Bath & Body Works, a global leader in personal care and home fragrance, is set to launch hair products into 560 stores and online. In October 2022, the company introduced a new range of hair care products called MOXY, which includes face and hair care items made without phthalates and mineral oils and are not tested on animals.
This Father’s Day, the retailer added men’s grooming products to widen its assortment. This move comes as the hair care market continues to grow, driven by changing consumer preferences,
growing awareness of the importance of hair care, and rising demand for natural and organic products. The global hair and scalp care market size was valued at USD 80.81 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6%.
Revenue in the Hair Care segment is projected to reach US$13.44bn in 2023, with an expected annual growth of 1.17% (CAGR 2023-2027). North America is anticipated to experience significant growth in the market due to high expenditure on personal care, including hair-based products.
For instance, Americans are estimated to spend tens of billions of dollars on hair, skin, and hygiene products. The increasing growth of female employment is also expected to boost consumption, as women are willing to spend more on hair care products.
According to data published by the World Bank , the female labor force participation rate in the United States is 56.76 percent, a rise from 56.39 percent from its prior year…
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