Market Forecast By Type (Product, Services), By Product Type (Shampoo, Hair Color, Conditioner, Hair Styling Product, Hair Oil, Hair Spray, Hair Gel, Others), By Distribution Channel (Online Stores, Hypermarkets, Direct Selling) and Competitive landscape
Product Code: ETC003540 | Publication Date: Apr 2023 | Updated Date: May 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Nigeria Hair Care market currently, in 2023, has witnessed an HHI of 3497, Which has increased slightly as compared to the HHI of 3445 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Nigeria Hair Care Market HHI Index Trend of Exporting Countries
Nigeria Hair Care Market report thoroughly covers the market by type, by product type, and by distribution channel. The Hair Care Market outlook report provides an unbiased and detailed analysis of the ongoing Hair Care Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Nigeria Hair Care Market is forecast to grow at a rapidly increasing rate. The primary drivers of this market include increase in the population, a growing economy, and a rise in disposable incomes. Additionally, the increasing importance of personal grooming and personal appearance and rise of social media platforms has created a new generation of women in Nigeria who are interested in styling their hair and trying new haircare products. In general, the popularity of natural ingredients has been increased among consumers, as they seek out products that are gentle on their hair. Moreover, consumers are looking for convenience haircare products that can be used at home without visiting salon. These trends present significant growth opportunities for companies operating in the Nigeria hair care industry.
According to 6Wresearch, the Nigeria Hair Care Market size is anticipated to grow at a higher growth rate during the 2023-2029. Nigeria hair care industry is growing at a rapid pace, driven by rising disposable incomes, surging population, and a growing middle class. The hair care market is expected to grow in the coming years with the expanding population and economy, as well as by the increasing demand from young consumers who are looking for premium quality hair care products. Moreover, the market is set to witness immense growth due to increasing popularity of hair extensions and growing demand for natural hair products. The Nigeria hair care market is highly fragmented, with many small local players. Furthermore, there are a few trends that are propelling the Nigeria Hair Care Market growth which includes, increasing preference for natural hair products backed by the potential health risks associated with chemical-based products. This has created significant opportunities for manufacturers of herbal and organic hair care products. Also, there is a growing trend for men to use hair care products and increasing demand for premium and luxury products to cater to the affluent section of the society.
The COVID-19 pandemic led to a nationwide lockdown and restrictions on movement, which resulted in disrupted supply chains. Thus, impacting the Nigeria Hair Care Market size to a great extent. The global outburst led to the closure of hair salons and barbershops during the lockdown. This led to an increase in DIY hair care solutions, which affected the sales of professional hair care products. The pandemic has also augmented the shift towards e-commerce in the hair care market, as consumers have turned to online shopping due to restrictions on movement.
By Product, the hair oil segment is expected to lead the Nigeria Hair Care Market share due to increasing awareness about the benefits of using natural oils for hair care. shampoo segment is expected to grow at highest growth rate during the forecast period owing to the increasing awareness of the benefits of washing hairs. This includes anti-dandruff, frizz control, and moisturizing shampoos.
According to Shivankar, Research Manager, 6Wresearch, the online stores segment is expected to grow at the highest growth rate in the forthcoming years due to the growing popularity of online shopping in Nigeria. This generally includes e-commerce platforms and online marketplaces.
The report offers a comprehensive study of the subsequent market segments:
Table of Contents |
1. Executive Summary |
2. Introduction |
2.1. Key Highlights of the Report |
2.2. Report Description |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Nigeria Hair Care Market Overview |
3.1. Nigeria Country Macro Economic Indicators |
3.2. Nigeria Hair Care Market Revenues & Volume, 2022 & 2029F |
3.3. Nigeria Hair Care Market - Industry Life Cycle |
3.4. Nigeria Hair Care Market - Porter's Five Forces |
3.5. Nigeria Hair Care Market Revenues & Volume Share, By Type, 2022 & 2029F |
3.6. Nigeria Hair Care Market Revenues & Volume Share, By Product Type, 2022 & 2029F |
3.7. Nigeria Hair Care Market Revenues & Volume Share, By Distribution Channel, 2022 & 2029F |
4. Nigeria Hair Care Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Nigeria Hair Care Market Trends |
6. Nigeria Hair Care Market, By Types |
6.1. Nigeria Hair Care Market, By Type |
6.1.1 Overview and Analysis |
6.2.2. Nigeria Hair Care Market Revenues & Volume, By Type, 2019-2029F |
6.2.3. Nigeria Hair Care Market Revenues & Volume, By Product, 2019-2029F |
6.2.4. Nigeria Hair Care Market Revenues & Volume, By Services, 2019-2029F |
6.2. Nigeria Hair Care Market, By Product Type |
6.2.1. Overview and Analysis |
6.2.2. Nigeria Hair Care Market Revenues & Volume, By Shampoo, 2019-2029F |
6.2.3. Nigeria Hair Care Market Revenues & Volume, By Hair Colour, 2019-2029F |
6.2.4. Nigeria Hair Care Market Revenues & Volume, By Conditioner, 2019-2029F |
6.2.5. Nigeria Hair Care Market Revenues & Volume, By Hair Styling Product, 2019-2029F |
6.2.6. Nigeria Hair Care Market Revenues & Volume, By Hair Oil, 2019-2029F |
6.2.7. Nigeria Hair Care Market Revenues & Volume, By Hair Spray, 2019-2029F |
6.2.8. Nigeria Hair Care Market Revenues & Volume, By Others, 2019-2029F |
6.2.9. Nigeria Hair Care Market Revenues & Volume, By Others, 2019-2029F |
6.3. Nigeria Hair Care Market, By Distribution Channel |
6.3.1. Overview and Analysis |
6.3.2. Nigeria Hair Care Market Revenues & Volume, By Online Stores, 2019-2029F |
6.3.3 Nigeria Hair Care Market Revenues & Volume, By Hypermarkets, 2019-2029F |
6.3.4. Nigeria Hair Care Market Revenues & Volume, By Direct Selling, 2019-2029F |
7. Nigeria Hair Care Market Import-Export Trade Statistics |
7.1. Nigeria Hair Care Market Export to Major Countries |
7.2. Nigeria Hair Care Market Imports from Major Countries |
8. Nigeria Hair Care Market Key Performance Indicators |
9. Nigeria Hair Care Market - Opportunity Assessment |
9.1. Nigeria Hair Care Market Opportunity Assessment, By Type, 2022 & 2029F |
9.2. Nigeria Hair Care Market Opportunity Assessment, By Product Type, 2022 & 2029F |
9.3. Nigeria Hair Care Market Opportunity Assessment, By Distribution Channel, 2022 & 2029F |
10. Nigeria Hair Care Market - Competitive Landscape |
10.1. Nigeria Hair Care Market Revenue Share, By Companies, 2022 |
10.2. Nigeria Hair Care Market Competitive Benchmarking, By Operating and Technical Parameters |
11. Company Profiles |
12. Recommendations |
13. Disclaimer |