The paper, ‘Customer and Innovation trends in Haircare’, published on November 18, notes the relative strength of female anti-ageing hair care as compared to the potential of the male market, and the need to develop scientifically-based products in order to increase consumer trust.
It also suggests that anti-dandruff treatments are becoming increasingly important, posting the largest CAGR of any sector at 7.1% per year.
The company identifies the lack of hair care products targeted at seniors as a significant ‘gap in the market’ which could be taken advantage of by cosmetics companies.
A gap in trust
According to Datamonitor, two thirds of those surveyed from 35-64 years old expressed a strong interest in looking good in their everyday life. In addition, many consumers expressed unhappiness with their age, particularly in the 50+ category.
These numbers may suggest great potential for anti-ageing; however, a crucial problem with the current development of hair care is a gap in trust between consumers and companies, with the company’s research showing trust declining especially in sharply in older customers.
Another challenge identified is the relatively low priority of anti-ageing hair care products for many consumers, with the company suggesting the need to ensure that these beauty items deliver far more benefits than comparable skin care products in order to capture the market.
Only 31% of consumers believe that beauty products supported by science are untrustworthy or somewhat untrustworthy, suggesting that a strong scientific basis is also important for new products.
More potential in female healthcare
The paper shows that although roughly equal numbers of men and women were unhappy with their age, at 12 vs 13%, female anti-ageing care has more overall potential for development. Almost half of all women aged from 35-64 “actively use” hair products to reduce the appearance of grey hairs.
In addition, 72% of female hair care shoppers over 55 were considered to be very concerned with their appearance, as opposed to 59% of male shoppers in the same age bracket.
Datamonitor also highlight the unconventional solutions to the problems of greying and ageing in hair, including nutritional supplements and “anti-greying pills” with supposedly permanent effects.