As consumer trends drive innovation and purchase behavior it is increasingly vital to understand how to shape products to best meet them. This brief outlines the most important consumer and product trends impacting the haircare category globally, using Canadean's TrendSights mega-trend framework as a basis to organize the key themes covered.
- Consumer insight analysis covering 25 countries globally highlights the key attitudes and behaviors driving consumers' purchase of haircare products.
- Case studies and numerous product examples throughout the brief showcase best-in-class innovations in haircare products from across the globe.
- Key considerations and potential opportunities have been identified based on consumer preferences and recent product innovations in this category.
- How do Canadean's mega-trends apply specifically to haircare? How is this likely to evolve over the next few years?
- Where is innovation occurring in haircare and what does it look like?
- Going forward, what are some of the potential opportunities and key considerations for haircare manufacturers?
In 2013, the global haircare market was valued at $54.3bn, with the fastest-growing categories being hair colorants and conditioners, as consumers continue to opt for at-home colorants rather than more expensive salon treatments, and seek products that offer greater hydration and moisturization benefits for the hair.
Consumers continue to look for more efficient products as they strive to promote the health and appearance of their hair. "Hairceutical" products, which are inspired by clinical treatments and pharmaceutical ingredients, offer more complex and medically inspired haircare solutions.