Chile Hair Care Market - Growth, Trends, and Forecasts (2020-2025)

The Chilean hair care market is projected to register a CAGR of 2.07 % during the forecast period (2020-2025).

• The market for hair care in Chile is projected to experience solid growth, in current value terms, during the forecast period. It is likely to reflect the market’s high level of maturity, affordable prices, and innovation in the product category dedicated to males. Moreover, reliance on promotions, by both global and domestic players, is expected to further increase the Chilean hair care market.
• Moreover, the ongoing wellness and sustainability trends in the country are driving the surging consumer interest in natural hair care products.

Key Market Trends

Shampoo Held the Largest Market Share

The shampoo segment witnessed a significant demand for natural and herbal products, owing to the changing consumer dynamics, coupled with the increasing product awareness among consumers. This has been identified as a major driver for the market. These changes are majorly due to the high millennial population, migration to cities, and rising women employment rates. Furthermore, shampoos designed for specific hair types are gaining popularity among users, with companies now focusing on catering to every niche segment. Supermarkets/ hypermarkets claim the largest revenue share in shampoo sales, owing to the inclination of broader audiences to these channels, when compared to other sales channels.

Speciality Store Remained the Fastest-growing Segment

Specialty stores offer greater visibility, wide variety, and updated product types. Prominent players or brands, such as MAC Cosmetics, L’Oreal SA, and The Body Shop, operating in the market sell their products through these stores, as they are convenient retail channels, for both end users and vendors. These players are also adopting luxurious décor, to attract more consumers toward their stores. The tailor-made approach, customized and specific products, personalized services, and availability of products for specific hair concerns have resulted in the increased sales in the specialty store segment of the market.

Competitive Landscape

The Chilean hair care market is consolidated among a few companies, such as L’Oreal SA, Proctor & Gamble, and Henkel AG & Co. The key players are engaging in mergers, acquisitions, and product innovations, to achieve consolidation and optimize their offerings. Moreover, these players merge with local players, in order to gain dominance in the local markets.

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