Feb 12, 2021/IndustryNewsGlobal/--The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Hair Relaxer Market.
It was estimated prior to this unanticipated outbreak Hair Relaxer Market will reach CAGR of 2.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Hair Relaxer Market Insights
Hair Relaxer Market is likely to witness a CAGR of 2.5% during the forecast period. The prime factor that are driving the hair relaxer market is the rising consumer demand for styling hair from curl to straightening. Further, rising disposable income of consumers in emerging economies along with rapid urbanization is the factor likely to boost the growth of the market.
Market Share Analysis
Hair Relaxer Market Share: By Distribution Channel Type
Based on the distribution channel type, the market is segmented as supermarkets, convenience stores, online stores, and others. The supermarket segment dominated the market in 2020 and is expected to maintain its position during the forecast period. Expansion of supermarkets across the globe along with availability of a wide range of products is the major factor driving the growth of the segment. Online store is likely to witness the highest growth during the forecast period.
Hair Relaxer Market Share: By Region
In terms of region, Europe is estimated to be the largest market for hair relaxer during the forecast period. Well established distribution channel, huge consumer base, huge disposable income of consumers, and wide range of products are the major factors leading to the dominance of Europe in the global market. Asia-Pacific is expected to witness the highest growth during the forecast period. China, Japan, South Korea, and India are the driving force of the region’s market.