The hair care market consists of products used for taking proper care of hair. These products support the growth of hair and prevent damage. They maintain healthy hair and improve their surface and features. Hair care products are composed of natural or artificial constituents, blended with other supplementary materials, like agents, stabilizers, emulsifying agents and surfactants.
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Hair care is mostly carried out by hair experts at salons or individuals at home. Hair care products vary according to the requirements of hair and kinds of the same. Escalating demand for products, like shampoos, colorants, serums, hair styling gels, hair accessories, hair sprays, etc is propelling further demand for the hair care market. These products ensure healthy, strong, smooth and shiny hair.
Growing demand for hair containing all these traits also steers the hair care market further. Augmented scalp and hair issues, boost in promotional and endorsement crusades regarding hair care products and escalating hair care advancements are the other factors which drive the market. Boost in disposable earnings of clients and amplified investments on hair care products also steer the hair care market ahead.
Apart from the driving factors mentioned above, eye-catching packaging, augmented tendencies towards hair care and rising consciousness among clients regarding hair care and its products also drive demand for this market. However, high expenditures involved in the purchase of hair care products and global financial downturn are the two factors which slow down the progress of the hair care market.
North America dominates the hair care market. Europe follows the former and occupies the second spot.
Hair Care Market Share
Information Source: Radiant Insights
The luxury goods market has been witnessing an upward trend for the last many years. This market includes fashion accessories, drinks, cosmetics, perfumes, watches, jewelry, handbags, etc. These things cater to the requirements of rich people and are considered very superior in quality. The luxury goods market has a forecast period from 2014 to 2020.
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It has been experiencing high expansion owing to the adding up of new high-net value clients. The luxury goods market is sliced into two major categories. These include types and geographies. The types market consists of apparels and leather goods, luxury watches and jewelry, luxury personal care and cosmetic products, perfumes, wines/champagnes and spirits and others.
Others consists of luxury pens, tableware, etc. The luxury goods market is estimated to grow reasonably through the forecast period. However, the regions, Asia Pacific and rest of the world are anticipated to rise healthily on account of primary modifications in the lifestyles of customers in these regions. Moreover, clients in the aforementioned regions are also totally conscious about various fashion trends.
This factor pushes further development of the luxury goods market. Both these regions are projected to expand quickly from 2014 to 2020. The market was predicted to have collected around USD 296 billion in 2013. It is projected to attain about USD 375 billion by 2020. The market is all set to register a decent CAGR during the forecast phase.
It faces certain obstacles in the forms of wavering fiscal conditions in certain regions of the world and depreciation of currencies in developing economies. North America is observing steady expansion.
Luxury Goods Market Share
Information Source: Radiant Insights