According to a new report, the Brazilian professional hair care market is set to reach $589.4 Million by 2020, growing at a CAGR of 2.3 per cent.
Hair care behemoth L’Oreal Professional, with its brands Matrix, Redken and Kerastase, dominate the market, while other competitors for market share include Alfaparf, Schwarzkopf, Wella Professional, Itallian Hairtech and Keune. Indeed, in 2014 the top five companies accounted for more than 55 per cent of the hair care market.
In other news shampoo, conditioner and hair treatments dominate as the largest segment in the professional hair care market, while the hairstyling product segment is the fastest growing segment in the market. Another fast growing section is ingredients using natural products, with Moroccan Oil, Macadamia Oil and Kerastase all widely used by hair stylists and consumers.
Hair colouring is said to the most favoured service in Brazil, with hair straightening and smoothing a close second, with Brazilian consumers preferring to have straight hair. The effect of repeated use of the chemicals used to achieve these results, also drives the market for treatment services and related products, such as leave on conditioners, masks, oil and serums.