The professional hair care market in Latin America is anticipated to grow at a CAGR of 5.49% from 2024 to 2029 and the regional market size is expected to be worth USD 2027 million by 2029 from USD 1551 million in 2024.
The growing air pollution and lousy eating habits among the residents have escalated the damage affecting the hair. Furthermore, the demanding life poised by the use of work, education, and household features has elevated hair damage globally. Augmented truth technological start-up Modiface innovated the deep gaining expertise of technological knowledge, especially based on video hair coloration simulation and tracking. According to the company, improvements in neural networks, hardware stage optimization, and availability of ample extent to training datasets have made this photo-realistic coloration and video hair monitoring possible. This improvement in the coloration strategy is projected to entice wants on a massive scale.
The primary restraint affecting the market is the easy availability of choice merchandise in Latin America. The involvement of hazardous chemical substances to soften the hair is additionally one of the essential restraints that hamper the Latin American professional hair care market. Improper illustration of ingredient lists for merchandise will impede income in the Latin American Professional Hair Care market. Regulations concerning the use of certain substances in hair care merchandise may also prevent market growth.
By product, the shampoos phase accounted for the incredible expert haircare market share in 2021 and it has been envisioned to proceed to be dominant at some factor in the contract period. This is attributable to the fact that shampoos are tailored according to variations associated with hair quality, age, hair care preferences, and specific scalp-related problems, which appreciably will extend the demand for shampoos.
By distribution channel, the salon part accounted for the most specialist haircare market share in 2021. Consumers choose a pre-purchase suggestion from hairstylists owing to their deep knowledge of product compatibility and appreciation in the hair care field, which augments the demand for professional merchandise from salons. However, over the preceding decade, there has been a massive enlargement in internet penetration, mainly in the Latin America Professional Hair Care Market. Consumers now count on the internet to gain records and assume online shopping is the most reachable factor. Thus, most of the key producers have long gone online and have created their very personal internet portals for merchandising products. Thus, an upward jostle in net penetration creates a chance for specialist haircare market growth.
The Latin America Professional Hair Care market has been elaborated in a range of areas all around the world as the Latin America location holds the fundamental share of the market due to the upward jab in supermarkets and hypermarkets subculture in the region and quick upward thrust in the extend of investments and enhancement in some of the rising economies such as the Brazil and Argentina. Latin America cash owed for the best Share in the Overall Professional Hair Care Market. Brazil's professional hair care market has been leading the dominant shares of the market for the past few years. The growing population and rising prevalence of new hairstyles are propelling the growth rate of the market in this country.
L’Oreal, Procter & Gamble has the biggest share in the Latin America Professional Hair Care market. The key gamers running in the Professional Hair Care enterprise are L'Oréal, S.A, Henkel AG & Co., Unilever Corporation, Procter & Gamble, Shiseido Company, Unilever, Revlon, Kao Corporation, Aveda Corporation (Estée Lauder), Avon Products Inc.., Tony & Guy, However, the market panorama has been modified owing to the interruption of technical giants leaping into the technological expertise with the aid of acquiring some of the most promising start-ups.
Frequently Asked Questions
The market experienced a temporary downturn in 2020 due to lockdowns and reduced salon services but is recovering steadily.
The Latin American professional hair care market was worth USD 1394 million in 2022.
Brazil and Mexico are the leading countries with the largest market shares in Latin America.
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