Project Report For Hair oil
Project report for Hair oil is as follows
Hair oil is a cosmetic, conditioner, style aid, restorative, or tonic oil that is applied to the hair. Hair oils have been used for a variety of objectives, including hair growth, health, dryness, scalp, and repairing damaged hair. Natural hair oils, such as coconut, castor, or almond oil, can be used. A range of commercial and traditional hair oils are made from mineral and vegetable oils. Coconut oil is a popular component, and Macassar oil and Parachute are two brands that employ it.
Almond, argan, babassu, burdock, Castor, and tea seed are some more vegetable oils that are utilised on the hair. Natural oils, on the other hand, are more typically utilised as cosmetic goods on the scalp. Each oil has its unique use since they each give various advantages to the scalp. Natural oils are derived from natural resources that are abundant in nutrients such as vitamins and fatty acids.
The rising popularity of professional hair products, rising hair damage and hair loss concerns caused by pollution, an ageing population, and rising consumer awareness of natural products are driving drivers in the professional hair oils market. The strong social media presence of a huge youth population that is always keeping up with new haircare trends is impacting the market growth. Numerous celebrity bloggers and celebs endorse many professional hair care procedures and therapies that use professional hair oils. The internet shopping category is rapidly expanding and is quickly becoming a key sales channel for professional hair oils.
Market potential & Strategy
The worldwide professional hair oils market was worth INR 70,752 million in 2017 and is expected to be worth INR 93,816 million by 2023, expanding at a 4.87 per cent CAGR from 2018 to 2023. During the forecast period 2020-2025, the Indian hair oil market is expected to develop at a CAGR of 5.43 per cent.
Hair oils are regarded as a crucial source of hair care and treatment, and a large portion of the country’s population consumes them on a regular basis. Coconut oil dominates the hair oil market, with other ingredients accounting for minor proportions. The firms’ considerable distribution efforts have assured that the product reaches even more remote locations and untapped rural consumers. Hair oils with additional value are those that are specifically formulated to give extra care for hair.
A sizable proportion of Indian customers are turning to value-added hair oils to address hair-related issues such as hair fall and damage caused by causes such as hair colouring. Furthermore, increased affordability issues are raising the market cap for value-added hair oils, which are high-priced premium items. Value-added hair oils are also gaining popularity due to the advantages provided by the presence of natural components in the composition.
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