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Article: Hair care: a push/pull market: though it remains the personal care industry's second largest market, hair care is struggling against the challenges of market maturity while seeking footholds in emerging regions. Potential is being created, however, as products are tailored to increasingly specific needs.(Hair Care)
- Article from:
- Global Cosmetic Industry
- Article date:
- May 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 Allured Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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[ILLUSTRATION OMITTED]
Hair care is succumbing to the challenges of market maturity, including discounting and private label competition. At $57 billion, it remains the personal care industry's second largest market, but with global growth under 5% a year, at a fixed USD exchange rate 2002-2007, its performance is below the industry average of 5.2%--and is a long way behind skin cares 7% growth rate. Manufacturers still see potential in the market, however, and launch activity remains as high as ever as they tailor products to increasingly specific needs.
For major players--particularly Unilever, L'Oreal and P&G--the strategy of micro-segmentation is ...
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