8 million women in the UK are estimated to experience hair loss too, with around half this figure aged between 45 and 64 years. Due to our ageing population, it’s estimated the hair loss market globally will increase by over 50% from £5.6 billion in 2015 to £8.8 billion in 2024.
Hair loss issues are set against the background of a booming hair care market, where individuals take more care over their appearance than ever before, considering new treatments and technology. Mintel research forecasts the men’s hair care market will grow by 11% from £85 million in 2015, to £94 million by 2020.
Sales of ‘treatments’ in this market reached £14.9 million in 2015, up from £14.7 million in 2014. Mintel suggest that as the women’s hair care market is more mature than the men’s, it’s increasingly focussed on ‘care’ with interest in prevention, protection and innovation.
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