South American leading with major share in the Chile Professional Hair Care Market
The population of Chile in 2017 was 18.11 million, and it is estimated to grow at a CAGR of 0.78% through 2023 and reach 19 million, which leads to a higher rate of adoption in the sub-regions of Chile. Chilean men spend $21 per capita on hair products, which is the highest in the South American region. Take home sales of styling and hair care categories from male customers is set to be robust in the market.
Selected Product Category Analysis done in the full Report:
The findings say prices of perming and straightening services are estimated to be higher. Whereas, being cheaper in price, hair color service is estimated to witness tremendous growth by 2023. Professional hair color products have the largest share of 50.9% in Chile professional hair products market. The market generated a revenue of CLP 11342.12 million ($19.07 million) in 2017 and is estimated to grow at a CAGR of 4.4% to reach a revenue of CLP 14685.78 million ($24.69 million) by 2023. Professional shampoo and conditioner holds 51.8% share of the overall market, where38.7% is for shampoo and 9.5% is constituted by treatment products. Professional shampoo and conditioner market of Chile were approximately CLP 9.53 billion ($0.016 million) in 2017, it is estimated to be growing at a CAGR of 5.4% to reach CLP 13.06 billion ($0.022 million) by 2023. Professional hair perming & straightening product market is expected to grow at a CAGR of 6.6% to reach CLP 1.76 billion ($0.0025 million) in 2023. Compared with other products in the category, professional hair styling market is expected to witness the lowest revenue by the end of 2023. The above mentioned types are influenced by increasing fashion awareness is the demand for styling services market.
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Excerpts on Market Growth Factors
Excess levels of fluorides and chlorine in the water of Chile coupled with elevated pollution levels are resulting in hair damage. Such reason is resulting in the increased adoption of frequent product launches of hair colors. Thus, hair treatment will drive the sales of high quality products.
Aging population in Chile is set to attract more customers to Hair salons as there will be an increase in demand for services such as hair care treatment.
Ammonia free and organic hair color products by Elgon, L’Oreal Professional and Wella have established a good distribution network in the country together, accounting for 77% of total professional hair color market.
Salon keratin hair straightening products include Keratin Complex Smoothing Therapy by Coppola, and Global Keratin Complex has been witnessing high demand for its various benefits. The higher rate of adoption itself shows that the hair care market is a growing trend in Chile.
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Key players of the Chile Professional Hair Care Market
Cadiveu tops the list, with around 28% of total perming and straightening products market in Chile. The L’Oreal Group accounted for a share of 64.4% in the overall professional shampoo and conditioner product market. Revlon and Davines together contribute 10.4% to Professional hair styling product market. Distribution channel has a major hand behind the increased demand of hair care products in Chile. Retail chains such as Intersalon, Falabella, Walmart and others are used by manufacturing companies to widen their respective product reach. CASA Picharais, one of the major distributors in Chile, distributes Elgon and Davines brands’ highly utilized products. Wholesalers and distributors held 59% of share in the overall supply chain market. Looking into the overall growth with respect to constant adoption, the market will create opportunities for companies to developed more products.
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