Chile Professional Hair Care Market demand to grow at a CAGR of 4.9% during 2019-2025-The Revert News
Chile Professional Hair Care Market attained a global value of $39.64m 2017. Furthermore, this market is projected to rise at a CAGR of 4.9% during the forecast period and is expected to attain a value of $52.82m by the end of 2023.
Chile Professional Hair Care Market Overview:
At present, the requirement for heightened sophistication coupled with convenience is acting as a trend for the beauty and cosmetics industry in Chile. These trends are making their way into the professional hair care market too. After witnessing changing patterns in consumer behavior, Chilean companies’ increased focus on enhancing consumer experience to improve sales is gaining huge traction in the industry. As a result,Chile Professional Hair Care Marketattained a global value of $39.64m 2017. Furthermore, this market is projected to rise at a CAGR of 4.9% during the forecast period and is expected to attain a value of $52.82m by the end of 2023. The report covers Chile Professional Hair Care Market Size by Product and Market size by Distribution Channel, Chile Professional Hair Care Market share by top 5 companies and also the market share by start-ups during the forecast period.
Role of Distribution Channels in Chile Professional Hair Care Market
Chilean women usually buy beauty and hair care products from conventional grocery stores, pharmacies, and drugstores; and are less inclined towards making separate visits to beauty and hair products specialist stores. Therefore, direct sales are the major source of revenue for the professional hair care industry of Chile. This is leading manufacturers to rely on retail chains such as Intersalon and Walmart to enhance sales.
With the rising digitization, e-commerce sales are gaining significance around the world. Globally, online shopping experiences of beauty and hair care products are becoming more seamless with the interactive innovations of virtual reality and AI. But the growth is yet to reflect in Chile professional hair care market, as the country is less populated and has a strong presence of physical retail stores. This reflects low expectations on the e-commerce experience of the hair care products. Thus, the professional haircare market in Chile has significant opportunities to enhance further.
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Hair Coloring Segment Surging in the Chile Professional Hair Care Market
Color cosmetics consumption is rising at a faster pace throughout Latin America, including hair dyes in Chile. Chilean men and women prefer to experiment with their appearance every now and then. Hair color products with the ability to lighten, darken, and enhance the natural hair color are seeing increased demand. Besides, the hair color products which highlight or lowlight hair strands as per the customer’s demand or cover gray hair are gaining prominence in the Chilean hair color market. In addition, consumers’ increasing awareness with regard to the choice of ingredients’ is boosting the growth of paraben and ammonia-free hair coloring products. While the permanent hair color market held the largest share in 2017, semi and demi-permanent hair color segments witness highest growth rates during the forecast period of the hair color market of Chile. Owing to these factors, the hair coloring market of Chile is anticipated to grow at a CAGR of 4.4%, and attain a value of $25.77m by the end of 2023.
Professional Shampoos and Conditioners Market of Chile are in Demand
Shampoos and conditioners containing fewer chemicals are gaining demand in the professional haircare market. Owing to high levels of heat and pollution in Chile, hair treatment shampoos to promote hair growth, prevent dandruff and hair fall are gaining popularity in the country. To deal with this, salons are stocking different hair treatment shampoos such as those which provide keratin treatment, which is gaining consumer traction. In addition, dry shampoos are also gaining prominence in the professional hair shampoos and conditioners market. As a result, the shampoo and conditioning segment attained a valuation of $16.73m 2017 and is projected to grow at a CAGR of 5.4% during the forecast period.
Chile Professional Hair Care Market Growth Drivers
• Hair Treatment Services Set to Drive Growth of the Market
Elevated pollution levels combined with high levels of chlorine and fluorine in the Chile water, especially in urban centers is resulting in high levels of hair damage. This is leading consumers to identify the importance of hair treatment products for treating specific hair conditions. These diverse requirements from consumers are driving new product launches in the hair treatment services of professional salons, which is set to fuel growth for the Chilean professional hair care market.
• Organic and Natural Hair Care Products on the Rise
Growing concerns about hair and scalp health in Chile has amplified demand for intensive hair treatments that result in healthy hair growth. A large number of consumers recognize that chemical-free organic and natural hair care products which repair and treat hair conditions are necessary for healthy hair. These eco-sustainability factors are driving attention towards natural hair care products which contain ingredients which reduce the hair damage such as rosemary, Shea butter, and argan oil.
• Changing Demographics and Women in the Workforce Boost the Professional Hair Care Market
In 2018, the population above 25 and over accounted for about 65.39% of the total population, with persons aged above 55 years accounting for about 22.54% of the total population. A predominant share of the aged population is inclined towards visiting hair salons for the application of hair colors. This aspect is fueling demand for the hair coloring market.
A major share of the female population in Chile have recently joined the workforce. Thus, increased grooming for socialization and career enhancement purposes is driving the growth of the professional haircare market in Chile.
Chile Professional Hair Care Market: Growth Drivers and Trends
• Grooming Services by Men Are Propelling Market Growth
Chilean men started to spend consistently on beauty and cosmetics. Increasing consciousness of beauty and fragrances are leading to increased visits to hair salons by Chilean men. Besides, hair gels sales are expanding led by huge demand from Chilean men. Moreover, sales of at-home hairstyling and hair care products are rising owing to interest from male consumers.
• Mobile Applications Influencing Sales of Chile’sHair Color market
Chileans have a keen eye in choosing hair dye colors. This is leading market players to launch new products and promotional strategies. There are few mobile applications which enable the consumer to test a hair color before they actually dye their hair. These kind of trends are generating huge traction on social media, as well as in the professional hair color market of Chile.
• Social Media Marketing to Engage Potential Customers
Creating brand loyalty, and spreading awareness about new product launches and services are customer engagement strategies commonly followed in the personal care and cosmetics market. Professional hair care salons and local market players in Chile are using social media as a communication tool to create an interactive relationship with followers. They are utilizing promotional tools including discounted deals, giveaways and contests while talking about distinct trends in the hair care market. Along with that, they share relevant hair care tips and the latest trending hashtags on social media which are boosting the sales of the professional haircare market.
Chile Professional Hair Care Market: Major Players
Some of the key companies identified in the Chilean professional hair care market include L’Oreal Group and its multiple brands, Elgon, Pidielle Srl, Procter and Gamble Co., Silkey Mundial, and Davines Group. Major manufacturers are launching new products which reflect the changing trends and styles as per the season.
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