Sales surge 800%! "Hair Economy" products continue to be popular

In this era, any industry related to appearance has unlimited development potential. The prevalence of the "hair economy" has spawned a consumer market worth 80 billion yuan .

Recently, research company Grand   View   Research has released its latest research report on the global hair and scalp care market .

Data shows that in 2020, the global hair and scalp care market size was US$80.81 billion , and from 2021 to 2028 , the market is expected to maintain an annual growth rate of 6.6%.

Hair loss has become a common concern among consumers, and hair loss products have seen rapid growth in recent years. Hormonal changes, medical conditions, heredity, and aging are considered some of the common causes of hair loss. According to a report by the American Academy of Dermatology, about 30 million women in the United States suffer from hereditary hair loss, and more and more people are increasing their spending on hair loss-related products .

According to Google Trends data , searches for anti-hair loss products have increased by 1250% in the past year, and searches for hair loss problems caused by COVID-19 have also increased by 750%.

At the same time, the sales of wig products have also exploded. Data shows that on average, a wig made in China is bought every 2 seconds on AliExpress. The annual sales of wig products are as high as billions, accounting for 80% of the global export volume! Wigs have become an important category in the "hair economy".

In addition, damage to hair caused by the external environment has driven the demand for nourishing products such as hair masks , promoting the growth of the market .

According to Google Trends data , searches for hair care-related products were very frequent between May 2021 and 2022 , driving sales growth of 800%.

The diverse consumer demands of the millennial generation are also worth noting, including the use of serums, hair masks and leave-in care products .

In the future, this group will focus on " hair care products for dry and dull hair ". The Google Trends search volume related to this demand has increased by 60% in the past year , and sellers can focus on the layout of such products.

Judging from the market size and growth rate of the "hair economy", it contains strong consumer power and the demand is a blue ocean . For cross-border sellers, they can seize this market opportunity.

Hair Economy

Consumer Market