultra-soft, and shiny curls.
