Market Trends of North America Hair Loss Treatment Products Industry
Increasing Expenditure on Hair Care Products in United States
The market has seen an increase in the number of millennials experiencing hair loss as a result of changing lifestyle patterns, as well as an increase in stress levels among working-class women, which is expected to drive demand for hair loss treatment products as well as other hair care products. Furthermore, growing consumer awareness about hair loss treatment products via social media, magazines, and TV advertisements encourages them to purchase various hair loss treatment products. During the study period, such factors are expected to drive market growth. Hair loss is a critical issue in the overall hair care industry among men and women who have androgenetic alopecia, or common male pattern baldness (MPB) and have been suffering from hair loss for a long time.
According to American Hair Loss Association, by the time American men turn 35 years old, two-thirds of them have noticeable hair loss, and by 50, 85% of men have significantly thinned hair. In contrast, women account for 40% of hair loss sufferers in the United States. Currently, approximately 3% of all pediatric office visits in the country are attributed to child hair loss. A consumer in the United States spent around USD 77.17 per person the last year on hair care products, including hair loss treatment products.
United States Remains the Largest Market
Changing fashion trends and a rise in awareness of the availability of new, more effective, and safer hair loss treatment products have led to a significant increase in the use of these products. At present, consumers use hair care products not only to protect their hair and scalp and cover gray hair but also to look presentable or to enhance aesthetic appeal. The demand for new and innovative hair loss treatment products and consumers' willingness to pay more for these innovative products is increasing. This is encouraging manufacturers to launch advanced hair loss treatment products in the country.
The growing demand for natural and organic hair care products in the country has encouraged manufacturers to introduce plant-extracted colors, and this is expected to drive the market's growth. For instance, in February 2021, Native, a US-based personal care brand, launched a naturally derived hair care product range. The product range includes cucumber and mint volumizing shampoo and conditioner; coconut and vanilla moisturizing shampoo and conditioner; and almond and shea butter strengthening shampoo, conditioner, and hair mask.
