TopicInnovations in Hair Care Products - Opportunity For Private Labelers
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Years ago hair care products primarily catered to helping consumers manage their different hair types with basic choices that ranged from dry, oily or normal. Today, you can find products that address just about every hair care issue imaginable!But despite the variety in products, product innovation has been long overdue. Slow initiatives by leading brands are giving private label manufacturers the opportunity to spearhead innovations in the hair care industry and meet eager consumer demands.Factors Driving Innovations in the Hair Care Industry Though men and women between the age of 14 and 29 make up the target audience for innovative products, consumer demand for new products runs across a diverse range of demographics.
Factors that drive growth include: Americans are more style-conscious today than ever! According to Datamonitor, a global leader in providing premium global business information, "Around two thirds of global consumers believe it is an important part of their beauty regime." (1) This includes a diverse range of demographics from young teens to baby boomers to the elderly.As Americans continue to grow as a multi-cultural society, the need for customizable ethnic products has risen. Various ethnic groups are seeking out more products that address their personal needs.
For instance, while African-Americans make up only 13 percent of the American population, they comprise about 30% of the product purchasing audience, according to a 2007 report from Mintel International, a market research agency based in Chicago. (2) The increasing population of the Hispanic community presents another opportunity for manufacturers to meet the hair care needs of ethnic communities.