At 6.2% CAGR, Hair Towel Wrap Market Size & Share to Surpass US$ 453.88 Million by 2028 | Global Industry Analysis, Trends, Demand, Value & Forecast Report by The Insight Partners
The Insight Partners
11 min read
The Insight Partners
Hair Towel Wrap Market is projected to reach US$ 453.88 Million by 2028 from US$ 315.56 Million in 2022. It is estimated to grow at a CAGR of 6.2% from 2022 to 2028. In-depth market segmentation, deep dive regional and country level analysis of 18+ countries across 5 key regions, key company profiles and industry landscape to provide latest market initiatives and competitive landscape, impact of COVID-19 pandemic on ecosystem.
New York, July 15, 2022 (GLOBE NEWSWIRE) -- The Insight Partners has published a new research report titled Hair Towel Wrap Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material Type (Natural Fiber and Synthetic Fiber), Distribution Channel (Supermarkets and Hypermarkets, Specialty Store, Online Retail, and Others), and Geography. Increased hair health consciousness among consumers and various benefits provided by hair towel wraps are driving the hair towel wrap market growth. However, the increasing demand for regular towels is restricting the market growth.
North America; Europe; Asia Pacific; Latin America; MEA
Country scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Hair Towel Wrap Market: Competition Landscape and Key Developments
Kitsch LLC; Aquis Hair Sciences Inc.; The Natural Sea Sponge Company Ltd.; Supernova Pte., Ltd.; Silke London; Bouclème Ltd.; Turbie Twist LP; The Perfect Hair Care Holding Corporation; Evolatree; Curly Girl; The Bath Accessories Company; VOLO Beauty are a few key players operating in the hair towel wrap market. Leading market players adopt various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world.
In 2021, North America dominated the hair towel wrap market, and it is expected to be a dominant shareholder in the market during the forecast period. The rapidly changing lifestyles owing to the increased hair health consciousness in countries such as the US and Canada are driving the market in North America. Further, the increased presence of hair towel wrap manufacturers has led to the development of innovative products using different fibers, is becoming an upcoming hair towel wrap market trend.
Various benefits of hair towel wrap such as, moisture retention, frizz prevention, and water absorption are gaining consumer attention. Moreover, the increasing awareness about hair care and the rising number of spas and salons, and beauty parlors are propelling the growth of the hair towel wrap market during the forecast period.
The increased hair health consciousness among the consumers, mostly in North America and Europe, is driving the hair towel wrap market growth. The shift in consumers' lifestyles and rising stress levels in the working population have resulted in various hair health issues. Hair loss, dry hair, frizzy hair, and hygral fatigue are a few common hair health problems. Further, hair loss can also happen due to improper hair drying techniques such as rubbing the hair. Consumers' rising hair health consciousness has shifted their focus to using hair towel wraps. Hair towel wraps gradually absorb the moisture from hair without the rough hair rubbing. Different fibers are used to manufacture hair towel wraps which help in gently drying the hair and reducing hair problems such as hair loss, dry hair, and frizzy hair. Thus, high hair health consciousness among consumers is driving the hair towel wrap market.
Based on material type, the market is bifurcated into natural fiber and synthetic fiber. In 2021, the synthetic fiber segment held the largest hair towel wrap market share. Different types of synthetic fibers are being used to manufacture hair towel wraps, including microfiber, polyester, and satin. The synthetic fabrics are more water- and stain-resistant than natural fibers. Some have even been improved specifically to withstand damage from stains or water.
Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2021, the supermarkets and hypermarkets segment held the largest market share. Supermarkets and hypermarkets are huge retail establishments offering an extensive range of products, such as groceries, personal care, and household products. These stores provide hair towel wraps of various brands at reasonable prices, allowing shoppers to find the right product quickly. Due to their heavy customer base, manufacturers of hair towel wrap usually prefer to sell their products through supermarkets and hypermarkets. An increase in urbanization, a rise in the working-class population, and competitive pricing boost the popularity of supermarkets and hypermarkets in developed and developing countries.
Based on the distribution channel, the hair towel wrap market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2021, the supermarkets and hypermarkets segment held the largest hair towel wrap market share. Supermarkets and hypermarkets are huge retail establishments offering an extensive range of products, such as groceries, personal care, and household products. This store provides hair towel wraps of various brands at reasonable prices. Moreover, these stores offer attractive discounts, multiple payment options, and a pleasant customer experience. Manufacturers of hair towel wrap usually prefer selling their products through supermarkets and hypermarkets—such as Walmart, Aldi, and Tesco—owing to heavy customer footfall, large customer reach, and wide distribution network.
The global hair towel wrap market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2021 and is expected to record the highest CAGR during the forecast period. The overall rise in the women working population has led to an increased demand for personal care products, including hair care, which is providing growth opportunities for the hair towel wrap market. People are becoming more conscious about healthy hair, resulting in an increased demand for hair towel wraps as it imposes less strain and friction while drying the hair, leading to less damage and breakage of hair. Europe was the second-largest market for hair towel wrap in 2021.
In 2021, North America accounted for the largest share of the global hair towel wrap market. The major factor driving the demand for hair towel wraps in this region is the high awareness levels among the population on using the appropriate hair care products.
Hair care products help to uphold hair health and cleanliness and protect them from damage. Consumers are becoming very selective about which products they use and are more concerned about the effect that products have on their hair, as well as the environment. With increasing awareness of what goes into their hair care products, informed consumers link efficacy with ingredients.
This increasing awareness has made way for a plethora of hair care products. Consumers face various hair issues such as hair loss, dry hair, hygral fatigue, and frizzy hair. Hair surfaces tend to get more damaged due to incorrect drying techniques, such as using hair dryers, which results in less moisture content than required. This excessive moisture loss causes damage to the hairs. However, hair towel wrap manufacturers are introducing innovative products which do not overdry hair and helps retain moisture.
Widespread adoption of hair towel wrap in many commercial areas such as salons and spas, hair care clinics, and beauty parlors is boosting the growth of the hair towel wrap market. According to the U.S. Bureau of Labor Statistics, the personal care services industry, including barbershops and beauty and other personal care services, is anticipated to grow 8.1% from 2020 to 2030. This is expected to propel the growth of hair towel wrap market.
In 2021, the synthetic fiber segment accounted for the largest market share. The limited supply of natural fiber and beneficial characteristics of synthetic fiber such as strength, softness, and elasticity led to the dominance of the synthetic fiber segment of the hair towel wrap market in 2021.
Based on distribution channel, online retail is the fastest-growing segment. Increasing adoption of technology is allowing the online retail segment to be more efficient and reachable. Moreover, the growing number of online shoppers is expected to propel the growth of online retail segment.
North America is expected to be the fastest-growing region in the global hair towel wrap market. The increasing use of hair towel wraps among consumers in the U.S. and Canada is expected to drive the hair towel wrap market. Additionally, an increasing number of salons and spas, beauty parlors, and hair care clinics are propelling the growth of hair towel wrap market in North America.
Impact of COVID-19 Pandemic on Hair Towel Wrap Market
Several industries, such as consumer goods, faced unprecedented challenges due to the COVID-19 pandemic. The shutdown of manufacturing units adversely severely affected the production and supply sides. Further, the shutdown of distribution facilities, including supermarkets and hypermarkets and retail outlets, hampered the market hair towel wrap growth. However, with the gradual revival of economies, many manufacturers resumed their operations with maximum or full capacity. This also contributed to the market growth as the demand for hair towel wraps grew from the working population, and chemical and hair towel wrap production volumes surged from 2021.
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