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Introduction of Customized Products Propelling Growth Prospects in the Global Hair Care Market
According to the new report from research firm TechNavio, key market vendors include Henkel AG & Co., Kao Corp., L'Oréal Group, Procter & Gamble Co. and Unilever Group.
One major trend emerging in the market is a significant change in customer expectations, which has led to many technological advances and new product launches. The influx of new products is expected to drive market growth at a CAGR of 4.32 percent from 2013-2018.
“Currently, consumers are looking for novel, more efficient products that are better suited to their needs and lifestyles. To cater to this need, hair care product vendors have introduced technologically advanced formulations that are priced higher than normal products and are therefore driving some market growth,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Hair Care Market 2014-2018 (http://www.technavio.com/
TechNavio is a leading global technology research and advisory company. Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year. We cover more than 500 technologies across 80 countries.
We focus on emerging trends that can shape a market, and model these trends using a mix of quantitative and qualitative tools in our proprietary research methodologies in order to build forecasts across market segments and geographies. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a constantly changing technology market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Our analysts obtain the information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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