Acquisitions Like That of Fresh Heritage by Branded Group to Propel the Growth of the Global Men’s Hair Care and Styling Products Market

Men’s hair care and styling products are products that aid in maintaining the quality and health of the hair together with style of the hair in preferred form for men. The hair care products in men comprise of an extensive range of products such as such as hair serum, mask, shampoo, conditioner, oil, dry shampoo, and others. Contrastingly, the hair styling products for men include hair gel, cream, wax, spray, pomade, clay, styling power, paste, and others. These products are widely used by men to make their hair look glossy, shiny frizzle-free, and attractive.

Forecast Analysis of the Men’s Hair Care and Styling Products Market

Significant surge in hair pattern hair loss across the globe is expected to drive the growth of the market. In addition, growing concerns about alarming hair problems such as dandruff, greyness of hair, and other are expected to bolster the growth of the men’s hair care and styling products market during the forecast period 2021-2028. Moreover, growing prevalence of organic hair care products across the globe is expected to create tremendous opportunities for the growth of the market. However, presence of harmful constituents in haircare products is expected to impede the growth of the men’s hair care and styling products market.

According to the report published by Research Dive, the global men’s hair care and styling products market is expected to garner a revenue of 43,910.1 million by 2028, growing exponentially at a CAGR of 3.2% during the forecast period 2021-2028. The major players of the market include Baxter of California, American Crew, Redken Brews, Old Spice, Dove Men, Hanz de Fuko, Malin+Goetz, Harry's, Jack Black, Axe, and many others.

Key Developments of the Market

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global men’s hair care and styling products market to grow exponentially.

For instance, in January 2022, Branded Group, a New York- and Paris-based operator of digital-first consumer brands, acquired Fresh Heritage, a premium men’s haircare, personal care, and grooming brand, in order to rapidly scale operations and reach to strengthen Branded Group’s presence in the global men’s haircare and grooming products market, and transform Fresh Heritage into a powerhouse personal care brand for men of color.

In January 2021, Mast Hair, a Canada-based men’s grooming and haircare brand, launched its line of men's cruelty-free grooming essentials made travel-friendly. These new range of men's hair care products come in slim, biodegradable packaging made to be stored easily into pockets, luggage or gym bags. Their new range of products include Black Pepper Styling Paste, Peppermint Texturizing Shampoo, and Black Pepper Beard Oil.

In June 2020, Marico Limited, an Indian multinational consumer goods company providing consumer products and services in the areas of health, beauty and wellness, acquired Beardo, a men’s grooming and haircare brand, in order to maximize Marico’s presence and market share in men’s grooming and haircare market.

COVID-19 Impact on the Men’s Hair Care and Styling Products Market

The outbreak of coronavirus has had an adverse impact on the growth of the global men’s hair care and styling products market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns led to the largescale closure of numerous manufacturing facilities including those of the consumer products industry which resulted in global supply chain disruptions and demand supply variance. Thus, COVID-19 has had a negative impact on the growth of the market but persistent launches of innovative and comprehensive range of men’s hair care and styling products is expected to recover the growth of the market.

Most Profitable Region of the Men’s Hair Care and Styling Products Market

The North America region is expected to dominate the global market, and generate a revenue of $23,491.9 million during the forecast period. Growing demand for premium hair care solutions among men in this region is expected to drive the growth of the market. In addition, massive presence of haircare companies in this region is further expected to accelerate the growth of the regional men’s hair care and styling products market during the forecast period.